ICICI Venture Fund Management Pvt Ltd, the private equity arm of India’s second largest bank ICICI Bank, will raise as much as $3 billion for an infrastructure and a real estate fund, reports Bloomberg.
ICICI Venture will start the roadshows next week for a $1.5 billion fund, and may also look at raising a real estate [...]

The US economic slowdown is throwing up a raft of new opportunities for Indian companies who have been eyeing acquisitions in the global market. Sanjay Dalmia-owned GHCL (formerly Gujarat Heavy Chemicals Ltd.) is one among those companies apparently in the race to acquire Linens’n Things, the second largest speciality home furnishings retailer in the US, [...]

Contrary to the reports earlier, Citigroup is not exiting the consumer finance business in India. “We are only repositioning and resegmenting the products. Consumer finance is important for India,” Sanjay Nayar, Citigroup’s country head in India, told Reuters.
According to a newspaper report early this month, Citigroup had approached several banks to sell its vehicle and [...]

After a fiercley competitive bidding, Lafarge, the world’s second-largest cement maker, has bagged Larsen and Toubro’s ready mix concrete (RMC) business for $349 million (Rs 1,480 crore). Lafarge will be acquiring 66 concrete plants located across India, in key markets such as Delhi, Kolkata, Mumbai and Bangalore, with total estimated volumes of 4.1Mm3 in 2008 [...]

Hewlett-Packard Co. has struck a $13.9 billion deal to buy Electronic Data Systems Corp., a move that would create a global IT services and consulting powerhouse with annual sales of around $37 billion, second only to IBM’s $54 billion services business.
The deal would be HP’s biggest since its $19 billion purchase of Compaq in 2002. [...]

At a time when two wheeler makers are turning four wheeler manaufacturers, here is a utility vehicle manufacturer intending to get into two wheeler space. Mahindra & Mahindra (M&M), the country’s largest utility vehicle maker is reportdely in talks to acquire Kinetic Motors, the Pune-based, struggling two-wheeler manufacturer.
According to The Economic Times, both companies are [...]

Sunil Mittal may not be able to sweet-talk this deal through so easily. From an outright acquisition, Bharti Airtel’s MTN gamble is now taking the shades of a merger with cash and stock as major components of the deal. This deal would be the first of its kind for an Indian company which is looking [...]

This is one deal that will uplift the sentiment of the deal community. Hewlett-Packard on Tuesday said it would acquire computer services firm EDS for $25 per share, or $13.9 billion. EDS owns a majority stake in Mphasis, an Indian IT services company. The deal is expected to boost computer-to-printer maker HP’s services revenue.
The deal [...]

Beverly Hills-based billionaire BK Modi, is all set to buy a 32 per cent interest in Sony’s Indian TV arm, Multi Screen Media (MSM), for some $320 million. MSM, earlier known as Sony Entertainment Television, owns television channels like SET India, SET Max, SAB TV, SET Pix etc. The investors will get an exit route [...]

Bharti has moved a step closer to strike the biggest overseas deal by an Indian firm. The telecom firm which is pursuing pan African telco MTN has received support from some key shareholders of the South Africa based company. The M1 Group, which holds 9.8 per cent in MTN, has backed Bharti’s bid.
A Dow Jones [...]

There are new suitors emerging for a stake in Tata Teleservices, one of the top six telcos in India. Mexican billionaire Carlos Slim’s Telcel, UAE’s Etisalat, Russian operator Altimo, besides private equity firm Apax Parrtners, could be the potential buyers of a stake in Tata Tele, The Economic Times reported today. The Mumbai firm could [...]

Here’s an update on what could turn out to be India’s biggest overseas corporate takeover. While Bharti Airtel and MTN have confirmed that they are in talks for a possible M&A deal, there are various new shades to the proposed deal. VC Circle’s round up on the developing story.
Non Compete Clause?
One of this can involve [...]

US-based Intercontinental Exchange Holdings Inc, which has an eight per cent stake in India’s National Commodity Derivatives Exchange (NCDEX), may have to pare its stake by three per cent to five per cent, according to the norms stipulated by market regulator SEBI.
The Atlanta based exchange has been approached by many financial institutions to acquire this [...]

It seems PSU divestment agenda is back in to the fore again. The government is reportedly mulling a proposal to sell 5 per cent stake in some of the already listed PSUs when these companies tap the market with follow-on offers. And the government has already started valuation and due diligence processes for almost 24 [...]

India’s best known first generation entrepreneur Sunil Bharti Mittal is now readying for his biggest move overseas. Mittal’s Bharti Airtel has reportedly put in a bid for a 51 per cent stake of South Africa’s leading telecom player MTN, which could cost the Delhi based company about $18 billion. If the deal indeed goes through, [...]