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Capital Market | 10 September 2012

HSBC Exits And ITC Ups Stake In EIH

by Charmi Gutka
 
@charmi
HSBC Bank (Mauritius) Limited sold its entire stake in hotel group @EIH_Limited1290 Limited.

The bank sold over 57.44 lakh shares at R73 per share amounting to R41.93 Cr. Of these shares sold, majority (57.33 lakh shares) was bought by Russell Credit Ltd. at the same price.

HSBC held 1% stake and it fully exited. Major stakeholders in the company include LIC (6.08%), Reliance Industries Investment (18.53%), and ITC Ltd. (14.98%) as on June 2012.

Welspun Energy Raises Funds For Solar Project

Welspun Energy has raised R335 Cr long term project funds from a consortium of lenders comprising of three public sector banks and one infrastructure finance firm. The funds will be used to set up a 50 MW solar power project in Rajasthan, according to BS.

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Ace Investor Rakesh Jhunjhunwala Backs Remedinet Technologies

Ace investor Rakesh Jhunjhunwala has invested an undisclosed amount in Remedinet Technologies, software firm which provides solutions to manage pre-authorised payments. The round also saw the participation of existing investors - Bessemer Venture Partners and Nirvana Venture Advisors Private Limited.

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