This just in. Private equity fund Warburg Pincus has sold 14 per cent stake in Sintex Industries through an open market transaction today, CNBC TV-18 reports. The fund is believed to have sold the shares at Rs 350 apiece to a group of unnamed foreign institutional investors.
Warburg had picked up 17 per cent stake in [...]

ICICI Venture-backed water and waste water technologies company VA Tech Wabag has acquired its erstwhile Austrian parent for $100 million, reports Business Standard. The report adds that this is the first major overseas acquisition by a private equity owned company in India. VA Tech Wabag India, currently owned by ICICI Venture, has acquired VA Tech [...]

Mumbai-based IT company Core Projects and Technologies will be acquiring three companies in the education sector in the US and UK for about $45 million. They include the buyout of US-based KC Management Group, which provides schools management systems, for about $30 million; UK-based Azzurri, an educational software provider, for nearly $12 million, and Hamlet [...]

Vijay Mallya’s personal indulgences continue. As reported earlier, the Indian liqour and aviation baron has picked up “significant” stake (media reports suggest 50 per cent stake for $120 million) in the US-based small aircraft maker Epic Aircraft. EPIC makes light jets and turboprops. Probably Mallya would be seeing India as an exciting market for such [...]

Tata Sons is going green. The holding company of the Tata group has picked up 7.3 per cent stake in engineering company Praj Industries, for Rs 337 crore ($85 million). It was an open market transaction.
According to Bombay Stock Exchange, Tata Sons bought 13.4 million shares at Rs 251 a share, from the promoters of [...]

As a major round of consolidation ended in Indian telecom business with the recent sale of Hutchison-Essar to Vodafone, we all thought, that is the end of it. Not really. It only marks the second wave of great Indian telecom rush. At least 13 companies have applied for fresh telecom licences for operating mobile [...]

(See updates below): Goldman Sachs is close to investing $40 million in Gurgaon-based power company Sudhir Gensets, VC Circle has learned. Sudhir is a leading name in power gensets in the range of 15-2,000 KVA in single units, and provides turnkey power solutions to most of India’s large corporates. Sources told VC Circle that the [...]

It’s a remarkable journey for a television content upstart. BAG Films and Media Ltd, the company owned by politician-cum-Indian cricket official, Rajeev Shukla, and his wife Anuradha Prasad, has raised Rs 67.62 crore ($17 million) by selling about 11 per cent stake to Fidelity. That values the Noida-based listed company at about Rs 600 crore [...]

Probably real estate developer Emaar MGF’s IPO is at the right time. Just when the Fed cut rates and interest rates are expected to go southwards - albeit marginally - Emaar MGF, a joint venture between Dubai’s Emaar Properties and Delhi-based MGF Group, has filed for IPO with market regulator SEBI. The company will sell [...]

Public sector bank Union Bank of India plans to enter private equity business. Private equity is one of the new three businesses the Kolkata headquartered bank wants to get into in the coming months, reports DNA. The other two are insurance and credit card. UBI has already struck a JV for insurance along with Bank [...]

Russian telecom services giant Sistema group may finally get a foothold in India. Sistema has reportedly acquired a majority stake in Shyam Telelink, an unlisted basic telecom services provider in Rajasthan, reports Business Standard. The company has apparently applied for telecom licenses nationwide on Tuesday, BS reports further. So Sistema is looking for a national [...]

Kuwait-based private equity fund Global Investment House has picked up a prime land in Navi Mumbai to build a five star international business hotel, reports Kuwait news website Al Bawaba. The fund has acquired a 10,377 sqm site, which will be developed as a JV in partnership with an unnamed South Indian infrastructure and development [...]

The Essar Group is raising a huge debt of $3.59 billion against its 33 per cent stake in Vodafone-Essar. This is considered the largest debt raising against shares by an Indian company. The company plans to use the capital to lower borrowing costs and to fund investment for the group companies. The group had made [...]

Here is a big move from India’s central bank, Reserve Bank of India, which allows Indian companies go abroad and make investments. RBI has eased capital outflows for individuals and companies, paving way for a fuller capital account convertibility. Companies can now repay overseas loans of as much as $500 million ahead of maturity without [...]

Indian stock markets have scaled another milestone this morning. Bombay Stock Exchange sensex has crossed 17,000, some 100 points above the previous day’s close. (The market has cooled off a little bit after touching 17025 in the early hours of trading).
Interestingly, it took just six days to cross the last 1,000 points. The last week’s [...]