The Videocon group has expressed interest in buying telecom giant Motorola's struggling mobile handset business, which is being split into a separate company. "We have hired one of the world's top three investment bankers who will convey our interest to buy out the mobile handset business of the US company," Group Chairman Venugopal Dhoot told Business Standard.
Fuelled by the $57.8-billion merger of HDFC twins (HDFC Ltd and HDFC Bank), M&A (merger and acquisition) transactions in India touched a record high of $124.2 billion in the first half of 2022-23. Bankers said with several transactions, including the government's stake sale in IDBI Bank and Hindustan Zinc in the pipeline, the ongoing financial year will end up as the best year for M&A activity in the country. Apart from the HDFC transaction, the $6.5-billion acquisition of Holcim stake by the Adani family and L&T's $3.2-billion acquisition of Mindtree added to the record transactions in the first half of FY23.
While consulting firms and investment bankers preferred not to participate in the lateral placements as usual, sources say that companies such as KPMG, Aditya Birla Group, Barclays Bank, Microsoft, Infosys and Capgemini have issued the maximum number of offers.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
The Supreme Court will hear the issue related to taxing of business processing outsourcing units of multinationals in the country on February 13.
Moitra brought two birthday caps in the House to press her argument that the businessman being most talked about had "topi-pehnau-ed" the government.
'Whenever markets rally, the IPO pricing gets aligned to the prevailing market conditions.'
Housing prices, which have cooled down from their peak, are expected to rise by 15 per cent in the next one year on the back of increased demand, a report said.
Consider factors like time, risk profile, return requirements, expenses, liquidity needs, etc. Make sure to have insurance and opt for a term plan, says Amar Pandit.
Reliance Industries' eastern offshore KG-D6 gas fields at peak production will help the nation save $8.3 billion annually or 0.7 per cent of the GDP, investment banker Morgan Stanley said on Friday.
Grasim Industries, the leading cement maker of the A V Birla group, is not enthusiastic at a proposal to merge with its subsidiary, UltraTech, as it does not see value in the process at this stage.
India's stock market is still ruling only marginally lower than a month ago.
Foreign investment firms, especially private equity, are jittery about the Indian market as uncertainty continues to shroud the energy sector.
As is common practice of key parties associated with high-profile M&A deals being referred to by code names, this time around, Reliance has reportedly become 'Rome', MTN is 'Madrid' and Ambani is 'Apollo'.
Goldman Sachs, a global investment banker, said India's growth prospects remain strong despite adverse global developments like high commodity prices that have pushed inflation to high levels. The growth in 2008-09 is expected to be slow at 7.8 per cent as against 8.7 per cent in the previous financial year.
Global IT giant IBM is understood to be the front-runner to acquire Satyam Computer Solutions, a company it named as one of its main competitors in a filing to the New York Stock Exchange in February. The US major, said sources close to the developments, has begun discussions with Satyam's government-nominated board and expressed its desire to acquire a majority stake in the company. A team of investment bankers and lawyers from the US and Europe has been brought in.
Merger and acquisitions is the toast of the season and a full platter of deals is expected to hit the table very soon in the consumer goods space involving leading players like HLL, Dabur, Marico and United Spirits.
This financial world, experts now tell us was sometimes almost a make believe, a maya, which had got disconnected with the real economy of homes and factories.
As investment bankers in India returned to their offices in India's financial capital, Mumbai, after Christmas and the New Year, they must have suffered from deja vu.
Regulatory capacity, hyperactivity and excessive prescription are the biggest challenges the financial sector is facing, said Meleveetil Damodaran, former chairperson, Securities and Exchange Board of India (Sebi). Speaking at the Business Standard BFSI Summit on Wednesday, Damodaran highlighted the need for simpler, clear, and continuous regulations in the financial sector. He opined that the industry had felt it challenging to keep pace with the changing regulations.
As top bosses of Vodafone and Essar arrived in Hong Kong to negotiate a deal for acquiring Hutchison Telecom's Indian business, its parent company has indicated it will not consider any offer below $14 billion.
In a report, JP Morgan said Vodafone needed to raise exposure to high-growth emerging markets and offset prospective fall in EBITDA in Europe.
Following the herd right now is exactly the wrong thing to do, say market historians and economists.
The company has appointed an investment banker to find a buyer for its equity in its joint venture company, Raymond UCO Denim, whose loss doubled to Rs 120 crore (Rs 1.2 billion) in the last financial year. Europe's UCO Denim holds 50 per cent stake in the denim company, which was formed in August 2006. The turnover of the denim business is estimated at Rs 600-800 crore (Rs 6 to Rs 8 billion).
Sandeep Murthy, the 30-year-old CEO of Cleartrip.com, shares the story of his career success and some career advice.
"We forecast 7.3 per cent GDP growth (current financial year). We expect fundamentals to improve next year, propelling a recovery in H2 FY10," Lehman Brothers said in a report. For the first quarter ended June 2008, the economy registered a growth of 7.9 per cent against 9.2 per cent in the same period last year.
The venture capital industry is optimistic about renewed investments this year, with focus shifting primarily to the green technology sector, a survey by global consultancy KPMG LLP said.
If a giant panda can become a mighty kung fu warrior -- so could you. Not kung fu warrior, but whatever -- ballet dancer, arctic explorer or investment banker. Here are some definite takeaways from Kung fu Panda for all those of you struggling with questions of what, where and how to steer your career.
India's largest cement firm, Ultratech Cement, has joined the race to acquire the Holcim stake in Ambuja Cements and its subsidiary, ACC. UltraTech - part of the Aditya Birla Group - submitted a non-binding bid on Wednesday. Swiss multinational Holcim, which manufactures building material, is exiting India by selling its 63.19% stake in Ambuja Cements. According to banking sources, UltraTech has submitted a plan to Holcim, outlining divestiture details that would meet the norms set by anti-trust body Competition Commission of India.
India-born Anshu Jain, who heads global markets division of German banking giant Deutsche Bank, has been named as the second most influential person in Europe for the third year in a row.
Although industry analysts are welcoming Kingfisher Airlines' stake acquisition in Air Deccan as the right move towards consolidation
The government holds 90 per cent stake in ITI which is valued at Rs 7,550 crore.
Between 1964 and 2001, 35% of IIT graduates moved to America for work or studies. But from 2002 onwards, only 16% have opted for 'one way plane tickets.'
Nine lenders have exposure to the promoter entities and had taken listed operating companies' shares as collateral from the promoter companies.
According to an investment banker, apart from other international suitors, the Indian companies such as Godrej and Marico too have been approached for picking up the stakes in the home and personal care products company.
Heads of various public and private sector banks on Thursday sought to present a counter-narrative on RBI Governor Shaktikanta Das warning lenders about the perils of extreme risk aversion in the pandemic-stricken environment where credit demand is on the wane.
Logistics services provider Delhivery is likely to launch its downsized initial public offering (IPO) this week, said people in the know. The Softbank-backed firm may trim its issue size from Rs 7,460 crore to Rs 5,500 crore to align with the volatile market conditions, sources said. Sources added the fresh issue component of the IPO could be reduced to Rs 4,500 crore and the OFS component to Rs 1,000 crore.
