New York-based Citigroup Property Investors on Tuesday announced its partnership with Nitesh Estates, a leading real estate developer in Bangalore, to develop a $100 million 250 room luxury hotel in the city.
The high-profile bidding war for control of Hutch-Essar could intensify with reports in the British media suggesting that Indian partner Ruias have received funding pledges worth up to $25 billion to buy out foreign stakeholder Hutchison Telecom.
According to a study by the brokerage division of global financial services major Citigroup, promoter holding went up to 58 per cent in the BSE-500 companies in the second quarter this fiscal from 54 per cent in the previous three-month period. In contrast, FIIs, mutual funds, banks, insurance companies and retail investors cut down their holdings.
Asian countries (ex-Japan) including India and China, are now the most expensive region in the world as strong inflows into Asian funds are stretching valuations, according to analysts. Yet, Asian equities continue to attract big money. The region is trading at 29 per cent premium against the developed world and 14 per cent against global emerging markets (GEM) on price to earnings (P/E) multiple, said a report by the Citigroup.
At the current market price of the stock, that stake would be valued at about $1.5 billion.
With the consolidation process in the ISP industry happening all around, it is giving an impetus to players to move into the latest operations in Internet technology business.
Being a fund of funds, ING Global Real Estate does not invest directly in properties. This investment model allows it to put money in real estate investment trusts (REITs) and real estate operating companies (ROCEs).
World's largest private equity firm Blackstone, which is planning to raise $4 billion from an initial public offer in the US, may further boost its investment in India after closing the public issue.
The joint venture speculation between Reliance Industries and Dow Chemicals for Dow's underperforming commodity businesses could cost Reliance anything between $15 billion and $21 billion for a 60 -100 per cent stake.
Global financial services giant Citigroup has identified Jet Airways, Indraprastha Gas, Gokaldas Exports and Abhishek Industries as potential targets for leveraged buyouts by smaller companies looking for a presence in India, while acknowledging that
India's biggest drug maker Ranbaxy Laboratories Ltd has put in its bid to acquire generic business of German pharmaceutical firm Merck.
One sign of it was that the most discussed car at the Detroit show was not actually on display. It was Tata's $2,500 Nano small car for the Indian market, which captured the attention of US executives who have their own plans to push into India and to expand further in China.
Vikram Pandit has taken the helm at the troubled financial-services giant. He talks about the road back.
"Vikram was destined to succeed. He has been a brilliant student throughout and also possesses a steely resolve. He is a go-getter. Instead of bowing under any problem, he would go all out to find a solution," Pandit told PTI.
They have invested for the long term and made a strong organisational commitment by assigning senior managers to work with established local teams.
Alibaba Group Holding Ltd's initial public offering now ranks as the world's biggest in history at $25 billion, after the e-commerce giant and some of its shareholders sold additional shares.
Indian is planning to start hedging its international fuel purchase in the wake of spiralling aviation turbine fuel cost that is eating into its profits
The purchases, made through the open market on June 11, will take OrbiTech's holding in Polaris to 6.21 per cent, it said.\n\n\n\n
India's biggest airline IndiGo is set to file the prospectus next week for a domestic stock market listing.
According to a Thomson Financial research, no Indian investment bank figures in the top ten list of the M&A deals that was struck this year, which was topped by UBS.
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.
Global realty funds eye India with $15 bn kitty
India CEOs of 12 banks form pressure group within IBA.
Private equity fund Texas Pacific Group and global financial services major Citigroup have put in their bids to acquire nearly 40 per cent stake held by the promoters in Sharekhan
Victor Menezes, former senior vice-chairman of Citigroup, who last month donated $3 million to IIT Bombay Heritage Fund, speaks about his alma mater.
Hans Goetti, Director of Citigroup, says that India is not cheap, but attractive to long-term investors and has a favourable composition of imports. \n
SEC charged that Menezes, who retired in 2005 as senior vice chairman of Citigroup, allegedly sold Citigroup stock just before the April 15, 2002 company announcement about significant losses in its Argentine operations.
Infosys Technologies has announced that it has kicked off a buyback plan for a certain section of employees who have shares of the erstwhile Progeon, now Infosys BPO.
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.
The government has to take a call on reducing or retaining the excise rate.
Coffee Day Enterprises has already raised over Rs 334 crore from anchor investors.
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