February 23, 2011 / 09:47 IST
EXL Service Investors In Talks With L&T Infotech - Investors in back office firm EXL Service are in talks with mid-sized L&T Infotech to sell their stake in the Nasdaq-listed company. Institutional shareholders such as Aviva Investors Global Services, Blackcock Advisors LLC, TimesSquare Capital Management, Wellington Management, with at least 12 other investors hold around 53% in the company. About 24% in the BPO firm is held by Mutual Funds. EXL's enterprise valuation is about $533 million while its market cap at Monday's closing is about $637 million. (Economic Times)
Jindal Stainless To Buy Shah Alloys - Ratan Jindal-owned Jindal Stainless is in talks to buy Ahmedabad-based Shah Alloys as part of a lenders-initiated exercise to revive the ailing steelmaker. Shah Alloys was declared a sick company in Sept 2010 and lenders are now preparing a revival package. JSL which is also under CDR will have to take approval from its lenders for the deal. (Economic Times)Peppermint Hotels To Raise Funding - Hospitality start-up Peppermint Hotels is in talks with a slew of investors for expansion capital as more private equity funds chase deals in a sector that is rising on the back of a booming economy. The trendy hotel chain set up by Arjun Baljee , whose family earlier launched the Royal Orchid Group , expects to add seven new properties by September this year. (Economic Times)SIDBI To Launch Rs 1,000 Cr Venture Fund - Small Industries Development Bank of India (SIDBI) will launch a venture capital fund of Rs.1,000 crore ($220 million) to provide loans to small and medium enterprises (SME) sector. The asset size of SIDBI, which was Rs.37,000 crore last fiscal, was expected to be about Rs.41,000 crore in the current financial year. (Deccan Herald)Blackstone Execs Join Gokaldas Management - Blackstone Group LP, the world
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