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NTT Communications Corp., a unit of Japan’s Nippon Telegraph and Telephone Corp, will buy a 74% stake in Indian data centre services provider Netmagic Solutions Pvt. Ltd. While financial details of the transaction were not disclosed, Telecompaper, an independent research and publishing firm focused on the telecom industry, pegged the transaction to be around 10 billion Japanese yen (Rs.642 crore). A person directly involved with the deal confirmed the transaction value. He spoke on condition of anonymity. Netmagic operates seven […]
Ahmedabad-based National Multi Commodity Exchange (NMCE) is in talks with five private equity players and large private banks to divest part of shareholders’ equity in the exchange, to meet the regulatory guidelines before the extended deadline of March 31, 2012. Currently, the exchange has an equity share capital of Rs 19.12 crore, which, according to revised guidelines, should be raised to at least Rs 50 crore before March 31. Also, the promoters’ stake needs to be brought down to 26 […]
GMR Infrastructure is understood to be giving final touches to raise close to Rs 600 crore through the private equity (PE) route to fund expansion of its highways business. Investment bankers close to the company indicate a deal is expected to be signed within three weeks. This will facilitate financial closure for the Rs 7,500-crore highway project the Bangalore-based firm won in October, for a 555-km stretch from Ahmedabad to Kishangarh, Rajasthan (about 30 km from Ajmer). The company, according […]
Italian luxury brand Canali has picked up 51% stake to form a joint venture with its Indian franchise, Genesis Luxury Fashion, two persons familiar with the matter said. Though Canali had the option to set up a wholly-owned subsidiary, following the government’s decision last month to allow 100% foreign direct investment in single-brand retail, it has opted to stick to the previous ceiling. A higher shareholding would have required it to mandatorily source 30% of its products from Indian small […]
The stake is likely to fetch the country’s second-largest asset management company around $300 million (Rs 1,511 crore, at 50.37 against the dollar), valuing the business at a $1.2 billion (Rs 6,044 crore). In December, the average assets under management (AUM) stood at Rs 84,299 crore (about $17 billion). The valuation of the company is 7.11 per cent of total assets. R-Cap officials declined to comment on the issue. This would be the second stake sale in the company. In […]
Karaikal Port Private Limited, a subsidiary of Chennai-headquartered Marg Limited, is close to roping in third major private equity player. According to investment bankers close to Marg, Jacob Ballas Capital, a major private equity fund, which is investing from its third fund of $440 million, is understood to be one of the funds which is looking closely at the project. Marg Karaikal Port has so far raised around Rs 350 crore from IDFC Project Equity and Ascent Capital. MARG Karaikal […]
India’s largest diversified media conglomerate Bennett, Coleman and Co Ltd (BCCL), popularly known as the Times Group, has joined the race to pick up a majority stake in the two sports channels of Nimbus Communications.
The two channels — Neo Cricket and Neo Sports — are housed under Neo Sports Broadcast Ltd, a subsidiary of Nimbus.
Even though Nimbus is the principal shareholder in the entity, it has some other financial institutions and investors like PE giant 3i as well. […]
Chennai-based TVS Logistics Services Ltd is in talks with private equity (PE) investors for a second round of funding, three people familiar with the development said. “We have not yet decided the quantum and stake of the investment,” managing director R. Dinesh said in a telephone interview on Saturday. The firm has plans to raise money from the equity market in the future, and this round of funding is a step in that direction since it would help his firm […]
Jacob Ballas Capital in race for Rs 600 cr worth project. Karaikal Port Private Limited, a subsidiary of Chennai-headquartered Marg Limited, is close to roping in third major private equity player. According to investment bankers close to Marg, Jacob Ballas Capital, a major private equity fund, which is investing from its third fund of $440 million, is understood to be one of the funds which is looking closely at the project. Marg Karaikal Port has so far raised around Rs […]
Talks under way for partnership model to provide last-mile connectivity to 4G users. Reliance Industries (RIL) is planning to pick up a minimum 26 per cent stake in leading cable operators, including multi-system operators. The move is a part of the group’s strategy to rope in cable operators as well as multi-system operators (MSOs) as partners to provide last-mile connectivity to consumer homes for 4G broadband services, which would include data, voice and television. According to two independent sources, RIL […]
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