Securities and Exchange Board of India (Sebi) has asked the listed as well as unlisted companies to appoint independent merchant bankers during the merger valuation to protect rights of smaller shareholders. The appointement of independent bankers would give a fairness opinion on the valuation done by valuers and reveal the valuations.

At a time when global funds are looking at a piece of India’s emerging commodity exchange market picking small stakes in the handful of commodity bourses, Reliance Money, the retail brokerage and distribution arm of Reliance Capital, is going overseas. It is close to signing a deal to acquire 10-15% stake in Hong Kong Mercantile Exchange (HKMEx) for around $15 million(~Rs 60 crore).

Market regulator Securities & Exchange Board of India (Sebi) has proposed to increase the shareholding cap for strategic invesors in stock exchange from the present 5% to 15%. This comes on the backdrop of shareholders who have stakes of more than 5% trying to pare down their holdings as per SEBI norms.

Hyderabad-based Indian School of Business is organising a conference on private equity in India. The conference, which has been titled as  "Private Equity: Pioneering Practices, Partnering Businesses" will take place on Saturday and has been organised by the Finance Club of ISB. There will be two sessions in the conference –

Credit Suisse has hired Pankaj Kalra from DSP Merrill Lynch as managing director in its India investment banking team. This appointment follows hire of three persons in the investment banking division last month.

Kerala-based NBFC, Manappuram Group of Companies has received second round of funding from private equity investors. U.K-based Alchemy Ashmore, a joint venture between Alchemy and Ashmore will make investments to the tune of Rs.32 crore in Manappuram General Finance and Leasing Limited (MAGFIL) and Manappuram Finance (Tamil Nadu) Limited (MAFIT).

Private equity biggie Warburg Pincus has picked up a 30% stake for $35 million (Rs 150 crore) in India’s deepest port, Gangavaram Port Ltd at Gangavaram, Andhra Pradesh, reports Mint.The investment in the first phase of the project is expected to be Rs 1,700 crore, and the inauguration of the port is e

Unorganised and organised retail must coexist and flourish in India…

After almost scaring the Tata Motors away from West Bengal, Mamata Bannerjee has now trained her guns on Reliance Retail. Well, Reliance Retail should be used to being targeted by feisty women politicians. Immediately after coming to power in Lucknow, Ms. Mayawati had earlier undertaken a similar [...]

NSE hasn’t setup intra-day data release for the currency futures market. I got impatient and setup something by myself, a Unix scripting solution that polls their website.