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Financial Technologies (India) Ltd has offered 26,43,916 equity shares of face value of Rs. 10/- each of Multi Commodity Exchange of India Limited (MCX) in the recently concluded IPO for a consideration of Rs. 1,032/- per share. The abovesaid disinvestment by FTIL was in terms of Equity Structure Guidelines dated July 29, 2009, issued by Forward Market Commission. Subsequent to the disinvestment, FTIL is holding 26% in the equity share capital of MCX. Source: Equity Bulls Malaysia’s state investment arm, Khazanah Nasional, has sold its little more than 4 percent holding in India’s private sector lender Yes Bank for about $105 million, two sources with direct knowledge of the deal said on Monday. Khazanah sold the shares of Yes Bank in stock market block deals on Monday, said the sources, who did not want to be named as the information is not public yet. Khazanah and Yes Bank declined to comment. Credit Suisse was the sole […] Overseas investor Bank Muscat India Fund on Friday purchased stakes in six Indian companies, including LIC Housing Finance and M&M Financial Services, through various open market transactions worth a total of about Rs 172 crore (US$34 million). Bank Muscat bought stakes in India Infoline, Lakshmi Overseas Industries, LIC Housing Finance, Mahindra & Mahindra Financial Services, DLF and Lakshmi Energy and Foods from Taib Securities Mauritius Ltd, while shares were sold in these companies by Taib Securities Mauritius. As per the […] At a time when the government has renewed efforts to build a consensus on multi-brand retail FDI, private equity investors are stepping up investments in the logistics sector, seen as a key gainer if the policy gets through. The latest in the series of deals is an investment by US-based General Atlantic LLC, which manages approximately $17 billion in capital globally, in bulk logistics solutions provider Fourcee Infrastructure Equipment Pvt Ltd. While the exact investment amount was undisclosed, General Atlantic […] Private equity-backed companies will potentially drive the primary market as their PE investors will look to exit with decent returns in the next few years. The trend will mostly be evident among small-and medium-sized companies which have achieved the targeted revenues and where the growth potential is high, according to investment bankers. Mumbai-based Broking and investment banking firm Anand Rathi Financial Services has shortlisted some 78 unlisted companies in which many leading PE investors bought stakes in the past, and […] The Indian Motorsports League (IML), which is close to sealing a $400mn fund deal from two US-based PE firms and a Middle East-based sports fund, is also in the process of teaming up with a production house in Europe for broadcast rights in India. IML will use the funds to set up a race campus, car manufacturing facilities and race tracks. “Once the funds are secured, we will showcase the cars and start the races,” said Raj Kashyap, managing partner […] L Capital Asia, a private-equity arm of LVMH Moet Hennessy Louis Vuitton, is in talks to invest about $150 million to acquire a minority stake in a unit of India’s Raymond Ltd., the Economic Times reported Monday, citing people aware of the matter. L Capital Asia may buy a 10%-20% stake in Raymond Apparel, which owns brands such as Park Avenue, Parx and Notting Hill, sold via its exclusive retail stores, the report said. Source: WSJ Swiss private bank EFG is exiting Indian market with its top brass – managing assets estimated at $250 million – moving over to L&T Finance Holdings. The development marks L&T’s foray into private wealth management, providing it with a robust platform of assets to start, said sources directly familiar with the matter. Troubled by the Eurozone crisis, EFG decided to pull out earlier this year leading to the exit of its chief executive Manoj Shenoy and 12 private bankers, who […] The IT services arm of Indian steel-to-oil conglomerate Essar Group is in talks to raise $500 million to $600 million through a U.S. initial public offering and the sale of a stake to private equity firms, sources familiar with the matter said. Essar’s Aegis Ltd is in talks with private equity investors including U.S.-based Warburg Pincus and General Atlantic to raise as much as $200 million in an equity placement prior to an IPO, sources said, declining to be named […] Ethnic retailer Fabindia is understood to have sold 7% stake in the company to Azim Premji’s Premji Invest for about Rs. 125 crore to fund expansion. About a month ago, L Capital, the private equity arm of luxury conglomerate LVMH Group had also bought 8% stake in Fabindia from Wolfensohn Capital Partners. When contacted, neither Fabindia nor Premji Invest spokesperson offer any comments. Fabindia currently operates 141 retail stores across India and one store each in Dubai, Nepal and Italy. […] |