Anil Ambani led Reliance Communications (RCom), India’s second biggest wireless operator, is consolidating its global business under the single umbrella brand of ‘Reliance Globalcom.’

Punit Garg, president, Reliance Globalcom stated that Reliance Globalcom, a division of RCom, will be headquartered in London, and will come up with an initial public offer (IPO) shortly.

“As this company is outside India and all its revenues are in foreign currencies, it is but natural that it will be listed on an exchange there, after evaluating where we can get the best possible investors,” said Mr. Punit Garg.

The world's biggest private equity firm, Blackstone Group is all set to invest around Rs 240 crore to purchase 10.38% stake in Mumbai-based logistics firm Allcargo Global.

Besides, the US-based company has also expressed its intention to buy another 4.61% of the enhanced paid up equity from the open market.

Allcargo will issue 1,000 equity shares and 1,081,081 fully and compulsorily convertible debentures (FCCD), convertible into an equal number of equity shares, at Rs 934 each to Blackstone.

Micro Technologies India Ltd has entered into a strategic agreement with I-systems to market Micro Products and its licenses to Sri Lanka.

Nicosia, Feb 16: Germany’s RWE Gas Midstream recently became the sixth strategic partner

London, Feb 14: A French engineer-cum-inventor, who has received the backing of India's TATA

Hyderabad-based, National Mineral Development Corporation (NMDC) anticipates that international price for iron ore may increase by 40-50% by April this year.