State Bank of India and Life Insurance Corporation are among the front runners to pick up stake in the Asia's oldest bourse Bombay Stock Exchange, which has to demutualise by May 19.
Under demutualisation, the bourses has to off-load 51 … […]
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State Bank of India and Life Insurance Corporation are among the front runners to pick up stake in the Asia's oldest bourse Bombay Stock Exchange, which has to demutualise by May 19. Under demutualisation, the bourses has to off-load 51 … […] Textiles firm RSWM Ltd. said on Friday it had acquired 50 percent stake in Spanish yarn-maker SISA S.A. for an undisclosed sum, which would expand its footprint in the higher value international yarn market. The deal, through RSWM's overseas unit, … […] Doha Bank of Qatar has agreed to take 49 per cent equity stake in Select Securities Group, which owns brokerage network under the brandname 'Investnet'. An agreement to this effect was signed by Select Securities Ltd Chairman and CEO Prince George and Doha Bank Deputy CEO R Seetharaman in the presence of Kerala Industries Minister Elamaram Kareem here. Kareem said during his recent tour of the Middle East he met several businessmen who were keen to invest in Kerala. […] Deal values ICICI’s insurance, MF business at $10 bn. ICICI Holdings, which will control the insurance and mutual fund business of ICICI Bank, will go in for private placement of a 5 per cent stake to raise around $500 million. It has appointed JP Morgan as the financial advisor. ICICI Bank was looking at valuing ICICI Holdings at $10 billion, sources said. Vishaka Muley, chief financial officer of the group, refused to comment on the development. […] Standard Chartered Bank is all set to acquire 49% strategic stake in UTI Securities from Securities Trading Corporation of India (STCI) for nearly Rs 140 crore. The deal, that values the UTI Sec at Rs 280 crore, is set to be inked by the end of the week, market sources said. The deal values the company about Rs 15 crore higher than Rs 265 crore that STCI itself had paid when it bought the UTI Sec from its founder-promoter, Specified Undertaking of the Unit Trust of India (SUUTI) in April 2006. Under the terms of the deal, Standard Chartered Bank will have the option to buy another 25% from STCI after a year. […] The Chatterjee Group (TCG) is looking to set up a $450-500 million private equity fund for investments in real estate. The group, headed by Purnendu Chatterjee, which has investments worth $2.5 billion in several sectors, including technology, BPO and infrastructure, also has a stake in the $1.2-billion Haldia Petrochemicals. This will be the company’s first dedicated PE fund for its India investments. “The fund has already seen a first closing of $100 million and we should touch $450 million to $500 million by June end,” said a company source. […] Citigroup Inc.'s private equity arm Citigroup Venture International is one of the parties keen to buy a stake in private Indian retail brokerage firm Sharekhan Ltd., the Business Standard reported, quoting a source close to the development. Others interested in … […]
Sequoia Capital has entered into a deal to sell its stake in back-office firm Firstsource Solutions Ltd. to the Khemkas for $40 million, an Economic Times report said quoting unidentified sources. Sequoia held 9.17 percent stake in Firstsource as on … […] High end telecom products manufacturer, Kavveri Telecom Products Ltd, has acquired Canada's DCI Digital Communications, a Canadian company that specialises in Radio Frequency Interference (RFI) products which reduce interference problems in the 30 MHz to 6 GHz range. The products … […] Leading biotech company Avesthagen and French plant breeding major Groupe Limagrain on Wednesday said they have jointly acquired majority stakes in two Indian seed companies. The two partners said that they will hold majority stake in Hyderabad-based integrated field crop seeds company Swaghat Seeds Pvt Ltd and Bangalore-based vegetable seeds company Cee Kay Seeds and Seedlings Pvt Ltd. […] |