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Hyderabad-based MAA Television Network Ltd and Sony Pictures Television have entered into a strategic alliance to give a growth thrust to MAA TV and its network of Telugu television channels. The tie-up would enable Sony Pictures or any of its affiliates to acquire 30 per cent equity stake in MAA TV on signing a definitive agreement and subject to obtaining necessary approvals from the statutory authorities concerned. The majority shareholders of the two companies have signed a letter of interest […]
Somany Ceramics today said it will acquire 26% stake in Gujarat-based Commander Vitrified Pvt Ltd (CVPL) for Rs 3.25 crore. The company has inked a memorandum of understanding with CVPL and its promoters to acquire equity stake of 26% in CVPL for Rs 3.25 crore, with an option to further increase the stake up to 51%, Somany Ceramics said in a filing to the BSE. CVPL is at an advanced stage of setting up a new plant to manufacture about […]
Private equity major IL&FS Investment Managers (IL&FS) has offered around $35 million or Rs 175 crore to buy out US chocolate confectionery major The Hershey Company’s 51% stake in its Indian joint venture (JV) with the Godrej Group.
The Godrej Group would continue to hold the remaining 49% in the company, which will go back to its original name, Godrej Beverages & Foods. The Godrej Group will go back to managing the business as it did prior to forging […]
Corporate India announced deals worth $20.4 billion in the first quarter of this calender year, a tad lower than $21 billion in the year-ago period, global consultancy firm Grant Thornton said. The first quarter of 2012 witnessed deals worth $20.4 billion, out of which M&A was $18.27 billion, PE was $2.01 billion and qualified institutional placements worth $0.1 billion, the report said. Though in terms of value, there has been a decline, in terms of number of deals there has […]
Marico plans to sell 4.8% stake to Singapore’s sovereign wealth fund GIC and Baring Private Equity India to raise Rs 500 crore.
Indivest Pte Ltd, an investment arm of GIC, will invest Rs 375 crore to subscribe over 2.2 crore shares while Baring India Private Equity Fund would be allotted 73.5 lakh shares for Rs 125 crore, both at Rs 170 per share on a preferential allotment basis.
“This is to fund Paras’ acquisition as well as to […]
Private equity (PE) investment fell to $1.88 billion across 90 deals during the quarter ended March this year, less than half compared to the same period last year. This was the third consecutive quarter of deceleration, says a report from research firm Venture Intelligence. During the first quarter of calender year 2011, private equity firms had invested $3.61 billion across 107 transactions. Venture Intelligence said there has been a dearth of mega deals during the quarter, which was the main […]
The Reserve Bank of India or RBI has asked the promoters of Kotak Mahindra Bank to cut their stake in the bank to ten percent from the present 45 percent by 2016, reports said. This regulatory directive is in keeping with the guidelines for entry of new private sector banks. The guidelines require promoters to gradually bring down their stake to ten per cent. As at the end of December 2011, promoter holding in Kotak Mahindra Bank was at 45.40 […]
Private equity (PE) capital infusion into Indian real estate dropped by almost 36% between January and March from a year earlier, as funds opt to spread their risks and invest in smaller deals. PE funds invested $279.53 million across 12 real estate deals in the first three months of this year, compared with $431.9 million across 10 deals in the same period last year, according to data provided by VCC Edge, a research platform that tracks investments. Among this year’s […]
Making registration for private equity (PE), venture capital (VC) and hedge funds compulsory under new norms, capital market regulator Securities and Exchange Board of India (SEBI), has ensured that pooling of investors’ money in India is regulated and investors are not kept in the dark about their investments. “The regulator wants to ensure every pooling of funds in India is regulated and investors should know where the money will be invested,” said Avinash Gupta, leader, financial advisory, Deloitte India. The […]
The International Finance Corp. (IFC) has invested around $20 million in New Delhi-based Pragati India Fund, an investment firm that focuses on small- and medium-size enterprises (SMEs) in states such as Bihar, Rajasthan, Madhya Pradesh, Chhattisgarh, Jharkhand, West Bengal and Orissa. These low-income states are home to more than 400 million people but do not attract big private investments. “These states have been ignored, and there are perception issues,” said Narayanan Shadagopan, Pragati’s founder and managing director. “There is not […]
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