Farallon Capital buys 33.3 percent in Indiabulls arm
Mumbai: Farallon Capital, a San Francisco-based private equity fund, and its affiliates have acquired 33.3 per cent stake in Indiabulls Credit Services Ltd, the recently formed subsidiary of the broking firm, Indiabulls Financial Services Ltd, for Rs87.6 crore. Farallon Capital is a multi-strategy investment fund with over $12 billion in assets under management, according to an Indiabulls release. Now with the new capital infusion from Farallon, Indiabulls Credit Services will have a capital base of over Rs 130 crore.

The Indiabulls subsidiary, which was set up in November, is focused on the consumer finance market and will offer personal loans under the `Easy Money' branding. The funding by Farallon - which already has an equity stake in the parent company - will help Indiabulls Credit Services expand its business.

It will use the fresh funding for expanding consumer finance business, a sector registering faster growth.
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TVS posts twenty one per cent jump in bike sales in Dec
New Delhi: TVS Motor Co., India's third-biggest motorcycle maker has posted a twenty one per cent rise in bike sales in December 2004. The auto major sold a total of 63,496 units in December over 52,464 units in the corresponding period of 2003.

Total two-wheeler sales of the company went up by 15 per cent at 96,886 units in the review month over 84,306 units in December 2003. Motorcycle sales during the third quarter ended December 31, 2004 posted a rise of 25.2 per cent at 2,03,245 units against 1,62,293 units during the year-ago period.

Total two-wheeler sales during the review period registered a rise of 17.6 per cent at 3,22,412 units over 2,74,094 units during the third quarter of last fiscal.

Exports of the Chennai-based company reached 4,303 units last month.
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