EQUITY FUNDS TAKE 26% STAKE IN DSQ

Article Abstract:

Two private equity investors, Goldman Sachs, US and Chase Capital Partners, have picked up 26 percent stake in Chennai-based DSQ Software Ltd. This will amount to 7.5 million shares in the company's enhanced post private placement equity capital. The deal is finalised between Rs225 crore and Rs250 crore. Commonwealth Development Corporation (CDC), UK, will divest its 19 percent stake in DSQ (worth Rs20 crore) in favour of the investors for a price of Rs275-Rs325 per share. The rest of the equity will be issued through private placement of new shares. DSQ will issue new shares on preferential basis for Rs375-Rs400 per share. (um)(psr)

Comment:

Two private equity investors, Goldman Sachs, US and Chase Capital Partners, have picked up 26 percent stake in Chennai-based DSQ Software Ltd.

United States, Computer Software, Software Publishers, Other Financial Vehicles, Investors NEC, Software, Goldman Sachs and Co., Investors, DSQ Software Ltd., Chase Capital Partners

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FIPB CLEARS VOLTAS SALE TO AB ELECTROLUX

Article Abstract:

Voltas is to sell its 80 percent stake in the white goods division to AB Electrolux (AE) of Sweden for Rs160 crore. The Foreign Investment Promotion Board (FIPB) has cleared this proposal. Voltas is restructuring its business by hiving off its white goods division as a separate company. AE will get the Voltas and Allwyn brands. The total cost of the restructuring is estimated to be Rs200 crore. Voltas will infuse Rs40 crore. It will transfer the household appliances and compressor business to the joint venture. AE will infuse Rs200 crore to upgrade the technology later. (rk)

Comment:

To acquire 80% stake in the white goods division of Voltas for Rs160 crore

Electrical & Electronic Equip, Electrical Equipment, Appliance, and Component Manufacturing, Household Appliances, Household Appliance Manufacturing, Appliances, Electrolux AB, Voltas Ltd.

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NOMURA GETS FIPB NOD TO TAKE 49% STAKE IN UTIS

Article Abstract:

Nomura Securities (NS) of Japan has got the approval of the Foreign Investment Promotion Board (FIPB) to hike its stake in UTI Securities (UTIS). NS plans to increase its stake from 40 percent to 49 percent in UTIS. It proposes to buy 9 percent stake for Rs25 per share at a premium of Rs15. Once its proposal is approved by the Government of India, the foreign equity stake will be Rs14 crore of the total paid-up capital of Rs35 crore. (gs)

Comment:

Gets approval of Foreign Investment Promotion Board to hike stake in UTI Securities from 40% to 49%

Nomura Securities Company Ltd., UTI Securities

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