HP's 60.5 per cent stake is valued at $1 billion.
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.
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.
Reliance Industries, which sold stake worth $21.7 billion in Jio Platforms, kept the league tables moving in spite of the pandemic.
Private equity (PE) is set to play a bigger role in banks. Of 21 recommendations accepted by the Reserve Bank of India (RBI) out of 31 made by its Internal Working Group (IWG), its stance on non-promoter holdings in private banks is seen with excitement, though it doesn't refer to PEs explicitly. On non-promoter holdings in these banks, the RBI said this will be capped at 10 per cent of the paid-up voting equity share capital in the case "of natural persons and non-financial institutions and entities"; and "at 15 per cent for all categories of financial institutions, entities, supranational institutions, public sector undertaking, or the government." While this is a modification of the IWG's stance for the non-promoter holding in banks at up to 15 per cent, it does open up a huge window for PEs, all the same. This is because, while the RBI has remained silent on the eligibility of industrial houses for bank licences, fresh high-quality capital in large amounts can only come from PEs.
However, the Carlyle-Advent consortium could revise its bid upwards, said two independent sources tracking the deal.
Prime Minister Narendra Modi on Monday gifted famous Indian tea to the captains of 11 large American corporations.
The current talks on stake sale by its promoters at India's seventh largest information technology services company, Patni Computer Systems, seem to be in the final stages. Whichever way the deal swings, analysts feel the company will lose some business.
Aditya Birla Nuvo is in talks with global private equity players Blackstone, Carlyle and KKR to sell shareholding in its proposed holding firm for its financial services business. The financial services holding company will house its asset management, insurance, stock broking, wealth management and private equity businesses.
Not just mid- and small-sized firms, even big ones will either sell group companies or stakes in their listed entities to tide over crisis; more sell-offs seen in coming months.
India story, pressure to invest are driving spurt in PE activity.
Falling equity markets have trapped major private equity investors such as Warburg Pincus, Blackstone Group, Carlyle, Apax Partners, Chrys Capital and Citigroup.
US-based buyout fund Carlyle, Providence Equity Partners, Warburg Pincus and Blackstone are understood to be exploring a buyout of Temasek's holding in Mumbai-based pure-play business process outsourcing firm Firstsource. The news triggered the company's share price to rise 6.76 per cent on the Bombay Stock Exchange (BSE) to close at Rs 43.45 on Tuesday. Warburg Pincus has a stake in WNS, a BPO company, while Blackstone has a majority stake in Intelenet.
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.
Indian cable companies may lose close to $200 million (about Rs 800 crore) in foreign investments this year as companies like Macquarie, Carlyle, Providence and Liberty Global
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.
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.
According to reports, the deal, if successful, could fetch Hutchison as much as $14 billion and would be Asia's largest private equity deal.
IT major Patni Computer Systems is close to acquiring a European IT company for $20-25 million (around Rs 100 crore) and is expected to announce the deal in the next two months.
Having cut eight deals last year, the $1.3 billion pharma major Ranbaxy probably has the sharpest negotiating skills in the business.
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
Both India and China together are the twin engines for Carlyle's third Asia Growth Capital fund. India is the core because it offers growth and globally on a risk-adjusted basis looks extremely attractive.
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.
Young Indian entrepreneurs hope to share some of the limelight too at the Hyderabad event.
Share prices of Dewan Housing, Indiabulls Housing, and PNB Housing have declined 30-80% in the past one year
IT firms in the US are struggling to find quality and right number of professionals
This is probably the first time a Hindu priest has been called for services at the national prayer service of the presidential inauguration.
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.
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.
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.
Her train was 8-foot-long and a limousine wasn't enough to carry it! Read on to find out how she finally arrived at the venue.
The National Stock Exchange's proposed IPO to raise Rs 10,000 crore this year is expected to see the largest ever PE exit, of around Rs 5,000 crore.
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.
