May 2010
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Pvt equities to invest $10 bn in India this year

Private equity (PE) funds will remain a preferred choice for capital growth and Indian industries will receive about $ 10 billion investments from the PE deals by the end of this year, says a latest report jointly released by global auditing firm KPMG and the Confederation of India Industries (CII). “India has a very vibrant private equity industry with over $ 32.5 billion invested across more than 1,500 PE deals from January, 2006, till date. As per the industry estimates, PE investments would be in the range of $ 9-10 billion in the year ending December 31, 2010,” says the report. It adds PE funding is expected to provide capital to fund much-needed infrastructure projects to support gross domestic product (GDP) growth of seven to eight per cent in India. According to the report, the country needs about $ 1.3 trillion investment over the next three years to sustain a GDP growth of seven to nine per cent out of which $ 60-100 billion will be PE investments. […]

Tayal not open to sell stake in Bank of Rajasthan

Crisis-ridden private-sector lender Bank of Rajasthan's promoter P K Tayal today ruled out any possibility of selling his stake in the bank amidst speculations that ICICI Bank and Axis Bank have evinced interest for a buy out. “There are people who are coming (to buy the stake). They are not welcome … the answer is no,” Tayal told PTI when asked if he was open to sell his shareholding in the bank. At present, Tayals have a stated holding of around 28 per cent in Bank of Rajasthan while according to market regulator Securities and Exchange Board of India, promoters' actual holding in the entity is around 55 per cent. […]