YES bank To Raise $80 M For Clean Energy Fund - Private sector lender YES Bank is likely to raise $80 million in the first round of fund-raising for its private equity fund focused on clean technology in the next two to three months. The bank is partnering private equity firm Global Environment Fund for the cleantech fund, which is targeting a total corpus of $200 million. Global Environment Fund primarily invests in clean technology and energy-efficiency segments in emerging markets. (Hindu)

ICICI To Cut Stake in 3i, Firstsource - ICICI Bank will reduce its stake in IT firm 3i Infotech and business process outsourcing company Firstsource to below 5% within a year. ICICI Bank is required to cut its holding in these companies to comply with regulations of the US banking regulator, Federal Reserve.  Both 3i and Firstsource have substantial operations in the US. The firms are in talks with several buyout firms.(Financial Express)

Bharti Airtel Ties Up $8.3 Bn - Bharti Airtel has arranged the funds of $8.3 billion (Rs 37,750 crore), of which $7.5 billion (34,072 crore) are in dollars and $1 billion (Rs 4,550 crore) in rupees. Standard Chartered Bank, State Bank of India and Barclays are the major contributors to this debt portfolio. The funds have been raised for its proposed acquisition of the African assets of Kuwait-based Zain Telecom. (Business Standard)

Religare Capital Markets Lays Off 17 - Religare Capital Markets (RCML) has sent packing two senior executives along with 15 others who were part of the research and sales team last week. The investment banking outfit is the wholly-owned arm of Religare Enterprises. RCML recently named Manoj Singla and Suhas R Harinarayanan from JP Morgan and UBS Securities, respectively as co-heads of the research team in Mumbai. (Economic Times)

Future Group-Carrefour Talks in Last Mile - The talks between Future group and French retail giant Carrefour, who have been in discussions for a while, have moved to the last mile. This comes after Future closing the buyout of South Africa's Shoprite Holdings single retail store in Mumbai. The French retail giant has announced that it plans to enter the Indian retail sector this year. (Times of India)

SBI Awaits RBI Nod on Tata Motors Finance Buy - State Bank of India is awaiting Reserve Bank of India’s clearance to acquire up to 30% stake in Tata Motors Finance. SBI is eyeing around 30% stake in the vehicle financing arm of Tata Motors, where as acquiring a stake beyond this level would require approval from the government. (BS)

Piramal Diagnostics Eyes Acquisitions - Piramal Diagnostic Service is planning buyouts in the unorganised industry as it looks to consolidate its position in the industry. The firm is exploring multiple buys in cities where it has a presence and new areas. The firm is a wholly-owned subsidiary of Piramal Healthcare. (Mint)

Govt To Raise Rs 40K Cr In FY 2010-11 - The government of India, which is selling stakes in public service units (PSUs) to raise funds for funding in development activities, targets to achieve Rs 40,000 crore fund in the financial year 2010-11. It has already raised Rs 24,000 crore, and is very optimistic to achieve the target. (Reuters)

TRF To Acquire Firm In UK - TRF Ltd, a Jamshedpur-based manufacturer of handling and processing equipment for power, steel, cement, mining, and fertilizer industries, is acquiring a firm in UK for £3 million (around Rs 20.3 crore). The target company is Hewitt Robins International Ltd, which is engaged in design and manufacturing of vibrating screens, feeders and crushing equipments and other related products. TRF board has already approved the acquisition plan of the company, it informed the Bombay Stock Exchange. (Team VCC) 

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