'Facilitating conversion of well-run NBFCs into banks is urgently needed.'
Hinduja Group's business process management entity, Hinduja Global Solutions Limited (HGS) said on Wednesday that it has entered into definitive agreements to divest its Healthcare Services business to funds affiliated with Baring Private Equity Asia (BPEA), at an enterprise value of $1.2 bilion. The deal is subject to closing adjustments, and is expected to complete within 90 days, subject to shareholder and other regulatory approvals. "The cash that will come in as a result of this transaction will be deployed to growing the business as well as looking at buying some capabilities...where capabilities are important for being able to do a good job of customer experience transformation.
Baring Private Equity Partners on Monday denied any plans to restructure MphasiS BFL or its management team.
The size of knowledge process outsourcing industry, the high-end services entailed in business process outsourcing activities, has the potential to touch $16 billion by 2010 across the globe.
'The danger is that when the music stops, the fall will be sudden, faster, and deeper than anyone expects,' warns Debashis Basu.
The combined entity's headquarters will be in California, US.
JRG Securities Limited is a brokerage in India, and Baring will invest through a preferential issue and warrants for a minimum stake of 44.8% in the company.
In terms of the number of deals, there has been a decline of 13 per cent
This was mostly driven by Qatar Foundation Endowment's $1.26 billion investment in Bharti Airtel.
Investors prefer exits with lower valuation to staying invested for a longer term
The top four Indian IT firms have cash reserves of nearly $15 billion with TCS alone holding $5.9 billion in reserves, followed by Infosys with $3.6 billion, and Wipro with $3.4 billion. HCL Technologies has cash reserves of $1.75 billion.
Grant Thornton reports says total value of deals in 2013 crosses $8 bn, up 34% from the year-ago period, momentum likely to continue
Deepening the funding crisis that startups have been witnessing for some time, the October inflows plunged 75 per cent on-year to $3.3 billion across 75 deals, including six large deals worth $2.2 billion, according to an industry report. Exits touched half of the inflows at $1.6 billion across 15 deals in the reporting months, a significant improvement over the previous month which saw just $653 million worth of exits across 24 deals, but 69 per cent lower on-year basis, according to the numbers collated by EY for the Indian Private Equity & Venture Capital Association, the umbrella body the PEs and VCs. However, the report said, on a month-on-month basis, the inflows continued to grow, clipping at 60 per cent over the September numbers.
State Bank of India partnered GE Capital in 1998 for its credit card business.
India may adopt norms similar to the US Federal Reserve model, which regulates conglomerate-led banks in the country.
A committee suggested that CSR expenditure be made tax deductible, in order to incentivise spending by companies. It also said that CSR should not be used as a means of resource-gap funding for government schemes.
Traders have all but given up attempting to predict where the new-year rout will end
Led by Trent, which hit its lifetime-high recently, apparel retailers have gained between 10 per cent and 36 per cent over the past three weeks. Given the network of physical stores, these stocks shall be major beneficiaries of the unlock theme, with most states doing away with Covid restrictions. Amid improving footfall, analysts expect the sector to post double-digit growth in FY23.
FDA inspectors visited the Mohali plant in the process of giving approval to Ranbaxy's application for Valsartan.
The amount millenials spend on eating out is changing everything about the eating-out business.
Hyderabad-based Pi Datacenters wants to be the first destination of choice for enterprises in data and cloud services.
Indian roads continue to be among the most dangerous in the world. Few people are even aware that the Good Samaritan Law exists. Getting a licence to drive is still far too easy.
At 11:37 am, the S&P BSE Sensex was up 28 points at 27,037 and the Nifty50 was up 2 points at 8,268
Reason behind for the change in his stance: gas price increase.
Drivezy is helping people share their vehicles.
Prakash Bhandari chalks the journey of Lalit Modi from his troubled adolescent days to his mid-life crisis, from his grand success at the India Premier League to his dramatic exit from it
