Motilal Oswal to sell 20 per cent stake to strategic investor
Kolkata: Motilal Oswal Securities is planning to offload 20-25 per cent of the promoters' stake to one or more strategic investors that may include private equity firms.
The broking outfit plans to utilise the proceeds to speed up its expansion activities.

Raamdeo Agrawal, MD, Motilal Oswal Securities (MOS), said, the sale proceeds will finance the company's expansion programme adequately.

MOS is also contemplating an IPO, and has lately seen a significant escalation in operations, due to a surging equity market and the fresh crop of investors who have been drawn towards it. The company is also aware that several broking entities, including a few extremely closely held ventures, have recently offloaded stakes to the public.
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Quantum AMC to launch its first scheme in India
Mumbai: Quantum Asset Management Company (QAMC) has received SEBI approval to act as the asset management company of the Quantum Mutual Fund.

It is now launching its first mutual fund scheme. Quantum AMC is promoted by Quantum Advisors.
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JP Morgan plans MF business in India
Mumbai: JP Morgan Asset Management plans to launch a mutual funds business in India. The business expected to be launched in the second half of 2006, will provide mutual funds to institutional and retail investors in India through third parties, including local banks and registered financial advisors.
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IndianOil to retire debt partially through ONGC, Sail stake sale
Kolkata: Indian Oil plans to retire part of its Rs10,000-crore short-term borrowings from domestic and international market through part sale of its stake in ONGC and GAIL (India).

The part stake sale is expected to mop up close to Rs3,700 crore. If the entire sale proceeds is used in retiring debt, IOC's interest burden would come down by Rs150-200 crore a year, beginning next fiscal.

Most of the short-term debt accrued during the current year when crude prices skyrocketed and oil marketing companies suffered because of mounting under-recoveries.

Company officials said the company's debt-equity ratio has gone up to 0.8. If the entire sale proceeds are used to retire debts, the ratio will come down to 0.67. Apart from reducing the interest burden in the immediate future, the exercise would also create greater opportunities for leveraging the debt market to finance our future investment plans they said.

The company may offload the stake in February, preferably before the Budget, to capitalise on the ongoing stock market boom.
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