Heard on the Street: Tiger Global, DHFL, Fidelity
Global hedge fund, Tiger Global Management, is set to buy 1% stake in the National Stock Exchange (NSE), according to investment bankers.
By ET Bureau |
Tiger Global seen buying stake in NSE
Global hedge fund, Tiger Global Management, is set to buy 1% stake in the National Stock Exchange (NSE), according to investment bankers. Grapevine has it that Tiger has bought the stake from one of NSE's existing stakeholders, a public sector financial market intermediary, at Rs 3,500 apiece. The public sector entity, which currently holds about 7% in NSE, is also learnt to have recently appointed a merchant banker to sell another 1% stake in NSE. The deal values NSE at close to Rs 15,750 crore ($3.15 billion).
DHFL's back in action on news it may buy IDBI arm
Buzz about the sale of IDBI Housing Finance is once again doing the rounds. Talk is that the government may soon give the go-ahead to IDBI Bank to revive the sale process of its housing finance arm. It is rumoured that Dewan Housing, which emerged as the highest bidder, is likely to get the company. The Dewan Housing counter has been seeing some action in recent weeks. Top operator Old Fox is rumoured to have quietly built up a position in the stock over the past few weeks in anticipation of this development. Simultaneously, he is said to have diluted his stake in a state-owned mortgage major.
Many takers for top job at Fidelity unit
A couple of leading names in the fund management industry are believed to be in the race for the post o f the fixed income head of Fidelity Mutual Fund, which has been vacant, after Sameer Kulkarni left for BNP Paribas. Ritesh Jain, fixed income head of Canara Robeco Asset Management is one of names that is doing the rounds. Jain declined comment. The fixed income head of another fund house, where Kaala Patthar owns a stake, is also believed to be in the race for the post.
(Contributed by Reena Zachariah, Ashwin Punnen & Nishanth Vasudevan)
Global hedge fund, Tiger Global Management, is set to buy 1% stake in the National Stock Exchange (NSE), according to investment bankers. Grapevine has it that Tiger has bought the stake from one of NSE's existing stakeholders, a public sector financial market intermediary, at Rs 3,500 apiece. The public sector entity, which currently holds about 7% in NSE, is also learnt to have recently appointed a merchant banker to sell another 1% stake in NSE. The deal values NSE at close to Rs 15,750 crore ($3.15 billion).
DHFL's back in action on news it may buy IDBI arm
Buzz about the sale of IDBI Housing Finance is once again doing the rounds. Talk is that the government may soon give the go-ahead to IDBI Bank to revive the sale process of its housing finance arm. It is rumoured that Dewan Housing, which emerged as the highest bidder, is likely to get the company. The Dewan Housing counter has been seeing some action in recent weeks. Top operator Old Fox is rumoured to have quietly built up a position in the stock over the past few weeks in anticipation of this development. Simultaneously, he is said to have diluted his stake in a state-owned mortgage major.
Many takers for top job at Fidelity unit
A couple of leading names in the fund management industry are believed to be in the race for the post o f the fixed income head of Fidelity Mutual Fund, which has been vacant, after Sameer Kulkarni left for BNP Paribas. Ritesh Jain, fixed income head of Canara Robeco Asset Management is one of names that is doing the rounds. Jain declined comment. The fixed income head of another fund house, where Kaala Patthar owns a stake, is also believed to be in the race for the post.
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(Contributed by Reena Zachariah, Ashwin Punnen & Nishanth Vasudevan)
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