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IFCI board may discuss stake sale on Apr 29

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Indian infrastructure specialist IDFC Private Equity is raising a new $700 million fund to buy stakes in firms expected to thrive as the country modernises its rag-tag power and transport networks.
IDFC’s MD for investment, Satish Mandhana, said fund would close in the next two to three weeks, with 85% of money from abroad. Foreign investors […]

In one of the biggest exits by a private equity firm in India, UTI Ventures has made 50 times its investment by selling its 35.5% stake in e-learning firm Excelsoft Technologies for Rs 125 crore to hedge fund DE Shaw.
UTI Ventures had invested Rs 2.5 crore in 2001 in the Mysore-based firm. Other firms reportedly […]

Anil Ambani group’s brokerage and financial services firm, Reliance money plans to double the number of its outlets to 20,000 by the end of this fiscal from the current 10,000, a top official said.
“We are in 4,257 locations presently and plans to enhance our presence to 5,165 centers by this year-end while the total number […]

National Stock Exchange has elbowed out its South African counterpart to become the world’s largest platform for stock futures trade, with a trading volume more than double of its nearest competitor.
NSE, bigger than its Indian rival Bombay Stock Exchange in trading volume, is already the world’s largest bourse in terms of value of individual stock […]

Blackstone may back out of race for IFCI’s 26%
Private equity player, Blackstone, is considering to opt out of the race for 26% stake in IFCI. This will leave seven contenders in race for the strategic stake. Sources said that Blackstone, the world’s biggest private equity player, has backed out of the race for IFCI. One […]