Indian Bitcoin exchanges are expected to be shuttering their services down after initially-quiet Reserve Bank of India (RBI) released a statement regarding the risks of using the cryptocurrency.
India
Indian firms ink private equity deals worth $10.68B in 2013
Indian companies were able to get private equity deals worth $10.68 billion in 2013, an increase of 12% in value terms compared to that of the previous year.
India’s Bombay Bullion Association plans 5pct stake purchase in MCX
India's Bombay Bullion Association, a traders' group representing 1,000 jewelers and traders, plans to buy a 5% stake in the Multi Commodity Exchange of India Ltd after the Forward Markets Commission said its founder was not eligible to run the bourse.
Lanco Infratech nears deal for INR7,500 crore corporate debt restructuring
Lanco Infratech on Friday reportedly met with a consortium of over 25 lenders to discuss details on its proposed INR7,500 crore corporate debt restructuring deal. The said deal will also give the cash-strapped company access to a new credit of INR3,500 crore.
Tesco-Tata-owned Trent Hypermarket joint venture gets green light from Indian regulator
British retailer Tesco's $110 million investment in Tata-owned Trent Hypermarket has received approval from India's Department of Industry Policy and Promotion (DIPP). This will pave the way for Tesco to get a clearance from the country's Foreign Investment Promotion Board (FIPB).
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A report on Arabian Business read that gold will be recording its lowest annual plunge since three decades ago due to combined pressure from the monetary stimulus easing of the US Federal Reserve.
Mergers and acquisitions or M&A deals continue to decline in India this year as slow business growth, an uncertain economic climate and the instability of the foreign exchange rate led investors to be more cautious, the Business Standard said in a report.
State-owned steel maker Steel Authority of India (SAIL) and the country's largest energy explorer, the Oil and Natural Gas Corporation, are in preliminary talks about jointly exploring coal-bed methane in Indian coal blocks. SAIL wants to use coal-bed methane to reduce input costs.
India-based integrated components manufacturer Amtek Auto agreed to acquire significant business interests in Germany-based integrated machine manufacturer Kuepper group in a deal reportedly valued at €200 million.
Kanakia Group, a conglomerate based in Mumbai, said that it intends to invest over INR500 crore for developing residential and hotel properties in the country. Kanakia currently has a real estate portfolio of more than 13 million square feet across residential, commercial and hotel properties.
Commodity analysts believed that the successive probings into mining deals in India could become a factor in the potential disinterest of investors pouring in funds into the country.
Venture capital firms have supported niche e-commerce firms in India like CarDekho.com and Lenskart because they are profitable but require less capital, The Financial Express reported.
UK Sinha, Chairman of Securities and Exchange Board of India or Sebi, said firms can be creative in their advertisements to attract investors to their IPOs but they must contain all required disclosures.
India-based supermarket operator is thinking of holding an initial public offering when the privately-held chain will draw near its first profit, a Bloomberg report said.
