Idea Cellular's bid to acquire a controlling stake in the B K Modi-promoted Spice Communications has hit a pricing roadblock. Investment banking sources said that B K Modi had asked for Rs 70 a share for his 40.8 per cent stake in Spice, valuing the company at Rs 4,829.47 crore, but Idea is reluctant to pay that much."Any price valuing Spice Communications beyond Rs 4,200 crore would be expensive for Idea Cellular," said an analyst with a domestic brokerage.
Hyderabad-based ICSA (India) is divesting 14 per cent of its stake to Citigroup Venture Capital International Growth Partnership Mauritius for $30 million
They are making switch to the high-growth alternative investments fund industry, reports Pavan Burugula.
In a testimony to the intense competition that exists in the hiring market, India Infoline has poached four senior executives of global investment banking and brokerage service provider CLSA.
India's policy of rupee appreciation has had the unfortunate, and predictable, effects of not only hurting the Indian economy but also benefiting the Chinese economy.
Ma is also exploring strategic play in one of the largest media houses in India.
Growing business opportunities fuelled by a robust economy and an increasing number of private equity investors are prompting investment bankers to quit their jobs and turn entrepreneurs.
Although the pricing for the IPO is yet to be finalised, people in the know said the band could be Rs 275-300
Goldman Sachs, a global investment banking and securities firm, has invested Rs 100 crore for a significant minority stake to support TVS Logistics growth plans, which include expansion, increasing its investment in joint ventures and for acquisition opportunities.
This is the largest foreign direct investment proposal in the state and represents a five-fold increase from an earlier announcement by GFH for a $2 billion to $2.5 billion investment in an "energy city".
If Apple inspired the name selection, the culture within Edelweiss, which has grown from three members to a 1,200-plus organisation in a span of 12 years, is modelled on Infosys.
Goldman Sachs Investment Bank in a paper in 2003 argued with facts, figures and importantly optimism that the economic potential of BRIC nations is such that they may become among the four most dominant economies by the year 2050. The foreign ministers of BRIC nations will meet in Moscow in Spring 2008 to discuss issues of mutual interest in the international arena. The BRIC countries account for about 40% of the world population & each country has its own unique advantages.
What is the best course of action for executives trying to allocate a smaller bonus pot? And how should they manage expectations to prevent mass defections or legal action?
Everyone, from investment banks to economists, are speculating about the GDP growth rate. Such speculation is often followed by herd mentality. Everybody is a big bear these days. Everyone is predicting a US recession that will last much more than six months. But large parts of the world are yet to show any significant deceleration in GDP growth in response to the US slowdown. Another useful statistic is the changing share in world GDP growth, in US dollars, of India & China.
Commenting on the market regulator's decision, Managing Director of Kotak Investment Banking, Falguni Nayar said she believes that short-selling will create liquidity and deepen the market.
Investment bank JPMorgan has cut the GDP growth forecast for India for 2008-09 to 7 per cent from 7.5 per cent previously, citing expected moderation in industrial and service sector growth. The International Monetary Fund and Crisil have projected 8.2 per cent and 8.5 per cent GDP growth respectively. 7% is the lowest growth forecast for 2008-09 so far. JPMorgan said cut in growth expectations for India was due to US slump. It expects RBI to cut repo rate by 25 basis points.
The highest international offer of $3,40,000 (Rs 1.36 crore) during final placements on the Indian Institute of Management, Calcutta campus this year has come from an international investment bank. The highest domestic salary has been in the range of Rs 65 to Rs 70 lakh per annum.
The New-York based Goldman Sachs, one of the world's oldest and largest investment banking firms, plans to enter the buoyant mutual fund business in India.
A US-like sub-prime crisis is unlikely in India. First, borrowers in India have a different profile and banks too are a bit wary of lending to such borrowers.
Written by experts in management, business and strategy, these books promise to be inspiring, informative and educational. Some of them may even be fun reads.
Forecast of normal monsoon and a good harvest will boost the purchasing power of gold among farmers in India, said a report from the leading Asian investment bank, HSBC.
Three top global asset management and investment banks - American International Group, JP Morgan Asset Management and Japan's Mitsubishi UFJ Securities today announced their India strategy, vying for a place in the second fastest growing economy in t
Gaurav Mehta, one of 100 'Young Global Leaders', is tapping entrepreneurs inside rural Indians.
There seems to be no respite for primary markets as initial public offers (IPOs) continue to get a tepid response from investors. The latest example is Emaar MGF's mega IPO, which has not just been extended by five days, its price band has also been revised once again. The issue will now close on February 11, according to investment banking sources.
The NDB will have an initial authorised capital of $100 billion.
Still to complete their study, five students at IIM, Lucknow have got pre-placement job offers with an average salary of Rs 1 crore, all from global investment banks. The other IIMs are also seeing a rise in the number of pre-placement offers.
Two top investment banks, Enam Financial Services and JM-Morgan Stanley, have backed out from the high-profile initial public offering by real-estate developer DLF Universal
Tony Blair will be US investment bank JPMorgan's part time political advisor.
How domestic financial players are re-inventing themselves to get a larger share of the pie.
i-flex Solutions Ltd said UBS Warburg, an investment banking and securities firm implemented a cash, current accounting and payment system around Flexcube, the banking application suite from i-flex.
Oman's largest bank BankMuscat, which recently picked up 43 per cent stake in the domestic brokerage house Mangal Keshav Group
Close Brothers, the UK investment bank that on Friday said it had been approached by suitors, is understood to be in talks with Orix, the Japanese financial group, and Tata, the Indian conglomerate.
Invests $1.1 billion in 6 months, against $3.7 billion in 20 years
Most offers are coming from regular recruiting firms and sectors led by consulting, analytics, IT and finance.
Indian companies have made acquisitions of $1 billion so far in January
As many as 60 investors, overseas and domestic, private and institutional, have evinced interest in buying equity in the BSE.
The financial district of Wall Street is slowly turning 'green'.
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