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Two mega deals brewing on Dalal St promise to set mind-boggling benchmarks on how much a broking house can possibly pay to attract equity research and investment banking talent in India. Japanese financial services powerhouse Nomura Holdings is close to acquiring Enam Financial Consultants, one of India’s leading institutional broking and investment banking firms with revenues of around Rs 1,500 crore. […] India on Thursday facilitated steel baron L N Mittal's foray into oil refining by allowing him to pick 49 per cent stake in Hindustan Petroleum Corp's Bhatinda refinery, which would become the single largest FDI recipient in the sector. Mittal Investments plans to acquire the stake in the 9 million tons per annum refinery for Rs 3,365 crore through its 100 per cent arm Mittal Energy Investments Pte Ltd, incorporated in Singapore. […] The European unit of Usha Martin Ltd. plans to buy a distribution firm in Rotterdam, the Netherlands, for 3-4 million euros and hopes to close the deal by the end of this month, a company source said. “This company has been sourcing high-end wire ropes from different manufacturers. So the benefits will come to our company,” the source said. […] India's Batliboi Ltd has acquired a French textile air engineering company, AESA Air Engineering SA, for about 90 mln rupees in an all cash deal, the company said in a statement to the Bombay Stock Exchange. […] India Hospitality Corp. said on Tuesday it would buy an Indian restaurant firm and an airline catering company for about $110 million to tap demand in the fast-growing economy. India Hospitality will buy Mars Restaurants Pvt. Ltd. and SkyGourmet Catering Pvt. Ltd. from affiliates of private equity firm Navis Capital Partners and private shareholders, it said in a statement. […] The U.S.-based Aptuit will invest $100 million (about Rs. 400 crore) in the next four years in the Hyderabad-based Laurus Labs. It will pick up a majority stake in Laurus Lab and the joint venture will be called Aptuit Laurus. This is the b iggest-ever overseas investment in the contract research and manufacturing services space in India. Addressing presspersons here on Monday from Atlanta in the U.S., CEOs of Aptuit and Laurus, Michael A. Griffith and Satyanarayana Chava said the new drug development company —– Aptuit Laurus — would combine the expertise and infrastructure of both companies to offer integrated services, technology and manufacturing capabilities that spanned the entire drug development cycle. […] Bennett, Coleman and Co Ltd (BCCL) has acquired a stake in Bangalore-based Karuturi Networks engaged in the business of floriculture, processing foods — gherkins and information technology. Karuturi has tied up with the Future group and is looking at their outlets for marketing flowers on a revenue-share basis under a brand called Flower Express. The company plans to enter the retail space through shop-in-shops, kiosks and exclusive brand stores through tie-ups with other groups. […] Icelandic bank Kaupthing said on Monday it had inked a deal to buy 20 percent of Indian investment services firm FiNoble Advisors Private Ltd. The purchase price was not disclosed. Kaupthing said in a statement it had an option to buy the remaining 80 percent in the New Delhi-based firm, which has 25 employees, in five years. […] Bennett, Coleman & Co. Ltd has acquired a stake in Zicom Electronic Security Systems, one of the leading electronic security solution providers in the country. […] IFCI plans to invite bids from investors for sale of 26% in the early week of July. The institution has decided to make public a ‘memorandum of information’ inviting interested parties, said senior IFCI officials. They said that IFCI has decided not to convert itself into a bank, but continue as a term-lending institution. “If we become a bank, we would be like any other. We may not even rank among the top 10 banks in India. Further, a bank has to follow directed lending rules, invest one-fourth of its deposits in government securities, and another 5.5% has to be deposited with RBI in the form of cash reserve ratio. These stipulations are not there for FIs,” they said. IFCI officials added they would instead aim at being a world-class term-lending institution. […] |