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HCL Infosystems to raise Rs 847 cr via warrants issue, QIP
IT company HCL Infosystems today said it will raise funds to the tune of Rs 847 crore by private placement of shares with qualified buyers and issuing warrants.

Mamata's gratitude
Mamata Banerjee is so impetuous that it is hard to fathom her. A lady member of the Planning Commission recently cleared some railway projects. After that, she had gone to the prime minister, when she ran into Banerjee. Banerjee walked up to her and gave her a big hug. “Thank you for clearing my projects,” she said to the member, who was completely bemused.

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ISB to create capital network for startups
The Indian School of Business (ISB) is creating a capital network to provide seed money to prospective entrepreneurs. The institute will also help entrepreneurs in refining their ideas and business plans.
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Godrej looks to buy some of Sara Lee's international biz

FMCG player Godrej Consumer Products today said it is ready to acquire some of its joint venture partner Sara Lee"s international businesses if the US-based company decides to sell its global assets. - Glaxo-Smithkline Health aims to make Horlicks Nutribar a Rs 100 cr brand - Nestle"s profit slips to 5.07 bn Swiss francs in H1 "09 - Weak rains may drain FMCG revival - Priyagold to launch chocolates in September - Can Kwality Walls beat the heat? - FMCG players mull 3-6% hike in biscuits, confectionary prices The company is also looking for other acquisitions in the domestic and international markets and has earmarked Rs 1,000 crore for such deals. "We have the capability for acquisitions of up to Rs 1,000 crore in value and we are always on the look out for such deals. Such an action might also involve buying some parts of Sara Lee"s international business, besides its entire stake in our Indian JV," Godrej Consumer Products Ltd Vice-Chairman Hoshedar Press told reporters. He, however, said any acquisition of Sara Lee"s global businesses will only happen when the American company is able to find a buyer for them. "If they sell their global business of household and body care units, we have the right to buy a stake in it, particularly of their Indian business," Press said, adding that brands like Brylcreem hair gel and Ambi Pur air freshener might be attractive options. The two companies have a JV in India — Godrej Sara Lee — where the US firm has 51 per cent stake, while Mumbai-based Godrej group holds 49 per cent. Godrej Consumer Products last month said it is buying the stake of Godrej industries in the 40-year-old Godrej Sara Lee and the deal is consolidated. The company also said earlier that it is interested in buying the entire stake of Sara Lee in the JV. "The money (for acquisitions) will come from a mix of equity and debt. We have a dedicated team of specialists working round-the-clock scouting for merger-and-acquisition opportunities," he said.


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