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In an attempt to bridge the gap between investors and technology companies, Yen Expo Pvt Ltd for the first time, is organizing an unique event for technology companies, Bangalore Technology Equity Fair (BTEF) 2008. The event will be held on 27th June 2008 in Sigma Room, Chancery Pavilion, Bangalore. BTEF 2008 will provide a unique forum for technology companies to access the Private Equity market. This unique event will allow technology companies seeking equity funding to make presentations to and meet directly with Private Equity & Venture Capital investors. Yen Expo will screen and shortlist 10 high quality technology companies seeking capital for growth. Yen Expo will then work closely with the short-listed companies to make them investor ready prior to the event. […]
Non-resident Indians are increasingly looking at private equity (PE) funds as an alternative investment avenue. While the PE space has traditionally been the domain of institutional investors, now there is an increasing trend of high networth NRIs investing in such funds, said Mr Sonjoy Chaterjee, Executive Director, ICICI Bank. Mr Chaterjee, who is in charge of the bank’s International Banking, said that for NRI investors, this gives an opportunity of indirectly participating in growing sectors such as real estate and infrastructure. Mr Chaterjee told Business Line that the bank has successfully raised money from NRI investors in West Asia and the UK for two of ICICI Venture’s funds, India Real Estate Fund and the India Advantage Fund. Some other funds that attracted interest from NRI investors were the ones launched by JM Financial and the healthcare fund launched by Ajay Piramal’s group. […]
M&M, India’s largest utility vehicle maker, has signed a term sheet with Kinetic Motors, the Pune-based two-wheeler manufacturer, in its bid to acquire a majority stake in the company. A term sheet is a non-binding agreement setting forth the basic terms and conditions under which an investment is to be made in a company. M&M is looking to acquire 76% stake in the company valued at about Rs 120 crore. It is doing due diligence of Kinetic’s books and assets. A deal could fructify in the next two months if the due diligence proceeds smoothly, sources said. ET first reported on May 15 that M&M has been in talks with Kinetic Motors to acquire a majority stake. At present, though, there are no PE players in the race to invest in Kinetic Motors. M&M is one of India’s leading manufacturers of general-purpose utility vehicles, light commercial vehicles, tractors and SUVs. Kinetic Motors has presence in both motorcycles and scooters. […]
Johnson Matthey is likely to invest in the JV through its Dutch subsidiary Matthey Finance BV either by subscription to fresh shares or purchase of existing shares of Macred India from Dr Reddy’s or both, it is learned. The JM group which controls about a third of the world market in bulk opiates provides technology to only those companies in which it could get a substantial stake. It has no other partner in India. The JM group has the capacity to meet 31% of the world’s morphine demand and 29% of the world’s codeine requirement.The government has received a request from the UK-based company for picking up 49% stake in Marced India, government sources said. The application is to be considered by the Foreign Investment Promotion Board (FIPB) this week. […]
Khaleeji Commercial Bank has raised $163.5 million of equity from investors across GCC for Danat India Investment Company. Danat will invest in a real estate development project near New Delhi, targeted at the expanding middle class of India. India, currently one of the leading emerging markets is expected to be the world's third largest economy by 2050, ahead of Japan, the UK and Germany. “We are extremely pleased with the response to Danat, which is our first foray into the Indian Sub-continent,” said Khaleeji Commercial Bank chief executive officer Ebrahim H Ebrahim. “With a target return on investment of 83pc over a three-year period, Danat seeks to address the demand for middle income residential properties driven by increasing urbanisation, growing disposable income and easier financing options. It offers our investors an opportunity to potentially benefit from the continued growth of the Indian economy, especially the demand from its burgeoning middle class.” […]
Small-cap software developer Logix Microsystems is close to buying a US-based software firm for about $20 million to beef up its auto dealer-centric software-as-a-service (SaaS) offerings. Logix, with a market cap of $75 million, provides business and technology solutions to blue-chip companies in the US, Far East, Middle East and India. According to Logix managing director Sanjay Soni, the slowdown in the US economy has prompted most auto original equipment manufacturers (OEMs) and their dealers to take steps to cut operational costs using information technology. Through this planned acquisition, Logix hopes to cash in on this opportunity. SaaS can help companies slash the total cost of ownership (TCO) of IT infrastructure by 40% due to its pay-per-use nature. This way, user companies save the cost of owning infrastructure such as hardware and software and maintaining it. […]
Assimilating the take over of United Western Bank, IDBI Bank now is gearing up to acquire at least one more bank in the current fiscal in a bid to expand its branch network across India. Speaking to FE, Yogesh Agarwal, chairman & managing director, IDBI Bank, has said, “We have identified few private sector, also some of the public sector banks, and have already initiated the negotiations with them. A deal to buy at least one private sector bank is not ruled out completely in the current financial year. However, the merger with a public sector bank solely depends on wish and the policy adopted by the government of India.” Agarwal explained that IDBI Bank has got experience of two mergers. Even the government of India now looks at IDBI Bank as a focal point around which future mergers and acquisitions will take place. The bank is open to further acquisitions as past two acquisitions have accurately taught the bank to identify the prospective takeover targets within the Indian banking industry. […]
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