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Reliance Media World To List On BSE, NSE - Anil Ambaniâs Reliance Media World, will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Reliance Media World demerged from Reliance MediaWorks (Adlabs Films) earlier this year and shareholders were allotted 46 million shares in the ratio of 1:1, at a face value of Rs 5. (Business Standard)
VLCC On Rs 400 Cr Expansion Plan - VLCC will soon float its Initial Public Offer (IPO) to raise funds for expansion which it earlier postponed due to adverse capital market conditions following the global meltdown. The wellness chain is planning to invest Rs 400 crore on expansion. (Business Standard)
HCL BPO Eyes UK, US Buys In Media, Entertainment - HCL BPO planning for acquisitions in the media, publishing and entertainment (MPE) segment to enable it to grow its pre-press, ad production and editorial services to print, online and other mediums. The company is evaluating targets in the $100 million (Rs 465 crore) range. The acquisitions are likely to happen in the US or the UK, because the company feels these are mature markets. The company also plans to double the headcount in the MPE segment from the current 300 to 600. (Business Standard)
World Bank Seeks More Capital From India, Ups Loans - The World Bank pledged to lend more to India and sought the country's support to expand the multilateral lender's own capital base. The World Bank is also in talks with several other developing nations which have escaped relatively unhurt from the global financial crisis, to boost its capital. India's economy expanded at a faster pace than expected at 7.9% in July-September. (Wall Street Journal)
Shinsei Bank To Exit From India AMC - Japanâs Shinsei Bank Ltd is in talks with Daiwa Securities Group Inc., to sell its 75% stake in the asset management arm Shinsei AMC. The company debuted India when the industry was grappling with low retail investor appetite. AMCâs assets under management stood at Rs 519 crore in November. (LiveMint)
Govt Wants AI Listed By 2013 - The government will infuse additional equity into Air India to clear its debts and get listed by 2013. The government will infuse Rs 800 crore of additional equity early next year, and Rs 5,000 crore in 3 years in several installments. The airline needs capital to the tune of Rs 15,000-20,000 crore for early revival. (Economic Times)
DLF Plans Singapore Listing Of DAL - The K P Singh family owned DAL will be listed in Singapore by June next year to raise $ 1.2 billion dollar. DLF has to expedite the listing as one of its PE investors, Symphony Capital, wants to exit its $400 million investment in DAL. The listing decision is based on an assessment that Singaporeâs economy would expand by up to 5% in 2010 and that the real estate investment trust market will also rise along with it. (Financial Express)
Bharti Airtel's Foreign Acquisitions On Hold - Bharti Airtel said that its overseas acquisition plans are still on hold. The statement comes after the company called off talks with South Africa's MTN for a planned tie-up due to the inability of the South African government to accept the deal in current form. (Reuters)
BSNL Plans Acquisitions In Africa - Bharat Sanchar Nigam Ltd is looking at smaller acquisition opportunities in Africa. The decision comes after the companyâs plan to acquire a stake in Kuwaiti mobile telephone operator Zain was put on hold. (Reuters)
JSW Energy Seeks Anchor Investors In IPO - JSW Energy will offer anchor investors an 18% stake of its $583 million initial public offering. These will include overseas as well as Indian investors. The equity dilution after the IPO would be in the range of 14.77% to 16.64%. The company is to price its planned IPO at Rs 100-115 a share to raise up to $583 million. (Reuters)
Piramal Health To Raise Up to Rs 1000 Cr - Drugmaker Piramal Healthcare Ltd will raise Rs 1000 crore by issuing equity or equity-related instruments.The funds will primarily be used to retire the companyâs Rs 1500 crore debt. (Reuters)
Indian Founder Buys Mitsubishi Stake In Eicher Motors - The promoters of Eicher Motors Ltd have bought out Japan's Mitsubishi Motor Corp's 3.18% stake in the firm. Mitsubishi has ceased to be a promoter of the company. (Reuters)