Oil & Natural Gas Corp or ONGC said it would be spending about $9 billion in the next ten years to produce oil found in new blocks in the east coast of India.
Tags: India
Indian startup Little Eye Labs confirms acquisition by Facebook
Bangalore, India-based startup Little Eye Labs confirmed that it has been bought by social media giant Facebook for an amount between the range $10 million and $15 million.
State scraps plan to sell Coal India stake -FinMin
The government of India has cancelled its plan to divest a 5% stake in state-owned miner Coal India Ltd due to persistent opposition from trade unions, according to a finance ministry official.
Indian tech incubator BitChemy invests $6M in three startups -report
Hyderabad, India-based tech incubator BitChemy Ventures poured in $6 million in three startups - 3LOQ Labs, Cafyne Inc, and Altiux Innovations, according to a report.
JPMSL Copthall picks up 1pct stake in Indian travel company Cox & Kings
JPMSL Copthall Mauritius Investment Ltd. has acquired a little over 1% stake in Cox & Kings by buying 6,84,216 shares on Friday and 8,13,172 shares the day before. Shares in Cox & Kings closed at INR136.15 apiece on Friday's trading.
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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, 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.
Australian construction firm Leighton, is buyout out Welspun Group's 40% stake in the company in a $100-million deal (INR62 crore), according to a person directly familiar with the matter.
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.
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.
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.
Qatar Investment Authority, the sovereign wealth fund of the gas-rich, Middle Eastern country, is in talks with Mumbai-based Kotak Realty Fund to invest $200 million in a residential property in India.
