According to back of envelope calculations, the value of shares released in the past two weeks worked out to be Rs 262 crore (Rs 2.62 billion).
R-Cap, part of the Anil Dhirubhai Ambani Group, may get a controlling stake in the venture if the negotiations fructify.
The latest available data from the Reserve Bank of India show a 77 per cent jump in the FDI in the first half of the current financial year (April-September), compared to what was $19.5 billion the same period a year ago.
His debt woes may continue and losses double, but the King of Good Times was clearly in a defiant mood at a press meet in a packed venue in a suburban hotel in Mumbai on Tuesday.
BT has been associated with Tech Mahindra since the latter's inception and contributes 40 per cent to the firm's revenue but it has been looking at divesting its stake.
According to two independent sources in the know, GVK's lead underwriter, ICICI Bank, plans to reduce its exposure in the highly leveraged transaction. Following the move, the other PSU lenders have told GVK they, too, would like to proportionately bring down exposure.
Discussions have been initiated to sell the company to a Mumbai-headquartered, highly diversified, multi-billion dollar corporate group which has interests in retail and logistics, among various others.
According to two independent sources in the know, the group is exploring the possibility of tapping private equity investors for a significant minority stake in the company or may even exit the business, provided it gets a significant exit premium.
In what will be the largest media deal in India, Multi-Screen Media (MSM), which runs Sony Television in India, is set to buy Ramoji Rao-owned Eenadu TV's (ETV's) bouquet of 11 regional channels.
Cable and DTH companies cannot hold more than 20 per cent stake in each other.
After eight years of joint operations in news television, the relationship between Rupert Murdoch-controlled STAR Group and Ananda Bazar Patrika (ABP) TV has run into rough weather.
The website will now be repositioned as an e-commerce portal such as eBay.
Six months after the Paras deal, Actis wants to exit Sterling Hospitals, a Gujarat-based multi-speciality hospital chain with six centres, according to three independent sources in the know.
Top multi-system operators (MSOs, or large cable operators) are in talks to form a consortium to challenge the new distribution joint venture of STAR and Zee which was announced on Thursday.
A top source in OneAlliance confirmed they were looking to join the JV. He did not give details.
The high profile movement has, in fact, put in focus a growing talent crunch in the industry at the top management levels, especially with new companies and newer technology companies entering the fray.
Olympus Capital, UTI's PE arm to fund Rs 400 crore.
Japanese firm to retain Camlin, Camel brands.
He is not a regular corporate honcho. The appointment of Raj Nayak, often decsribed as 'the people's person' and 'go-getter' by his peers, as the CEO of Colors, the general entertainment channel of Viacom18, came as a surprise to many.
Though all the regulatory and ministerial approvals are yet to come in, two working groups with specific mandates have been set up.
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