|
The shareholders of India have agreed to sell their 51% stake in the agency to their international partners the Interpublic Group. The shares were held by 12 Lintas Employees Welfare Trusts. Confirming the development, Prem Mehta, chairman and managing director, Lintas India said, ” There is a proposal from IPG to acquire the shares held by the Indian shareholders in Lintas India Private Limited. […] India’s biggest generic drug maker, Ranbaxy Laboratories, said yesterday it had sold 25% of its newly acquired Be-Tabs to black-owned Com- munity Investment Holdings (CIH). The deal is estimated to be worth about R125m, and follows CIH’s purchase of a … […] Top private equity funds like Blackstone Group and Schroders are keen to buy a stake in India’s Reliance Mutual Fund, a unit of Reliance Capital Ltd. the Economic Times reported today. The newspaper, quoting unnamed sources, said Reliance Capital was … […] It is popularly believed that venture capitalists fund only established players and proven products. There is a lot of cynicism amongst many about all the hype that private equity and venture capital is getting in India of late. However, the … […] International Finance Corporation (IFC), the private equity arm of the World Bank, will invest $22.5 million (Rs91.71 crore) in a subsidiary of Moser Baer, a manufacturer of optical storage discs. IFC would be investing the amount in an export oriented … […]
After raising Rs20.28 crore from Larsen & Toubro Limited through a preferential issue of 12 lakh shares of Rs10 face value at Rs169 per share earlier this year, the board of the Kumbakonam-headquartered City Union Bank Limited has decided to … […] Bennett, Coleman & Co, owners of the Times Group, is believed to have bid for 2-3 per cent stake in the Bombay Stock Exchange (BSE). A senior executive of the company said: “Yes we have bid for a small stake. BSE is expected to revert soon. We have not got the allotment though.” Bennett, Coleman is supposed to have paid around Rs 70 crore for the stake. […] India Value Fund (IVF), which has a corpus of $600 million, has invested a further Rs 50 crore in SFO Technologies, a group company of the $200 million NeST Group. The investment comes after a year when IVF invested Rs 100 crore in this Kerala-based group as growth capital. […] New York Life Investment Management India Fund has picked up a minority stake in the Bangalore-based Avestha Gengraine Technologies (Avesthagen) for Rs 22.5 crore. Avesthagen will invest the money in expanding its business and to increase its global presence. Avesthagen is focussed on the convergence of food, pharmaceuticals and clinical genomics. The company provides solutions to agriculture and health disorders such as degenerative diseases, metabolic disorders and infections. […] Fire Capital Fund Mauritius, a global venture capital fund, plans to invest up to $250 million to develop integrated townships in 10 cities. By the year-end, the firm would also raise a $500 million fund to be dedicated to real estate and components of infrastructure, said Om Chaudhary, managing director, Fire Capital. […] |