May 2009
M T W T F S S
« Apr   Jun »
 123
45678910
11121314151617
18192021222324
25262728293031

Contact us

IDFC to close infra fund in 2 weeks

Infrastructure Development Finance Company (IDFC) will complete the process of raising funds for its India Infrastructure Fund (IIF) in a fortnight, said Vikram Pant, managing director, IDFC Project Equity, which manages the fund. IIF, which currently has a corpus of $925 million, is eyeing the $1 billion mark. “But even if we don't reach that figure, we will close the fund in two weeks,” said Pant. He said IIF is neck-deep in investments and doesn't want to focus on fund-raising now. Pant had earlier told DNA Money, “There is so much more value now in investing than in raising funds.” The equity-only fund's original target was $1.2 billion. Pant said IIF has committed nearly $270 million of the corpus. […]

IFC to invest $1 bn in India next fiscal

International Finance Corporation (IFC), the World Bank's lending arm, on Tuesday said it plans to invest close to $1 billion (about Rs 5,000 crore) in India in the next fiscal (July 2009-June 2010). “One billion dollar in India as a whole was done in the last year (July 2007-June 2008). This fiscal also we expect to do about the same amount…I think we would remain at the one billion dollar figure more or less for the next one or two years,” IFC South Asia Manager-Infrastructure Advisory Vipul Bhagat said. He further said that IFC is focused on investing in the country's infrastructural projects and close to 50 per cent investment would be in this sector. […]

KK Modi Group to acquire 10.83% stake in Godfrey Phillips India

The KK Modi Group has decided to acquire 10.83% stake in Godfrey Phillips India (GPI) from joint venture partner Philip Morris. The deal is estimated to be in Rs 100-125 crore range. Post acquisition, the deal will bring down US-based tobacco giant Philip Morris' stake in the joint venture to around 25%, while making the Indian business group the single-largest shareholder in the listed firm with 47% stake. GPI sells cigarette brands such as Four Square, Jaisalmer and Red & White. […]

Morgan Stanley buys 7.68% stake in Indiabulls Real Estate

Foreign fund house Morgan Stanley has acquired 7.68 per cent stake in Indiabulls Real Estate for about Rs 570.18 crore, through qualified institutional placement (QIP) route. Morgan Stanley & Co International through its various investment arms has acquired over three crore shares, representing 7.68 per cent stake in the realty firm, Indiabulls Real Estate said in a disclosure on the Bombay Stock Exchange. Last week, the company had said it would issue shares on institutional placement basis at the rate of Rs 185 a piece. […]