Finally Lehman announces the much expected and anticipated acquisition of Brics Securities.
Investment bank Lehman Brothers on Tuesday said it would acquire Institutional Equity Group of Brics Securities, a brokerage firm.
The acquisition would help in expansion of Lehman Brothers' presence by accelerating the development of its equities business and establishing an equity research and sales function, it said in a statement.
"India's economic growth and the increasing depth and breadth of its capital markets presents a strong business opportunity," Lehman CEO Tarun Jotwani said.
The acquisition would help Lehman Brothers to offer its clients more sophisticated and comprehensive equity research, primary equity placement, secondary trading and investment services in India.
(Source: Economic Times )
Showing posts with label lehman brothers. Show all posts
Showing posts with label lehman brothers. Show all posts
Wednesday, August 15, 2007
Tuesday, July 24, 2007
Lehman, Warburg, Carlyle eye 20% of Angel Broking
Leading private equity investors Lehman Brothers, Warburg Pincus and Carlyle Group are in talks with Angel Broking to buy a 20% stake in the Mumbai-based retail broking firm.
Angel Broking is the latest to join the PE bandwagon after leading industry players like Motilal Oswal Securities, Edelweiss Capital and India Infoline roped in equity partners in the past. Angel is planning to raise about Rs 200 crore through the placement, pegging the broking firm’s valuation at around Rs 1,000 crore.
The funds will be used to finance Angel’s proposed expansion of branches. It also wants to launch new products such as loan against shares and margin funding, said the source. A 100% retail player, Angel Broking has chalked out an expansion plan under which it has identified 250 new locations in addition to its existing branch network of 70. It offers a range of services like broking, research, investment advisory, wealth management, e-broking and commodities trading to about two lakh clients. “Angel Broking records daily business volumes of Rs 1,500 crore and enjoys about 3% market share,” claimed Mr Thakkar.
(Source: Economic Times)
Angel Broking is the latest to join the PE bandwagon after leading industry players like Motilal Oswal Securities, Edelweiss Capital and India Infoline roped in equity partners in the past. Angel is planning to raise about Rs 200 crore through the placement, pegging the broking firm’s valuation at around Rs 1,000 crore.
The funds will be used to finance Angel’s proposed expansion of branches. It also wants to launch new products such as loan against shares and margin funding, said the source. A 100% retail player, Angel Broking has chalked out an expansion plan under which it has identified 250 new locations in addition to its existing branch network of 70. It offers a range of services like broking, research, investment advisory, wealth management, e-broking and commodities trading to about two lakh clients. “Angel Broking records daily business volumes of Rs 1,500 crore and enjoys about 3% market share,” claimed Mr Thakkar.
(Source: Economic Times)
Monday, July 9, 2007
Lehman-led team to pick 5% in Edelweiss
A clutch of high-profile investors, led by Lehman Brothers and Holcim Group chairman Thomas Schmidheiny, are together buying a 5% stake in Edelweiss Capital—a leading financial services company in the country—in a pre-IPO placement of equity.
Edelweiss Capital is close to signing deals worth $50 million with the global investors, which value the Mumbai-based broking and investment banking group at about $1 billion, according to sources. The valuation is almost on a par with those of top investment bankers such as DSP Merrill Lynch and JM Financial, and is believed to be much higher than that of large domestic brokerage houses such as Motilal Oswal Securities and Sharekhan.
Mr Schmidheiny is buying a stake through his family investment firm. The three other investors include existing equity partner and New York-based hedge fund Galleon Partners, Middle East-based asset management company (AMC) Shuaa Capital, and Sequoia Capital. The Edelweiss board is meeting next week to finalise the deals, said sources.
The Indian broking and investment banking space has been witnessing an accelerated flow of foreign investments amid extremely bullish market conditions in the past 3-4 years. This has resulted in significant improvement in their valuations, prompting an increasing number of players to take the private equity route and/or go for an IPO.
(Source: Economic Times)
Edelweiss Capital is close to signing deals worth $50 million with the global investors, which value the Mumbai-based broking and investment banking group at about $1 billion, according to sources. The valuation is almost on a par with those of top investment bankers such as DSP Merrill Lynch and JM Financial, and is believed to be much higher than that of large domestic brokerage houses such as Motilal Oswal Securities and Sharekhan.
Mr Schmidheiny is buying a stake through his family investment firm. The three other investors include existing equity partner and New York-based hedge fund Galleon Partners, Middle East-based asset management company (AMC) Shuaa Capital, and Sequoia Capital. The Edelweiss board is meeting next week to finalise the deals, said sources.
The Indian broking and investment banking space has been witnessing an accelerated flow of foreign investments amid extremely bullish market conditions in the past 3-4 years. This has resulted in significant improvement in their valuations, prompting an increasing number of players to take the private equity route and/or go for an IPO.
(Source: Economic Times)
Wednesday, June 20, 2007
Lehman Brothers may be in talks to buy the institutional business of Brics Securities, reports CNBC-TV18.
Sources say that Lehman Brothers are in talks to buy the institutional business of Brics Securities and the deal is likely to be at a significant premium. The deal could be over Rs 200 crore.
The existing institutional team of Brics Securities will move to Lehman Brothers. However, there has not been any comments from Brics Securities or Lehman Brothers. Lehman Brothers has been looking at expanding its team in India and for further consolidation in the Indian working space.
CNBC-TV18 Disclaimer
This information is source-based and has not been provided to the stock-exchanges.
The existing institutional team of Brics Securities will move to Lehman Brothers. However, there has not been any comments from Brics Securities or Lehman Brothers. Lehman Brothers has been looking at expanding its team in India and for further consolidation in the Indian working space.
CNBC-TV18 Disclaimer
This information is source-based and has not been provided to the stock-exchanges.
Monday, June 4, 2007
Lehman, Spinnaker pick up stake in Spice Telecom
Lehman Brothers and Spinnaker Investments have picked up a small stake in Spice telecom for about $30 million, as a part of the pre-IPO placement. It is estimateed that these investors will pick up a fifth of the nearly 138 million shares that will be issued in the IPO at about Rs 45 per share.
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