Finland-based mobile social messaging startup Jongla recently raised EUR1.4 million in a funding round from Oy Ingman Finance to be used for the development of its youth-oriented messaging app.
Tags: India
India's Future Group in talks to buy supermarket chain from Actis Capital
The Future Group was reportedly negotiating a takeover of the Bangalore-based supermarket chain Nilgiris. British private equity firm Actis Capital bought Nilgiris for USD65 million and currently owns 65% of the company.
Bank of America Merrill Lynch leads in deals in India
Bank of America Merrill Lynch or BofAML has topped Citibank and Morgan Stanley in executing deals in India for the past 11 months, completing transactions worth USD 7.96 billion.
Sources say USD1.2 billion Power Grid float to be held likely on December 3
India's Department of Disinvestment, which oversees the divestment of ownership stakes of the state of India in several companies, were pushing for a float to happen to capitalize on the rally of stocks on the financial bourse.
Singapore's Ascendas to raise SGD600 million to invest in Indian real estate
Singapore's Ascendas Pte Ltd. on Tuesday said it would raise SGD600 million (USD481.6 million) to invest in real estate in India. Singapore's sovereign wealth fund, GIC Pte Ltd. would be a principal investor in Ascenda's fund.
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Private equity firms investing in India seek government action on alleged fraud with portfolio firms
Many local and foreign private equity firms have been seeking the government of India to conduct investigations on alleged fraud and poor corporate standards of some portfolio companies.
With its joint venture agreement with Reliance Retail, Marks & Spencer CEO confirmed plans to expand the number of stores in India from 36 to 80 by 2016.
Pepsico CEO says that India has degraded from 'must invest' to 'must deal with' because of infrastructure issues such as corruption and unclear taxation policy.
The Indian government planned to gather USD 2.3 billion through a share sale of its two state-owned firms to boost public coffers, according to sources interviewed by Reuters.
Two unnamed sources said India would be selling 10% of its stake in Indian Oil Corp. India planned to sell 10% of its stake in Indian Oil Corp. That would amount to USD800 million, two sources familiar with the matter said.
Assam Chief Minister Tarun Gogoi, in a press conference, discussed the construction of a cancer and surgical cleft center in his state with the help of private entities.
Retail giant Lulu Hypermarkets, under the leadership Yussuffali MA is expanding to Asia, North Africa and Middle East.
The maiden fund of India's Kedaara Capital had reached a total amount of USD540 million. Kedaara Capital of India, which was co-founded by the former head for India of Singapore's Temasek Holdings, recently announced the accumulation of USD540 million for its maiden fund.
A panel from the telecom ministry recommended cutting down the price for wireless spectrum in India.
