Citigroup has made an open offer to acquire 20 per cent stake in textile company JBF Industries Ltd at a price of Rs 46.50 per share.
If the deal materialises, Angel will have to pay at least Rs 800-1,000 crore (Rs 8-10 billion) for a 51 per cent stake, valuing the brokerage at Rs 1,500-2,000 crore (Rs 15-20 billion). The talks are at an early stage.
Technology solutions provider Caritor has reached an agreement with Citigroup Venture Capital International to make an investment in Caritor for joint strategic initiatives.
Hyderabad-based ICSA (India) is divesting 14 per cent of its stake to Citigroup Venture Capital International Growth Partnership Mauritius for $30 million
Pharma major, Dr Reddy's Laboratories Ltd on Wednesday said it will form an integrated drug development company 'Perlecan Pharma Pvt Ltd' with an equity capital of $52.5 million from two venture capital investors.
Citigroup's private equity arm Citigroup Venture Capital International, Baring Private Equity, TPG and 3i are the front-runners to acquire an equity stake in Sharekhan, the retail brokerage arm of the Mumbai-based SSKI group.
Citigroup Venture is planning to buy an equity stake in PINC for Rs.400 cr.
Enterprise software leader Oracle, which last year acquired Indian banking software firm i-flex Solutions, has made a final offer of Rs 2,100 per share to shareholders as it seeks to increase its stake to 90 per cent.