Private equity firm Carlyle Group and associates will acquire a controlling stake of over 50 per cent in PNB Housing Finance by investing in the Rs 4,000 crore preferential issue of equity and warrants of the Delhi-based mortgage lender. After the proposed transactions, expected to be completed by January 1, 2022, Carlyle will also have the right to nominate the chairperson of PNB Housing Finance (PNB HF). This right will continue as long as it holds at least 40 per cent of the share capital on a fully diluted basis.
Washington-based Carlyle Group has invested $20 million in Ahmedabad-based pharmaceutical company Claris Lifesciences Limited to fund its Rs 190 crore (Rs 1.9 billion) expansion plans.
Soros, 94, in the recent past has spoken openly against Prime Minister Narendra Modi. The ruling BJP believe that he tried to interfere in Indian elections.
'As these segments are growing at 25 per cent for the last three years, credit quality has been extremely good.'
Private equity major Carlyle group on Friday sold shares worth over Rs 4,800 crore in SBI Cards and Payment Services and its nominee stepped down from the company's board. CA Rover Holdings (CARH), a subsidiary of Carlyle group, offloaded more than 4.7 crore shares of SBI Cards and Payment Services Ltd (SBI Card) worth about Rs 4,811 crore through open market transactions on BSE and NSE. With the latest sale of shares, the group's shareholding in the company fell below 10 per cent, following which its nominee director on SBI Card's board -- Sunil Kaul -- stepped down.
PNB Housing Finance on Wednesday said it will disclose the outcome of shareholders' meeting held a day earlier -- on Rs 4,000 crore capital infusion led by Carlyle Group -- in accordance with the order of the Securities Appellate Tribunal next month. The company moved the tribunal on Monday after the capital markets regulator asked it on June 18 not to go ahead with the proposed capital raise plan by allotting preference shares to the investors until it carried out a valuation of shares from an independent registered valuer. The SAT in an order dated June 21 allowed the company to go ahead with the EGM, but restricted it not to announce the voting results by the shareholders, as the matter is pending before the court.
Setting aside Sebi's direction, the Securities Appellate Tribunal (SAT) on Monday allowed PNB Housing Finance to go ahead with the shareholders' meeting on Tuesday to consider the proposed Rs 4,000 crore-investment by private equity firm Carlyle and others in the mortgage firm. However, results of the shareholders' voting will not be disclosed till further directions from the tribunal. The ruling comes hours after PNB Housing Finance informed stock exchanges that it has appealed against Sebi's direction on June 18 wherein it was asked to defer consideration of the proposed capital infusion proposal till a valuation of the company's shares is done by a registered independent valuer.
HDFC will use the proceeds of the issue to pump capital into its insurance venture, HDFC Standard Life Insurance Company Limited, maintain its majority stake in HDFC Bank and also support the mortgage business.
HP's 60.5 per cent stake is valued at $1 billion.
With their home markets in turmoil, large global investors such as Blackstone, Carlyle, Morgan Stanley, JP Morgan and the Government of Singapore Investment Corporation are actively scouting for and signing deals in the Indian property sector.
Defence major Boeing on Monday proposed greater business engagement with India, as Prime Minister Narendra Modi promised the US companies to provide friendlier business environment in the country.
Five years after its investment, private equity major Carlyle Group may exit a quarter of investment in mortgage lender HDFC Ltd.
Big TV is also in talks with other private equity majors, though these are at preliminary stages, to raise funds. The exact quantum of funding to be raised from Carlyle would depend on the 'promises' by players, he said. The company is also in discussions with major players like The Blackstone Group, Providence and Kohlberg Kravis Roberts for raising funds.
Prime Minister Narendra Modi on Monday gifted famous Indian tea to the captains of 11 large American corporations.
With funds from SoftBank, Delhivery plans to rapidly scale up its reach from 15,000 pin codes to 20,000 by the June quarter of 2019-20.
Trading across global markets remained volatile on Thursday, and the nerves of investors were tested by dollar weakness and continued worries about the deteriorating health of the financial system.
To expand its services in the five-player private direct-to-home market, Reliance Big TV Ltd, the promoter of Big TV DTH services of the Reliance ADA Group, plans to sell up to 49 per cent to foreign private equity companies and global DTH players.
About eight bidders are in the race to pick up stake in major private carrier Air Sahara, which has kept "all options open", including selling equity or strategic partnership, to fund its expansion plans.\n\n
World's largest asset manager Blackrock will host a global investors meet in India next year, CEO Laurence Flik conveyed to Prime Minister Narendra Modi.
Global private equity firm The Carlyle Group has invested $4 million in Worldzen Holdings Ltd, a Bangalore-based firm that specialises in business process outsourcing in the financial services, insurance and healthcare industries.\n\n\n\n
Keen to back start-ups while they are half-unicorns, SoftBank plans to invest $100 million in a firm with $500-million valuation.
US-based global technology giant IBM expressed keen interest in participating in India's newly-launched initiatives like Smart Cities and Digital India.
The CEOs round table is expected to be attended by Apple chief Tim Cook, Walmart head Doug McMillon, Caterpillar's Jim Umpleby, Google head Sundar Pichai and Microsoft's Satya Nadella.
IT firms in the US are struggling to find quality and right number of professionals
American CEOs expected to meet Modi on Sunday include Apple's Tim Cook, Walmart's Doug McMillon, Caterpillar's Jim Umpleby, Google's Sundar Pichai and Microsoft's Satya Nadella.
Booz Allen Hamilton, the employer of Edward J Snowden's who claims to be the source behind leaks about NSA's internet spy work, has become one of the largest and most profitable corporations in the country almost exclusively by serving a single client -- the US government.
Budget forces last minute change in finance minister's plans.
India's growth presents a win-win partnership for the country and the US, and American companies have a great opportunity to contribute to that, Modi told the CEOs.
Morey's tweet of support for pro-democracy protests in Hong Kong prompted Chinese sponsors and partners to cut ties with the league and forced the National Basketball Association (NBA) to answer difficult questions about free speech.
If indeed we want the board to manage the RBI, probably the government should take a close look at the US Federal Reserve system which has a two-part structure - a central authority in Washington, DC, and a decentralised network of 12 Federal Reserve Banks located throughout the country, says Tamal Bandyopadhyay.
He is meeting stalwarts such as Google's Eric E Schmidt, Carlyle's David M Rubenstein, Cargill's David W MacLennan, MasterCard's Ajay Banga, and Pepsico's Indra Nooyi.
As Prime Minister Narendra Modi arrived in New York on Friday on a five-day US visit, he was greeted with 'Har Har Modi' slogan.
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