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Ms Ramnath, who has been heading ICICI Venture fund since 2001, is likely to put in her papers on April 20, when the company’s board meets. The ICICI Group could also witness another change at a senior level over the next few days. Shikha Sharma, MD of ICICI Prudential Life Insurance, the largest private sector life player in India, may also put in her papers and move to Axis Bank. ET had first reported the likelihood of the two honchos putting in their papers in its edition dated February 12. Ms Ramnath is believed to have apprised senior ICICI Bank officials of her decision to quit earlier this week. Officials privy to information said Ms Ramnath is likely to float her own fund along with a couple of other ICICI Venture colleagues. Ms Ramnath was not available for comment. When contacted, an ICICI Bank spokesperson said, “We do not comment on speculation.” […]
Foreign private equity investors are eyeing the Indian real estate market to buy properties from small and mid size developers badly hit by the economic downturn. A clutch of big investors from the EU and Middle East are expected to invest $400-500 million in distressed land deals. These include Spain’s Nova Capital; Germany’s SachsenFonds, Qatar based Barwa International and Al Aqueela, UK’s Matrix Partners and Aberdean International. “In the next six months, we will see lot of distressed real estate deals in India. […]
Private equity players have made investments of $230 million in the microfinance sector in the last two years and the outlook for this segment looks upbeat as it provides a refuge from the global financial market turmoil. According to data compiled by Venture Intelligence, a research service focussed on private equity and venture capital, the microfinance sector witnessed as many as 14 deals worth $230 million during January 2007-March 2009. “Microfinance is sufficiently insulated from the global financial downturn. Besides, this sector provides a good way for investors to diversify their portfolio at a time when the urban and manufacturing-related sectors are witnessing a slump,” Venture Intelligence Managing Director and CEO Arun Natarajan said. […]
Carlyle Group will keep its pace of spending in China and India, taking equity investments in companies linked to basic consumer products, education, medical services and energy to grow amid a global slowdown. Carlyle Asian Growth Partners aims to keep spending on average between $200 million and $300 million a year in China, said Wayne Tsou, managing director and head of the fund. He didn’t give an investment target for India. “These companies are the most enterprising and they are most attuned to opportunities in the market,” Tsou said in an interview in Beijing yesterday. “More than 80 percent of the energies of my fund and team are spent looking at China and India opportunities.” […]
Future Group has announced that it will acquire a 60 per cent stake in Dhar & Hoon.The acquisition will be made by group company Future Brands, which is headed by Santosh Desai. The acquisition would enable the agency to work extensively in new media like the retail, mobile and the internet space. Speaking about the deal, Desai said, “The acquisition is in line with the objective of Future Brands to offer a full range of branding services to group companies as well as business partners. The new entity will be branded D&H Blurb Communications.” “The objective is to build a brand that comes from Indian reality and to build our overall service offering for our brands and clients. We are looking at aligning some brands with Dhar & Hoon as the creative custodian for those brands. I personally feel that the agency has a potential to grow as an independent agency.” Desai added. […]
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