April 2009
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Star's Yashpal Khanna may start new venture in the media space

Yashpal Khanna, executive vice-president, Star India, has resigned after a 17-year tenure at the company. Confirming the development, Khanna said: “I have enjoyed my stint at Star. I have met and worked with some extraordinary professionals and, hopefully, have contributed to the growth of the company that I joined in 1992. I am leaving because I felt it was time to explore some of my dreams. I am now turning to be an entrepreneur, leveraging my experiences of my 35-year career and the relationships that I have built and nurtured over the years.” However, Khanna would not confirm what he was starting except to say that “the new venture would be in the media and communications space.” Earlier Khanna opted to stay in Star India while other team members joined INX Media. […]

April 29th, 2009

PEs bank on domestic money

Domestic private equity funds seem to be banking on Indian limited partners more in fund-raising. Weighed down by the state of affairs in the international markets, a couple of private equity funds have already raised funds from the domestic markets, and experts say the trend is likely to continue for some time at least. Sample this: Religare Milestone Private Equity Fund is raising a Rs 600 crore healthcare and education fund from domestic investors. Aditya Birla Private Equity is planning to raise $250 million from Indian investors and TVS Capital raised Rs 500 crore for its TVS Shriram Growth Fund from domestic institutions and high net worth individuals. […]

April 29th, 2009

India offloading stake in Asian Development Bank: Report

India is offloading its equity in the Manila-based Asian Development Bank (ADB), Indonesian news agency Antara said on Tuesday, quoting officials. Indonesia is ready to acquire 1.5 per cent of India's stake to increase its equity in the bank from current 5.5 per cent, the agency said. India owns a 6.3 per cent stake in the ADB, while China has a 6.4 per cent. […]

April 29th, 2009

Reliance Big TV plans to divest 49% in DTH arm

To expand its services in the five-player private direct-to-home (DTH) market, Reliance Big TV Ltd, the promoter of Big TV DTH services of the Reliance ADA Group, plans to sell up to 49 per cent to foreign private equity companies and global DTH players. According to sources, a clutch of leading private equity companies like the Carlyle Group, Sequoia Capital, KKR and US-based DTH firm Direct TV are said to be in talks with Big TV, which launched in August 2008. The company expects to close the deal this quarter, sources close to the development said. […]

April 29th, 2009