NEW DELHI: You could call it the global bankers entry into the Indian tech sector. Deutsche Bank is now the second-largest shareholder in HCL Technologies <http://economictimes.indiatimes.com/articleshow/984779.cms> (www.hcltech.com).
When HCL bought out Deutsche Bank’s stake in their joint venture in a stock deal, what went unnoticed was the fact that Deutsche Bank’s shareholding in the company was second only to promoter Shiv Nadar.
Interestingly, this is Deutsche Bank’s first investment in a tech company <http://economictimes.indiatimes.com/articleshow/995817.cms> outside Germany.
Indian tech bigwigs have hardly ever attracted investments from global banks and even the exceptions like Citibank have not invested directly but through a VC arm.
Confirming that Deutsche Bank’s investments in the tech sector have been confined to Germany till now, Klaus Thoma of Deutsche Bank said, “We have a wonderful relationship with HCL and want to grow together with it. It started with us spinning the IT department into a separate outfit and then a joint venture <http://economictimes.indiatimes.com/articleshow/981739.cms> and finally completely outsourced to HCL.’’
http://economictimes.indiatimes.com/articleshow/msid-995963,curpg-1.cms
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