| ICICI
Venture ties up with US realty firm |
 |
Private equity funds management
company ICICI Venture Funds Management Company
has formed a joint venture with the US-based Tishman
Speyer Properties to focus on developing real
estate projects in India. The details of the 50:50
joint venture will be finalised shortly. TSP is
a leading player in the real estate sector, which
has acquired or developed a portfolio of over
52 mn square feet, with properties around
the world, valued at over $15 bn.
The Indian joint venture is
expected to pursue 'ground-up' development of
commercial office, residential and retail properties
across India.
ICICI Venture will deploy the
capital for investments in projects under the
venture through its $300 mn real estate fund.
Besides being a development company, TSP is a
fund manager, which has a proprietary fund as
well as other third-party funds. TSP will invest
through these vehicles. Projects, which have approval
for foreign direct investment, will come under
the joint venture, while non-FDI projects will
be pursued independently by ICICI Ventures through
its real estate fund.
|
|
|
| UK-based
East Coast Media scouting for Indian partner |
|
| Joining the
beeline of companies wanting to explore the Indian
markets is UK-based East Coast Media, the media
training division of 75-year old Grimsby Institute.
East Coast Media is looking to launch a media-training
institute in India beginning June 2005. The institute
is currently scouting for an Indian partner to commence
operations.
The Indian partner
will be expected to provide the premises, infrastructure
and marketing of the Institute in the country- while
the company handles the content for the courses,
the staff and the training.
The Institute
offers courses in Broadcast Journalism, Scripting,
Film, Photography, and related fields, and is also
open to launching courses in advertising in India
given the scope. Over 5,000 students enroll at the
Grimsby Institute, with 160 being the intake number
for its media courses.
|
|
|
|
| IDG
setting up shop in India |
|
| International
Data Group (IDG) has decided to set up a wholly-owned
subsidiary in India to print and publish its scientific
and technical magazines including PC World, Computerworld,
CIO and Outsourcing World. The subsidiary, however,
will not undertake research activities within India
in the area of computing, interactive entertainment
and on-line services.
In the research
space, IDG group-company IDC already has an agreement
with Cyber Media India Limited (CMIL) to undertake
research in India and market IDC's worldwide research
material here.
While there is
a 74 % ceiling on foreign investment in Indian
print publishing companies, IDG is expecting to
make use of an exception to the rules, wherein a
special permission is required from the government
to set up a 100 % subsidiary in the printing
and publishing of scientific and technical magazines
and publications.
The local subsidiary
is also expected to act as a local editorial and
production support outsourcing hub for IDG with
quite a few of its international jobs, including
printing and publishing the parent company's technical
and scientific books and reports, being moved here
to India. |
|
  |
|
