As per reports, a clutch of private equity players are interested in acquiring UK telecom major British Telecom's stake in Tech Mahindra. British Telecom currently holds over 31% in the venture and is learnt to be keen on retaining 10% in the venture, post-transaction, given that it has committed $2 billion in business to Tech Mahindra, reports suggest.
Opto Circuits India said on Thursday, 4 September 2008, its board has deferred the decision of raising additional funds and will consider the same at the appropriate time.
A crucial meeting will be held in Kolkata today,5 September 2008, between representatives of the West Bengal government and Trinamool Congress chief Mamata Banerjee to end the standoff over land acquisition for the Tata Motors's small car project at Singur. Tata Motors Chairman Ratan Tata said said on Thursday, the company will do everything it can to roll out its super-cheap Nano car as close to the planned October 2008 launch timeline as possible.
Tata Power has bought an 11.4% equity stake in Australia's Geodynamics, a geothermal energy company, for A$44.1 million (about Rs 165 crore). The transaction, which will see Tata Power buy 29.4 million equity shares for A$1.50 a share, will bolster the Mumbai-based power company's presence in renewable energy space.
In a statement to the Australian stock exchange on Thursday, Geodynamics said the purchase includes an unquoted placement option exercisable at A$2.25 per share for every tw
o shares issued — 14.7 million options — expiring on February 28, 2009.
Source: Capital Market
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