The Department of Disinvestment may be asked to consider listing as many as 30 additional Central Public Sector Enterprises (CPSEs) in three years. Meanwhile, the Government is also likely to allow cash-rich, Government-owned companies to buy small stakes in other smaller Government-owned enterprises, in order to help them fulfil mandatory minimum public shareholding norms. At present, there are 100 CPSEs which are earning profit in the last 3 years, but still unlisted. (Business Line)
Nucleus Software eyes buys to boost financial services: Noida-based Nucleus Software Exports is eyeing for two acquisitions over the next one year to strengthen its offering for the banking and financial services. Out of INR 260 crore ($48.11 million) of cash, the company, would use INR 25-50 crore ($4.62 million - $9.25 million) for the acquisitions. The firm would close its first acquisition by March 2014. The mid-size information technology company is looking to acquire companies with intellectual property in the financial services area, which will enable Nucleus to deal with loan origination and loan servicing applications. (Business Line)
Qatar Air, Arabia may be next to invest: Gulf carriers Qatar Airways and Air Arabia are learnt to be next in line to invest in India after Etihad decided to pick up a 24% stake in Jet Airways for INR 2,058 crore ($380.8 million) last week. Qatar is learnt to be looking at investing in an existing Indian carrier with SpiceJet and GoAir being the frontrunners. IndiGo continues to tease investors with its most eligible and sought after status but has so far not shown any interest in selling stake to them. (The Times Of India)
MEdRC in talks with private equity players to raise INR 30 crore for expansion: Medical Education Research Centre for Educational Technologies (MEdRC) is in dialogue with private equity (PE) players for a fund infusion of INR 30 crore ($5.5 million) for its next phase of expansion. Beginning this fiscal, the company is also looking at introducing vocational skills certified courses for ECG assistants, lab assistants, patient assistant, physician assistant, healthcare coordinators and pharma sales executives. (Pharmabiz.com)
Courtesy: VCCEdge
