BAG Films To Sell 30% Stake - Broadcasting and television content company BAG Films & Media is looking to sell 25-30% to raise funds for its planned Hindi sports channel. The company is in talks with private equity investors Goldman Sachs, 3i and Blackstone. BAG Films runs three news channels, News 24, E24, Dhamaal 24, and produces fiction content for other channels. (Economic Times)

Tikona Raises Rs 1,100Cr - Wireless broadband service provider Tikona Digital Networks has raised over Rs 1,100 crore ($250 million) through a mix of share sale, debt and equity convertible instruments by existing and new investors. The company has offloaded about 4% stake through fresh issue of shares besides compulsory convertible debentures to raise about Rs 700 crore in this second round of fund raising. In February this year Tikona raised Rs 500 crore by offloading 70% stake to three private equity investors Goldman Sachs Investment Partners, Indivision India Partners and Oak India Investments.  (ET)

Kesoram To Sell Chemical Biz - Kesoram Industries will sell its chemical business housed under Hindusthan Heavy Chemicals. This division, along with spun pipes and rayon, contributes around 5.5% to the turnover of Kesoram. The flagship company of the over Rs 13,000 crore B K Birla Group plans to sell the chemical business and the closed Kesoram Textiles Mills. (Times of India)

Rolta India Eyes Business Intelligence Buys - Geospatial information solution (GIS) provider Rolta India is scouting for companies with business intelligence (BI) capabilities for acquisition. Rolta's board approved to raise $125 million for funding future acquisitions. Rolta is currently looking at a couple of targets. Rolta recently acquired the Indian subsidiary of Canada-based PCI Geomatics Enterprises. (DNA)

InCablenet Plans Rs 500Cr IPO - IndusInd Media & Communications Ltd (IMCL) is eyeing a market share of 50% in the cable TV distribution business in Gujarat and is also aiming a turnover of Rs 600 crore in the next two years. The Hinduja group firm, popularly known as InCablenet, is planning an IPO of Rs 500 crore in February 2011. The company also has businesses in content creation, acquisition and aggregation for TV services. IMCL enjoys 10% market share in India. (Business Standard)

Religare Capital Acquires Hong Kong Firm - Religare Capital Markets Ltd (RCML) is acquiring Central Joint Enterprise (CJE) that trades as Aviate Global (Asia), an Asia equities franchise headquartered in Hong Kong. The deal adds 30 professionals to RCML’s team in Asia and delivers on its commitment to develop a full service equities and investment banking business in the region. (ET)

Sierra Atlantic To Acquire Gaming Co - Sierra Atlantic, which has set up a gaming vertical recently, has decided to acquire a gaming development company this year. The acquisition could be in areas such as creative design space and Sierra's M&A team is looking for a suitable candidate. The company targeted to double the contribution from the present 10-12% from this vertical to 24% during the financial year. (HinduBusinessLine)

Morgan Stanley Arm Buys More Shares in Parkway -  Morgan Stanley continues to buy shares of Singapore-based healthcare firm Parkway Holdings from the open market. Morgan Stanley, the official financial adviser to independent directors of Asia’s largest listed hospital chain, disclosed on Wednesday that one of its UK subsidiary FrontPoint Management has purchased 35,000 more shares of Parkway from the open market at S$ 3.6 each. (Financial Express)

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