August 2009
M T W T F S S
« Jul   Sep »
 12
3456789
10111213141516
17181920212223
24252627282930
31  

Contact us

Contact us

MCX-SX to sell 47% stake, may fetch Rs 3k cr

Existing institutional shareholders are likely to hold a total of 20 per cent in the bourse. The MCX Stock Exchange (MCX-SX) would offload 47 per cent of its stake in the next two months with the intention to mop up around Rs 3,000 crore, a senior merchant banker said on Monday. MCX-SX, promoted by Financial Technologies, currently runs only currency derivatives trading and is awaiting approval from the Securities and Exchange Board of India (Sebi) to start trading in equities. “Banks are speaking to several investors to offload 47 per cent stake of MCX-SX. The talks are at an advanced stage and we hope to complete the process in the next two months,” said Rakshad Kapoor, investment banking head of Antique Capital Market. […]

August 4th, 2009

Kotak buys 51% stake in Ahmedabad Commodity Exchange

Financial services major Kotak Group on Tuesday (August 4) purchased 51% stake in Ahmedabad Commodity Exchange (ACE) and plans to convert the regional exchange to a national one within a year, a senior exchange official said. “Kotak purchased 51% stake in ACE after getting an approval from the regulator Forward Markets Commission (FMC),” the Exchange's Director S A Narayan said. The group today also informed the Bombay Stock Exchange that it is an anchor investor in ACE. “Kotak Mahindra Group has invested in ACE today, having obtained all necessary regulatory and other approvals,” the company said. The Ahmedabad Commodity Exchange, which deals in castor seeds futures, has an average daily trading volume of about 5,000 tonnes. […]

August 4th, 2009

Four PE cos in race to buy MSM stake

Four private equity (PE) majors — Providence, Carlyle, Bain and StanChart — are in the fray to buy a $225-250 million stake in broadcast network Multi Screen Media (MSM) with a fresh share sale process getting underway, said people familiar with the development. MSM broadcast network includes Hindi general entertainment channel Sony Entertainment Channel (SET), cricket and Hindi movie channel SET Max, SAB and SET Pix. A new investor will get roughly 42% stake in the company as the parent Sony has decided to dilute 10% stake along with Indian promoters who hold 32% and are seeking an exit. Sony will cut its holding to 51% to help MSM raise $60-70 million in capex. MSM’s investment bankers are holding talks with PEs with an expected valuation of over $500 million, a source added. […]

August 4th, 2009