Private Equity
JPMorgan To Double PE Allocation – The third largest U.S. bank plans to increase
private equity investments in India to $1 billion as country’s capital markets hit new lows for the year. JPMorgan also plans to invest about $500 million to build its corporate finance and advisory operations, reports Bloomberg. Last month it had appointed Kalpana Morparia, an ICICI Bank veteran, as its country head.
Mergers & Acquisitions
Amid Global Turmoil, Tata Sons Looks For Acquisitions - The holding company of the Tata Group is looking for acquisitions in US and Europe as credit crisis pull down the valuations. Tata Sons believes that there are fewer opportunities in the developing world, Bloomberg.
BCCL Acquires Stake In Royal Hygiene – Bennett, Coleman & Co Ltd has acquired stake in manufacturer of high-end sanitary napkins, Royal Hygiene Care Pvt Ltd (RHCPL). The company markets its product under the name 'She Comfort' and has manugacturing facilities in Maharashtra and Gujarat, reports TOI.
Cash Rich Swan To Buy More Licenses – After raising $900 million from UAE’s Etisalat by offloading a 45% stake, Swan is set to acquire the mobile licences held by Allianz Infratech in two circles. Acquisition of these licenses in Madhya Pradesh & Bihar circles will give Swan 15 licenses. It plans to rollout its telecom services by first quarter of 2009, reports Economic Times.
WPP To Acquire Design Consultancy Firm Umbrella – The UK-based advertising major is set to acquire a majority stake in Umbrella, an independent brand and design consultancy based in Mumbai. Post-acquisition, WPP would make Umbrella a part of Bates 141, reports DNA. WPP has acquired Quasar Media and Ray+Keshavan in India.
Balaji Tele May Pick Up Stake in 9X - Private equity-backed INX Media’s Hindi general entertainment channel may divest significant stake to Balaji Telefilms. The promoters may look for a valuation of $120-150 million for the channel, reports Economic Times. This news comes on the backdrop of reports suggesting that Balaji may is applying to start its own entertainment channel.
Policy
SEBI May Ease Foreign VC Norms – The nodal body may discuss clearing of as many as 80 applications through the foreign venture capital investor (FVCI) route when its board meets on October 6. Sebi will also discuss the progress of reforms in IPO markets, current turmoil in financial markets among other things, reports Business Standard.
Corporate
Skoda To Launch Finance Arm – Czech car maker will launch its finance arm, Skoda Finance, by last quarter of this year. The move is aimed at pushing up its sales in the country as lending rates are increased and credit norms are being tightened, reports Business Standard. Skoda sells four models in India - the Fabia hatchback, the Octavia, Laura and Superb sedans in the price range of Rs 4.8 lakh to Rs 24 lakh.
Rajasthan Royals To Go Public – The Indian Premier League champions may soon be going public. Emerging Media, which comprises of owners of the team, have decided to float some equity in the market and get listed, reports Times of India.
Societe Generale To Set Up NBFC- The French banking major is planning to set up a separate non-banking finance company (NBFC) and is about to file for an NBFC license with the RBI, reports Business Standard. It is also planning to double the headcount at its Global Solution Centre in Bangalore and invest about $7.4 million to develop a new campus in Chennai or Pune.