| Log in

News Roundup: UTV In Talks To Exit Indiagames

17 January, 2011

UTV In Talks To Exit Indiagames – Media and entertainment firm UTV Software Communications is in the process of selling its stake in UTV Indiagames, the online and mobile gaming subsidiary of the group. Indiagames founder Vishal Gondal, along with existing investors Cisco and Adobe, is in talks with both private equity consortia and strategic investors to buy back the stake sold to UTV. The deal is expected to be in the range of $80-100 million (Rs 360 crore-Rs 450 crore). UTV in 2006 had invested Rs 68 crore to acquire 51% stake in Indiagames and later increased it to 58%. (Business Standard)

Zephyr Peacock Invests $5M Aizant – Making first investment in the drug development space, private equity fund Zephyr Peacock India will invest $5 million in Aizant Drug Research Solutions.

Zephyr will take a minority stake in the Hyderabad-based start-up that provides contract research outsourcing, formulation development and clinical research services to both international and domestic pharmaceutical companies. The global outsourcing market for drug development is estimated to be at $120 billion annually, with clinical trials accounting for almost 70% of the time and money invested in new drug development. (Economic Times)

GIC, Providence In Fray For TutorVista – British publishing major Pearson may infuse fresh capital into TutorVista, which is raising in excess of $50 million. Pearson, which holds around 17% stake in the firm, could increase its holding as it participates in the latest round of fund raising where TutorVista has been holding talks with GIC Singapore and Providence. (Times of India)

Shapoorji Pallonji Sells Biotech Park – The Shapoorji Pallonji Biotech Park, which was set up in the year 2000 for promoting the growth of biotech sector in Andhra Pradesh, has been bought by the US-based Alexandria Real Estate Equities, Inc, from Shapoorji Pallonji & Co. The Andhra Pradesh government owns about 11% stake in the biotech park spread across 300 acres.

In February 2010, Alexandria had announced setting up of the Alexandria Centre for Science and Innovation at the Genome Valley in Phase III of the biotech park. (DNA)

Essar Starts Price Discovery For Vodafone Stake – Shares of Vodafone Essar Ltd, the third-largest telecom operator in India by subscribers, will be available on stock exchanges as Ruias complete the amalgamation of Essar Telecommunications Holdings Pvt Ltd (ETHPL) with listed India Securities Ltd, another group firm. Through ETHPL, Essar holds about 11% stake in Vodafone Essar, and the proposed amalgamation will pave the way for India Securities to own the stake. The listing of one of the Essar group holding firms is to enable price discovery of Vodafone Essar shares. (DNA)

NSE Investors Oppose Bimal Jalan Report – Several domestic and foreign investors who together hold around 26% stake in the National Stock Exchange have voiced their concern against the recommendations of the Bimal Jalan committee which is at variance with that of the management of the country’s largest bourse.  Beacon India Private Equity Fund, SAIF Partners, Norwest Venture Partners, Tiger Global and Actis Fund have urged Sebi that it should not accept the committee’s suggestions to ban the listing of stock exchanges. (Times of India)


Leave Your Comment
Walt Disney May Buy Out Indiagames

Walt Disney May Buy Out Indiagames

Preethi J. 6 years ago
Mumbai-based Indiagames, the triple play (PC, mobile, DTH) gaming subsidiary of...
UTV Set To Buy Adobe's 6.29% In Indiagames; Delisting Offer For UTV

UTV Set To Buy Adobe's 6.29% In Indiagames; Delisting Offer For UTV

Nandana Das 6 years ago
Mumbai-based UTV Software Communications Ltd, has struck a deal to buy out Adobe...
How was Zephyr Peacock's exit from Aizant Drug?

How was Zephyr Peacock’s exit from Aizant Drug?

Bruhadeeswaran R 7 months ago
Zephyr Peacock India, a mid-market private equity (PE) fund that invests in-...
No Comments

News Roundup: UTV In Talks To Exit Indiagames

Powered by WordPress.com VIP