[lbo-talk] Global banks turn towards Indian IT

Sujeet Bhatt sujeet.bhatt at gmail.com
Thu Jan 20 09:43:52 PST 2005


Global banks turn towards Indian IT The Economic Times, Thursday, January 20, 2005

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

-- He is now rising from affluence to poverty. -- Mark Twain



More information about the lbo-talk mailing list