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Tata Teleservices is in final talks with Matrix Cellular, a international mobile roamins service provider. Talks with TTSL started when Matrix’s talks with Essar Group failed. According to a source, TTSL will take up 15 % stake in the JV and gradually raise it to 75%. Matrix is reportedly values at Rs.350 crore, but this valuation is likely to drop looking at the dip in sale of international travelling cards as the downturn called for lowered number of international travellers. […] Singapore's Changi Airports International (CAI) has picked up 26% stake in Bengal Aerotropolis Projects Ltd (BAPL), the specialist company developing Aerotropolis projects in India. The stake has been picked up by Changi Airports India, the 100% subsidiary of Changi Airports International. CAI CEO Wong Woon Liong and Deputy CEO Eugene Gan have been inducted as directors on BAPL board. […] Investments from venture capital (VC) firms have fallen by 72 per cent in the first half of this year compared to the same period last year, a study by Chennai-based Venture Intelligence and Global India Venture Capital Association reveals. VC firms committed $117 million in 27 deals as compared to $413 million in 67 deals for the first half in 2008. ''The uncertainty in global financial markets over the past six months has affected VC investing in India as well,'' said Global India Venture Capital Association director Sudhir Sethi. […] Tata Steel Global Minerals Holdings Pte Ltd, an indirect wholly owned subsidiary of Tata Steel Ltd has today acquired additional shares of Riversdale Mining Ltd, Australia through market purchases taking its total holding to 19.38%. Riversdale Mining Ltd (RML) is a mining Company listed on the Australian Stock Exchange (ASX). RML has acquired coal exploration tenements in Mozambique with the combined tenement size now in excess of 250,000 hectares in the Tete-Moatize area. Within the Tete province, the Benga Coal Project is being developed as a joint venture between Riversdale Mining Ltd (65%) and Tata Steel Global Minerals Holdings Pte Ltd (35%). […] Enchanted by the gradual turnaround of the economy private equity and venture capital investors, who have invested over $2 billion into Healthcare & Life Sciences (HLS) companies in India over the last five years, are now keen to increase their investments in this industry, A survey of over 60 PE & VC firms conducted by research firm Venture Intelligence shows that the investors are especially keen to tap into sectors like diagnostic services, medical devices / equipment, hospital chains and wellness products and services. […] Plywood and veneer manufacturing firm Century Plyboards’ fund raising plans of Rs 250 crore through the qualified institutional placements (QIPs) route have undergone a change. The company is in talks with global and domestic private equity players to raise Rs 100-150 crore to part-finance its cement expansion plans. The move follows the management’s decision to put its plans of setting up MDF plants in Punjab and Uttarakhand on hold for the time being till the Indian economy revives completely. “Since our MDF plans have been deferred, we will require funds to expand our cement capacities only. The company hopes to zero in on the prospective PE investors over the next three months or so,” told Century Plyboards (I) joint managing director Sanjay Agarwal to ET. […] To generate revenue from new businesses, the Industrial Development Bank of India (IDBI) is waiting for approval from Reserve Bank of India (RBI) to set up a private equity venture. Yogesh Agrawal, Chairman and Managing Director, IDBI Bank said, “We are planning to get into private equity venture and have sought permission from the Reserve Bank of India. We have long experience in the business.” The central bank has already approved IDBI to start an asset management company (AMC). […] A private equity fund launched by Renuka Ramnath, the former chief of India's ICICI Venture, plans to raise $450-500 million through its assets management company, Multiples, media reports said. Multiples has already received financial commitments of $150-$200 million from some limited partners, the release said quoting chief executive officer of an unidentified private equity firm. The commitments are in the process of being formalized and the first tranche of the fund could be in place in less than two months, it said. […] Dabur India announced that the consequent to the acquisition of 92.15% shareholding in Fem Care Pharma (FEM), Jaquline, USA, a wholly owned subsidiary company of FEM, has become a step down subsidiary company of Dabur India. Dabur India manufactures and sells ayurvedic medicines, baby care products, natural, herbal, personal health products and processed foods either directly or indirectly through its subsidiaries. […] The Anil Ambani Group targets to raise Rs 2,000 crore through a private equity fund nearly a year after it announced its plan to enter this space. The fund has a greenshoe option for an additional Rs 1,000 crore. Reliance Equity Advisors (REAL), a wholly-owned subsidiary of the group’s financial services arm Reliance Capital, has begun selling the fund privately to high net worth individuals (HNIs) and financial institutions (FIs). REAL CEO Ramesh Venkat told ET that the target was to raise money equally from HNIs and financial institutions, as opposed to the common practice of domestic PE players raising most of the fund in offshore markets. “Private equity in India has matured as an asset class over the past decade. However, participation of local HNIs is not very big in this sector. Our aim is to provide an opportunity to this investor class to participate,” he added. […] |