|
|
The Dhoot family, the promoters of Videocon Group, has bought 14% equity in IOL Netcom, a Mumbai-based broadband company, from the open market. The transaction is being perceived by the industry as a take over bid. In the last two months, Shree Dhoot Trading & Agencies Ltd, an investment company of the Dhoots, has mopped up 11.72% shares in the loss-making firm, earlier known as IOL Broadband. This is in addition to the 1.97% stake that Videocon Realty & Infrastructure Ltd, a Videocon group company, owns in IOL Netcom. Sources close to the development said the Dhoots have hired an advisor for further negotiations to gain management control of the zero-debt company that was the first in Asia to launch IPTV. […]
Times Internet Limited (TIL), part of India’s largest media house (Times Group), has recently made a strategic investment equivalent to 50% stake in Webnotions Books India Private Ltd. Webnotions has entered India as the largest online book marketplace under the brand www.a1books.co.in. Webnotions USA was founded in 1995 by Mr. Shinu Gupta. It is based in Netcong, N.J.and has 70 employees. The India branch based in Noida, U.P commenced operations in December 2007. As part of this investment, the Times Group will create value for A1Books by providing brand support to expand its growing market. A1Books shall make available over a million book titles on TIL’s indiatimes.com and will in turn capitalize on the latter’s huge user base in India. A1Books' online book buyers will benefit from the synergies created by this move, as both companies share a joint vision of making quality books easily accessible. […]
UK-based `Genesis Asset Managers has picked up a 5% stake in pipe manufacturer Welspun Gujarat for over Rs300 crore from the secondary market. “The fund house has bought the stake from the open market. This shows the long-term viability of the company,” Welspun Gujarat president Akhil Jindal told PTI on 29 July. Welspun Gujarat’s stock was trading at Rs328 in the afternoon on the Bombay Stock Exchange, down from Rs343.1 from the previous closing. The market capitalization of the company was Rs6,115.53 crore. Another UK-based private equity and venture capital company, 3i acquired 6.6% stake in Welspun Gujarat from the secondary market in October 2007. (Livemint) […]
Country's second largest real estate firm Unitech Ltd has appointed swiss investment banker UBS to look for a global partner to dilute the company's 26 per cent stake in its telecom business. Unitech Wireless, which has received pan-India telecom licences, today said it would launch operations in the first quarter of next year. “We have appointed UBS for searching partners and divestment while management consultant McKinsey has been hired for overall telecom business plan,” Unitech MD Sanjay Chandra told reporters. He said the the company expects to finalise the foreign partner in next two months. “We are talking on the final number with couple of potential players,” Chandra said. […]
More than 100 funds dedicated to private equity investment in emerging markets have raised $35 billion in capital in the first half of 2008, a 68 percent increase over the amount raised during the same period in 2007, according to the latest numbers. Data from the Emerging Markets Private Equity Association (EMPEA) showed the total value of private equity funds raised in the first two quarters of 2008 was greater than the $33 billion raised during all of 2006. Sarah Alexander, president of EMPEA, said: “What began as incipient interest in emerging markets private equity has developed into an acceptance of the asset class as part of mainstream allocation strategy. Economic conditions in the US and Europe appear to be having less impact on fundraising for private equity in emerging markets compared to mature private equity markets.” According to EMPEA’s analysis 104 funds raised a total of $35 billion in capital commitments. Average fund sizes increased 72 percent, from $197 million in the first half of 2007 to $339 million during the first half of 2008. […]
The board of directors of Moser Baer has decided to invest an amount of Rs 1.02 million to acquire 51% of the equity shares in Lumen Engineering. The company is engaged in the manufacture of recordable compact discs (CD-R), rewritable compact discs (CD-RW), pre-recorded CD/DVD, digital versatile discs (DVD-R) rewritable digital versatile discs (DVD-RW) and LightScribe enabled media in its optical storage solutions. (My Iris) […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|