Leo Puri, Punita Sinha In Fray For UTI AMC Top Job – UTI AMC, India’s oldest asset management company with assets of around . 61,000 crore, could finally have a permanent boss after being headless for the past eighteen months. The AMC’s board has recommended to its shareholders names of three candidates for the position of chairman and managing director. The shortlisted candidates are AIG India chief executive and country head Sunil Mehta, senior advisor at McKinsey & Co in India Leo Puri and Punita Kumar Sinha, the former senior managing director of Blackstone Group’s India-focussed mutual fund. (Economic Times)
Accura Infotech In Talks With PEs To Raise Rs 200Cr – Accura Infotech Pvt. Ltd, which installs automated teller machines (ATMs), is in talks with private equity investors to raise Rs.125 crore to Rs.200 crore by selling a minority stake. The funds raised will be used to set up and operate ATMs for public sector banks in Uttar Pradesh. The company is looking at selling stakes of as much as 17%. Mumbai-based Mumbai-based Motilal Oswal Securities Ltd has been given the mandate to find an investor.
HDFC, TCS To Invest In Sports Education Startup – Tata Consultancy Services and HDFC have come together to invest in a startup that is in the business of sports education set up by former Intelenet CEO Susir Kumar. Kumar and the Intelenet team have set up Kids Out Of Home where HDFC and TCS have taken 15 per cent each. Intelenet was also initially backed by TCS and HDFC before being taken over by Blackstone in 2007 and was sold UK-based Serco for more than Rs 2,700 crore.
Chidambaram Looks To Revive Share Sale In SAIL, NTPC & Coal India – P Chidambaram, the newly appointed finance minister, is planning to revive share sales of listed PSUs, primarily those in which public holding is less than 25 per cent, hoping to send out a strong signal of his intent to improve government finances and boost investor sentiment. Companies whose shares could be sold include steelmaker SAIL, India’s largest power generator NTPC, and mining companies Coal India and NMDC.
Fabindia, The Bombay Store Chosen To Bid For Khadi JV – Private retail chains Fabindia, Shoppers Stop and a consortium led by The Bombay Store have been shortlisted to place financial bids for partnering government-owned Khadi Gram Udyog Bhawan in running and marketing about 10 of its mega stores across the country, it is learnt. One these chains, one would form a joint venture to manage the Khadi outlets through the public-private partnership mode, in which the private entity would hold 51 per cent equity and Khadi & Village Industries Commission (KVIC) would hold 49 per cent. (Business Standard)
L&T MF Appoints Shriram Ramanathan As Investment Head – L&T Mutual Fund has announced the appointment of Shriram Ramanathan as Head – Investment – Fixed Income. Prior to joining L&T Mutual Fund, he was with Fidelity Worldwide Investment as Portfolio Manager – Fixed Income since December 2009. (Business Line)