The stock market volatility has started taking its toll on the primary equity market. Two prominent initial public offers have been forced to announce a cut in the issue price, given the state of affairs at the stock exchanges.
While Wockhardt Hospitals, the healthcare services arm of Mumbai-based pharma company Wockhardt, has brought down its issue [...]
Global online trading giant E*Trade Financial plans to sell its 40-odd per cent stake in Indian broking firm IL&FS Investsmart Ltd, sources told VC Circle. The NYSE-listed online broking company is reeling badly from the subprime crisis in the US, and the sell-off move in India is to at least partially offset the losses caused [...]
The $28.8-billion Tata Group is clearly proving itself as a global conglomerate. In its latest global move, Tata Chemicals has snapped up US-based General Chemical Industrial Products Inc. for $1 billion. Tata is acquiring the maker of soda ash from Harbinger Capital Partners. The acquisition will make Tata Chemicals the world’s second-biggest soda ash [...]
Kubera Cross-Border Fund Limited (KUBC), an India focused private equity fund listed in London Stock Exchange’s Alternative Investment Market, has invested $10 million for a 10.20 per cent stake in GSS America Infotech Ltd, an IT and outsourcing company. GSS has filed its draft red herring prospectus with Securities and Exchange Board of India [...]
Hyderabad-based risk management solution firm Goose Technologies is in talks with a few venture capital firms to raise $2 million or about Rs 8 crore. The funds proposed to be raised would be used for developing new solutions in addition to expansion of its overseas operations.
The firm had in the past received an early stage [...]
The venture capital firm NEA-IndoUS Ventures has invested $2.5 million in Bay Talkitec, a Chennai-based company specialising in media convergence solutions and wireless network. The company plans to deploy integrated audio and video services in the VAS segment for mobile operators in India and worldwide, according to a release.
Bay Talkitec, established in 1991, is one [...]
The government has today announced significant changes in the foreign direct investment regulations. It has allowed up to 49 per cent foreign investment in commodity exchanges, which includes 26 per cent foreign direct investment (FDI) and 23 per cent foreign institutional investment (FII), while a single investor’s holding is capped at 5 per cent. This [...]
The 250-year old travel and tour operator Cox & Kings is going in for an IPO in India which will raise Rs 370 crore, according to the filing with SEBI. The company is also looking at a pre IPO placement. The public issue will see a dilution of 23.48 per cent post-IPO, valuing the company [...]
UTI Asset Management, India’s second largest mutual fund group, is looking to bring in an international investor in the firm in a pe-IPO deal. The usual suspects Goldman Sachs, Lehman Brothers, Warburg Pincus, Singapore’s sovereign wealth fund GIC and a new investor like Japan’s Shinsei Bank are believed to be in the race for picking [...]
There will be more money coming by India’s way from the UK. The UK government-backed private equity emerging markets fund of funds manager CDC Group has committed almost $1 billion to a new emerging markets infrastructure fund, managed by Actis. This includes $750 million to the Actis Infrastructure Fund 2; besides CDC will seed infrastructure [...]
Exclusive: Mumbai Angels, an independent group of angel investors based in India’s commercial capital, has invested in AtYourPrice.in, a distressed inventory travel website. We had reported this investment in mid-last year when the company was in stealth mode. Now the website has been launched in beta phase. The company is founded by Ananth Narasimhan, who [...]
The IPO of the leading mobile value added services player OnMobile Global was oversubscribed 10.93 times (at the time of posting this story) . The volatile stock market might have impacted the OnMobile issue. In normal circumstances, the IPO could have got sold several higher times than what it’s now.
The stock is valued at 77.27 [...]
Like its peer ICICI Bank, the Housing Development Finance Corporation is on a value unlock mode. After netting Rs 235 crore by selling a 26 per cent stake in its general insurance business to ERGO International, an arm of the Germany’s Munich Re, HDFC plans to list its mutual fund subsidiary later this year. The [...]
A cautious Reserve Bank has kept all the rates unchanged, indicating that it will follow a wait and watch policy as far as the monetary policy is concerned. RBI, which presented its third quarter monetary policy, kept the lending rate, repo rate and cash reserve ratio, in tact.
The markets were disappointed, as they were expecting [...]
Kotak Mahindra Bank is taking a regional route to make its fortune from commodity trading exchanges. Kotak will acquire a 51 per cent stake in the 50-year-old Ahmedabad Commodity Exchange (ACE), reports The Times of India.
According to a circular sent by the exchange to its shareholders, the exchange will issue to Kotak Mahindra Bank Ltd [...]
