KKR may exit Aricent; Clix Capital eyes stake in Catholic Syrian Bank:

Private equity giant KKR is in talks with prospective buyers to sell its California-based design and engineering company Aricent Inc. for $1.5 billion, said media reports.

According to The Economic Times, KKR has initiated talks with private equity firm Silver Lake Partners and global IT major Accenture.

An unnamed person told Mint that though KKR was engaged in talks with other private equity investors and strategic buyers, the chances are high for the global strategic investors.

The PE firm, which has a 79% stake in Aricent, had given the mandate to investment bank JP Morgan to scout for a buyer.

Aricent is a successor to Hughes Software Systems, which was founded in 1991 as a research and development subsidiary of DIRECTV-owned Hughes Networks Systems.

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KKR may exit Aricent; Clix Capital eyes stake in Catholic Syrian Bank

Catholic Syrian Bank moving to a more stable and sustainable earnings base:

Catholic Syrian Bank — one of the oldest private sector banks in the country — has not fully lived up to its heritage and exploited the business opportunities that were available even as newer entrants have marched past and left it behind during the past decade. There has been churn at the top and a new chief executive at the helm every few years has affected the bank’s plans to an extent. The current incumbent CVR Rajendran, who has been in office during the last year, has focussed on cleaning up the balance sheet and putting in place a new structure to place the bank in a different growth trajectory. The bank is placing emphasis on doing business through “clearly defined verticals and clearly defined roles”,

he said in an interaction with BusinessLine. Excerpts:

The bank seemed to have done well last fiscal when it made a profit after posting a huge loss in FY16. But appears to have slid again, reporting some losses in H1 of this fiscal. Why?

The net profit of ₹1.55 crore of FY17 was driven by treasury profit of ₹196 crore. It may be noted that if we exclude the treasury profit (which was due to the favourable yield movements in FY17), there was an operating loss of ₹44 crore. But if you analyse H1 figures, we have made ₹43 crore of operating profit, of which, the contribution of treasury was only ₹2 crore. Thus, now we are fast moving to a more stable and sustainable earnings base.

For more details, kindly click on the following link:

http://www.thehindubusinessline.com/money-and-banking/catholic-syrian-bank-moving-to-a-more-stable-and-sustainable-earnings-base/article9967581.ece

MSE raises Rs 209 crore, ties up additional funding of Rs 95 crore:

Metropolitan Stock Exchange of India (MSE) has announced that it has raised Rs 209 crore in just over a span of one year and has tied up further funding of Rs 95 crore with few large investors and merchant bankers.

With this, the liquid net worth of its clearing corporation subsidiary Metropolitan Clearing Corporation will be Rs 300 crore, meeting the regulator’s securities contracts requirements, according to the statement.

Last July the exchange had raised Rs 97 crore ..

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https://economictimes.indiatimes.com/markets/stocks/news/mse-raises-rs-209-crore-ties-up-additional-funding-of-rs-95-crore/articleshow/61436797.cms