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PE stay put even as valuations dive

Although they’re not buying, private equity (PE) firms aren’t panic-selling either. The number of investment exits or selloffs by PE and venture capital (VC) firms dropped by a whopping 70% to just 12 companies during April-December from 60 companies in the corresponding period last financial year, according to data compiled by Venture Intelligence, a firm that tracks PE and VC developments in India. In terms of value, PE firms encashed $750 million through exits this fiscal as against $1.7 billion during the nine-month period last year. The exits have primarily been in the IT/ITeS, manufacturing and healthcare and lifesciences sectors. […]

MMTC to buy 15% stake in 4th currency futures exchange

Country`s largest public sector trading agency MMTC is entering to partnership with 4th currency futures exchange and it will invest Rs 225 million to pick up to 15% equity in that exchange, reports Business Standard. The exchange will be known as United Stock Exchange of India (STOX) and it is a special purpose vehicle (SPV) created by Jaypee Capital Services. Jaypee Capital, formed by Jaypee Commodities, will be the single-largest shareholder in the proposed exchange. […]