In the largest private equity deal in the country ICICI Venture Funds Management Co has concluded a $800 million (Rs 3,200 crore) deal to buy a minority stake in Delhi-based Jaypee Infratech, a subsidiary of the infrastructure-to-hotels Jaypee Group.
One of Lutyens' Delhi's much sought after addresses, 1 Prithviraj Road, is being put up for sale. Anil Thadani, the founder of private investment advisory firm Schroder Capital Partners, is the owner of the property, which is just under one acre. Sources told Business Standard that the property was being valued at Rs 60-80 crore (Rs 600-800 million).
The Department of Telecommunications (DoT) has prepared an internal note that suggests reversing spectrum allocation norms by giving new applicants for telecom licences preference in spectrum due to be released by the defence forces early next year.
In a strategic climb-down, key members of the Cellular Operators Association of India have come to a consensus that they are willing to go for open auction of spectrum for second-generation services beyond 10 MHz.
DLF Ltd is acquiring the privately-held super luxury resorts and spa chain Singapore-based Amanresorts for around $250 million.
Bharti Airtel and United Breweries have expressed interest in acquiring, respectively, the Delhi and Bangalore or Mumbai teams in the impending Indian Premier League for Twenty20 cricket matches.
A disclosure on its land reserves by the joint venture firm Emaar MGF has sparked off a debate on whether a real estate company with foreign investment can own agricultural land in India. Dubai-based Emaar holds around 41 per cent in the joint venture that is expected to raise Rs 5,000 crore (Rs 50 billion) from an upcoming maiden public issue.
Responding to a cabinet proposal to build a new airport in Jewar, Noida, Delhi International Airport Ltd (DIAL), the joint venture that operates Delhi airport, has told the ministry of civil aviation that the expanded capacity of the modernised airport will take care of the entire traffic requirement in the 150-km catchment area around Delhi for the next 20 years. Jewar is 68 km from Delhi airport.
Real estate firm Parsvnath Developers' quest for a mobile licence seems to have hit a roadblock at the Department of Telecom (DoT). Parsvnath, which is one of the seven realty firms in the fray for mobile licences, hasn't mentioned the business of "telecommunications" in its memorandum of association (MoA).
Leading TV channels will see a blackout of spot advertising from midnight tonight after Hindustan Unilever, Procter & Gamble, Airtel, Pepsi, Coca-Cola and Reliance Communications, among others, directed their media-buying agencies not to book such advertisements on 16 news and entertainment channels, including NDTV, Network 18, Zee News, Star News, starting October 16.
The fund, which will be launched next month, will have a tenure of ten years and the money will be invested in projects within three years. The fund from the country's largest private equity fund (it manages assets of over $2.5 billion in a diversified portfolio) comes just 18 months after it launched a real estate fund of $500 million. Of this, it has already invested 70 per cent in various projects.
An assorted bunch of farmers, small traders and non-government organisations (NGOs) have trained their guns on a legislation that allows private companies to directly procure produce from farmers. Termed the Model Agriculture Produce Marketing Committee (APMC) Act, the legislation was drawn up by the central government a few years back.
These towers will be offered in the second phase of a scheme, launched in July this year, to provide subsidy to companies who want to build towers in various clusters and run mobile services in rural areas.
Naukri.com, which voluntarily started gathering data about caste from registered job seekers from May 2006, said 19 per cent of them were women, 3.4 per cent OBCs, 0.8 per cent SCs and 0.2 per cent STs. There are over 130,000 OBCs, 38,000 SCs and STs, 760,000 women, and 8,000 physically challenged job seekers registered on the job portal.
AT&T has also applied for a universal access service licence (UASL), which allows operators to offer services in both GSM and CDMA technology, with the Mahindra & Mahindra group, for 22 circles. The US company, however, has stipulated that it wants a majority equity stake in the mobile venture.
The project will entail an investment of over Rs 60,000 crore (Rs 600 billion) and will be developed in a 50:50 joint venture with the Dubai-headquartered Limitless Holdings, a sister company of Nakheel and a part of the diversified Dubai World group
About 50,000 to 100,000 people - representing associations of farmers, traders, hawkers, and even chemists from all over India - will converge on Mumbai's Azad Maidan to demand that big corporations quit the retail business.
The company sacked nearly 900 employees and shelved its investment plans in the state, which included nearly 200 Reliance Fresh stores over three years and a back-end logistics chain.
Branded Mobi-Retail, this service will be offered to the 35 million subscribers of Reliance Communications, who will be able to use their handsets to buy over 100,000 products ranging from fresh vegetables to groceries, readymade garments, toys etc.
Among the new guidelines under discussion, DoT is looking at raising the net worth criterion of companies applying for a pan-India UASL licence from Rs 1,380 crore to Rs 1,500 crore.
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