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News Round UP: Sify Technologies to Invest Rs 300 Crore in 18 Months

23 December, 2008

Tata Secures Funds for JLR – Tatas have secures funding for JLR (Jaguar Land Rover), as the banker were convinced that the U.K govt. would not let the car manufacturer collapse. Reports suggest that Prime Minister Gordon Brown and Chancellor Alistair Darling had already privately agreed that short-term assistance was certainly necessary. (Business Standard)

Sify Technologies to Invest Rs 300 Crore in 18 Months in India – Sify Technologies will invest more than Rs 300 crore over the next 18 months to increase the data center capabilities in the country. The IT major is also looking at setting up data centers worldwide, starting from the Asian countries. The company intends to double its data center space in India to around 4 lakh square feet, from the present 2 lakh square feet. In the beginning, sift will add one more data center each in Noida and Bangalore. It will later set up data centers in other locations depending on customer needs. Currently, sify’s data centers are located in Navi Mumbai, Bangalore and New Delhi among other places. (Business Standard)

RIL, BP Sign Production Sharing Contract with Govt. – Reliance Industries (RIL) and British petroleum (BP) signed a production sharing contract with the Indian Govt. on Monday for the block KG-DWN-2005/2. The block was offered to the consortium under the New Exploration and Licensing Policy (Nelp VII). While Reliance has 70% participating interest, BP which also the operator of the block has the remaining 30%. (Business Standard)

Oil India Defers IPO Again

Oil India (OIL), which is a public sector company, has deferred its initial public offering (IPO) for the second time owing to the volatile market conditions. The IPO will now be launched in the next fiscal year. The IPO of 2.64 crore equity shares was scheduled to be launched on November 10 but the market conditions forced the company to defer its plans further. However, the capital market regulator’s nod for the IPO is valid until September 2009. (Business Standard)

DSB Group Holdings Plans $2.76 Billion Rights Offering – DBS Group holdings, the Southeast Asian bank, will seek S$4 billion ($2.76 billion) in a rights offering. The banking giant will issue one new share for every two held by the investors including Temasek Holdings Pte at a 45 per cent discount to its December 19 closing price. The sale will help restore capital ratios that were lower than at rival Singaporean lenders. (Business Standard)

IDBI and Exim Bank to Raise Rs 4,500 Crore Through Bonds – IDBI bank will raise up to Rs 2,000 crore through omni bonds, while Exim (Export Import Bank of India) plans to raise Rs 2,500 crore through bonds of varying maturities. Both the banks will use the funds for the growth of their businesses. Exim Bank has also got a refinance facility from RBI to meet the exporters’ needs. Both the entities expect to cut their cost of funds taking benefit of the sharply declining yields on corporate paper. (Business standard)

Tata Sons Increases Stake in Tata Communications – Tata Sons has consolidated its stake in Tata communications 10.88 per cent by acquiring an additional 2.37 per cent. The company has acquired 67.53 lakh shares representing 2.37 per cent stake in Tata Communications through an inter se transfer of shares, with this acquisition, tata sons now holds 3.10 crore shares in Tata communications. (Business Standard)

Dhanalakshmi Bank Seeks Fresh Capital by March 31, Plans 68 New Branches – Dhanalakshmi Bank plans infusion of fresh capital from qualified institutional investors by March 31, 2009. Thrissur-based Dhanalakshmi Bank’s current net worth is Rs 410 crore, while its capital adequacy ratio at 15.56 per cent. The bank also plans to open 68 new branches across the country. Out a total of 181 branches of the Dhanalakshmi Bank, 121 are located in Kerela. (Business Standard)

PSA International Hikes Stake in Chennai Port Facility  – PSA International Pte Ltd, sinagapore based container port operator has raised its stake in a new container handling terminal at Chennai port by 13% to 73%. The hike in stake was possible only after PSA International’s local partner in the venture agreed to settle for a 27% equity. The new facility, which has the capacity to handle 1.5 million standard containers a year, will start operations by may, 2009. (LiveMint.com)

Ascendas Group, Singapore Acquires GE Stake in Ascendas India Trust- Ascendas Group, a Singapore government-linked developer has increased its stake in Ascendas India Trust AINT.SI to 24.88 % from 17.13% by buying shares from General Electric Capital and on the open market. Ascendas India is a property trust that owns and manages business parks in India that cater to the IT industry. GE Capital now holds 4.99 percent of Ascendas India. (Reuters)

Jaiprakash Associates to Amalgamate Subsidiary Companies – Jaiprakash Associates Ltd will amalgamate its subsidiary companies Jaypee Cement Ltd, Gujarat Anjan Cement Ltd, Jaypee Hotels Ltd and Jaiprakash Enterprises Ltd with itself, from April 1, 2008. the scheme of amalgamation has been approved by the board of directors.(Business Line)

PGFI Plans to Set Up Asset Management Company – Kolkata based Peerless General Finance & Investment Company Limited (PGFI) is planning to set up an asset management company. It has received the preliminary in-principle approval from the Securities Exchange Board of India (SEBI) for the same. The company’s plans to enter mutual fund business come at a time when the mutual fund industry is reeling under the pressures of the slowdown. However, the company believes that India will come out of the financial crisis by the last quarter of 2009. (Business Standard)

Unitech Ltd. to Raise $500 Million via Equity Sale – Unitech Ltd. plans to raise $350 million through equity linked instruments by selling up to 10% stake in the company. Reports also suggest that the company is also looking to raise $150 million through special purpose vehicles for different housing projects. The total fund raising through equity sale is expected to be around $500 million. (NDTV Profit)

 

 

 


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News Round UP: Sify Technologies to Invest Rs 300 Crore in 18 Months

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