November 2010
M T W T F S S
« Oct   Dec »
1234567
891011121314
15161718192021
22232425262728
2930  

Contact us

Contact us

Financial Tech slashes stake in rival NSE

Financial Technologies, a promoter of MCX-SX, has sold 4.4 lakh shares of its rival,the National Stock Exchange, for Rs 167.2 crore. The identity of the buyer is not known, as the company has not disclosed this information in its communication to both the BSE and the NSE. After the sale by the firm, which is promoted by Jignesh Shah, who is also the promoter of MCX, a commodity bourse, its stake in NSE has come down to 10,000 shares. In August 2007, Financial Technologies bought 4,50,000 NSE shares, or about one per cent of the stock exchange, from ICICI Bank for Rs 125 crore. The company has now made a profit of Rs 42.2 crore from the sale at Rs 3,800 per share […]

November 15th, 2010

Sahara to buy London's Grosvenor House Hotel for GBP 470 mn

Sahara India Pariwar , the conglomerate run by Indian billionaire Subrata Roy, is all set to buy the landmark Grosvenor House hotel in central London, which was once home to the Duke of Westminster. According to the Sunday Times, Royal Bank of Scotland, which took control of the property in 2001 when it paid 1.2 billion pounds for 12 Le Meridien hotels as part of a sale- and-leaseback deal, has agreed to sell Grosvenor House Hotel to Subrata Roy for a knock-down price. The five-star hotel will be sold for about 470 million pounds, the report said. Sahara is believed to be taking advice from consultants DTZ and Blandford Goldsmith on the real estate deal. […]

November 15th, 2010

Jupiter buys stake in Sical Logistics

IDFC Private Equity an arm of the Infrastructure Development Finance Company Limited has exited its investment in Chennai based Sical Logistics. The PE firm has sold its 13.3% stake estimated to be around INR 43.8 crore. The entire stake was acquired by Bangalore based investment company Jupiter Capital Pvt Ltd. According to company, the company has sold the stake for INR 83.4 per share as against its acquisition price of INR 222 per share. The entire stake was acquired by Jupiter Capital, a Bangalore based investment company promoted by entrepreneur and MP Rajeev Chandrasekhar. It may be noted, IDFC Private Equity had invested around INR 117 crore in March 2007 in, Sical Logistics, which is part of AC Muthiaha’s SPIC group. […]

November 15th, 2010