Wipro Eyes Acquisitions In Niche Segments – IT major Wipro Ltd, Azim Premji-led company, is looking at acquisitions in the telecom, healthcare and energy utilities segments, as part of its plan to strengthen its services in these verticals. The company plans to expand operations in these segments and wants to grow via organic and inorganic route. Wipro is targeting smaller firms with strong product offerings, though the timeframe and the geographies for the acquisitions is not disclosed. (ET)
Tikona Gets Rs 500Cr PE Funding – Tikona Digital Networks, the wireless Internet broadband service provider, has raised Rs 500 crore three PE investors by selling a 70% stake. The PE investors include Goldman Sachs Investment Partners, Indivision India Partners and Oak India Investments. The company plans expand its broadband services to 50 cities by 2010 from 10 cities currently. Tikona was founded by former Reliance Communication management members Rajesh Tiwari and Prakash Bajpai. Tikona may raise another Rs 1,200 crore by 2011. (Economic Times)
Jaypee To Buy NCDEX Stake – Commodity market regulator FMC is looking at a proposal by NCDEX to induct Delhi-based broker Jaypee Capital Services as a strategic investor in the leading bourse. The NCDEX has proposed to sell fresh equity to Jaypee Capital in phases. At present, NSE, LIC and Nabard hold 15% stake each in NCDEX. (Business Standard)
Zensar Eyes Acquisitions – Zensar Technologies plans to complete at least one $40-85 million acquisition by September this and is looking at targets in the US and India. Zensar is eyeing companies in ERP support, inframanagement, application support and tech help. It has a Rs 160-crore surplus and plans to raise debt to fund the acquisitions. (HinduBusinessLine)
JSW Energy Eyes US Coal Mines – JSW Steel is in advanced discussions to acquiring two coal mines in the US. The deal for mines are located in West Virginia is expected to close in the coming months. JSW Energy said in November last year that it was looking to spend $500 million on acquisition of coal mines. (DNA Money)
Cox & Kings Eyes More Acquisitions – Mumbai-based travel company, Cox & Kings, which recently went public raising Rs 610 crore, has earmarked Rs 150 crore for acquisitions. The company has already made a couple of acquisitions in the travel space in Australia recently. Cox & Kings is eyeing buys in English-speaking nations like Canada, the US, England, New Zealand. (BS)
BPTP Plans Rs 1,500 Cr IPO – Realty company BPTP’s promoters would dilute 10-25% stake through an initial public offer (IPO) to raise about Rs 1,500 crore for funding projects and retiring debt. The company has ruled out any pre-IPO placements and plans to launch the IPO within two-three months after getting Sebi’s approval. (BS)
ArcelorMittal To Up Uttam Galva Stake – The world’s largest steel-maker will raise its stake in Uttam Galva to 33.7% after a 4.9% promoter stake transfer. After the open offer, ArcelorMittal now holds 28.8% stake in Uttam Galva. (BS)
IFFCO Forays Into Oil & Gas – Fertiliser cooperative IFFCO has made an entry into the oil & gas exploration sector by picking up a 10% stake in Canadian firm Americas Petrogas Inc. IFFCO has also acquired 20% stake in GrowMax, a subsidiary of Americas Petrogas with a large potash project in Peru. Americas Petrogas owns 11 virgin blocks, measuring 1.5 million acres, in Neuquen basin of central Argentina.
Texmo Pipes To Launch Rs 45 Cr Issue – Texmo Pipes and Products, a Madhya Pradesh-based pipes manufacturing company, will enter the capital markets with an initial pubic offering of 50 lakh shares. The issue will open on February 16 and close on February 19 with a price band of Rs 85-90 a share. At the upper end of the price band, the company will raise up to Rs 45 crore. (HBL)
Alka Securities To Invest In Realty, Agro-based Cos – Alka Securities Ltd, a Mumbai-based brokerage firm, is investing into an NBFC company, reality and agro based company. The board of directors of the company has approved the same in its meeting held on January 30, 2010, Alka Securities informed the Bombay Stock Exchange, without divulging the financials. (Team VCC)
ABN Amro May Lay Off 70 – ABN Amro India could lay off about 70 employees in its retail loans business as it has decided to freeze fresh retail loans, including credit cards and personal loans. ABN Amro, owned by the troubled UK’s Royal Bank of Scotland, has been slipping in the last year or so after scores of executives quit the company in India. (ET)
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