DBS Chola Eyes Suitors For Loss-making AMC - Non-banking finance company DBS Cholamandalam Finance is learnt to be scouting for a buyer for its loss-making mutual fund arm, DBS Cholamandalam Asset Management. As part of the plan, the promoters of DBS Chola are weighing various options, including an outright sale of the mutual fund business or induction of a strategic or financial partner. DBS Cholamandalam Asset Management made a loss of Rs 38 crore for the year ended March 2009. The fund’s assets under management have shrunk to around Rs 2,700 crore in July 2009, from over Rs 3,800 crore in September 2007. (Economic Times

Kings XI Punjab Bats For Around 24% Stake Sale – The promoters of IPL team Kings XI Punjab are looking for opportunities to offload a 20-24% stake or sizable individual stake in the team. Yes Bank, the banker for the Kings XI team, has approached the Videocon group and some global investors to seek their interest in the venture. According to UK-based brand valuation consultancy firm Brand Finance, the team’s brand value this year is estimated at $36.3 million. (ET

Emerging Media's Badale To Buy 50% in Rajasthan Royals - Manoj Badale, co-founder and managing partner of the UK-based venture capital group Blenheim Chalcot, is acquiring a 50.3% stake in Rajasthan Royals. Rajasthan Royals brand is estimated to be worth $39.5 million. Jaipur IPL Cricket, the company which has the franchise for the Rajasthan Royals team, is wholly-owned by Mauritius-based EM Sporting Holdings (ESH), while Nigeria-based NRI family Chellarams holds 44.1% stake in ESH. Post this transaction, Emerging Media will own 50.3% direct stake in the cricket team besides an indirect stake of around 16% through the Mauritius joint venture. (ET)

India Cements Gets Nod To Raise $100 Mn – Chennai based cement major India Cements has received board approval for raising around $100 million (Rs 500 crore). The company will raise the money through the issuance of equity/equity-linked securities in Indian/foreign markets and qualified institutional placement. India Cement will invest the amount for various projects being undertaken and for repayment of debts and other general corporate purposes. (Business Standard)

After Warburg, Nalanda Looks To Exit WNS - Nalanda Capital, a Singapore based hedge fund, is also eyeing exit from outsourcing firm WNS Global Services. Nalanda Capital has 12.3% stake in WNS. The news came a day after PE firm Warburg Pincus has held initial talks to offload its 50.12% in WNS for an exit amount of $400 million. Nalanda Capital initially picked up 5.25% in WNS in March 2008 and has increased its stake to 12.3% to become the third largest shareholder of WNS. Fidelity Management & Research is the second largest shareholder in the company with 12.37% stake. (ET)

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