January 12, 2011 / 09:04 IST
Reliance Venture To Invest Rs 60-70Cr In AllGreen - Reliance Venture Asset Management (RVAM), the venture capital arm of the Reliance ADA Group, is set to acquire a minority stake in AllGreen Energy Ltd. AllGreen has been established in the Indian renewable energy segment with the aim of erecting and managing biomass gasification power plants, from agricultural waste. AllGreen is set to establish multiple biomass-based RE projects in India within the next 10 years. (Business Standard)
Reliance Broadcast To Acquire Imagine Showbiz - Anil Dhirubhai Ambani Group-owned Reliance Broadcast Network plans to buy Imagine Showbiz, a Bollywood music and entertainment channel, adding the first Hindi content channel to its bouquet that now comprises four. The acquisition is likely to be priced at Rs 15-20 crore given its current owner's lack of interest in the music business. Imagine Showbiz was launched by the NDTV group in 2008 along with Hindi general entertainment channel Imagine. NDTV later sold its interest in both channels to Turner International. (Economic Times) iGate Open Offer For Patni To Start In March - Nasdaq-listed iGate today made an open offer to acquire another 20.6% in Patni Computer Systems. iGate will be paying Rs 503.5 per share. The offer takes effect March 4 and closes on March 23. The total payout will be $301 million, which the company has made provision for. Kotak Mahindra Capital will manage the open offer process. Patni
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