Three major private equity firms - Carlyle, Kohlberg Kravis & Roberts, and Warburg Pincus - are in discussions to acquire a 15-18% stake in Hero Honda Motors by purchasing a majority stake in a special purpose vehicle. India's largest fuel retailer IOC is considering raising petrol prices by 35 paise per liter as crude oil prices have increased. Tata Motors will ask owners of their Nano vehicles to bring their cars back to have additional safety devices installed free of cost in order to prevent fires. Telecom Minister A Raja resigned after meeting with the Prime Minister, citing advice from his party leader to do so in order to avoid embarrassment to the government and allow Parliament to function normally. The

1. By :
Shreya Gaba

2. Private Equity Stars may
team up
 Three leading US based private equity firms- Carlyle,
Kohlberg Kravis & Roberts and Warburg Pincus are
likely to acquire an effective stake of 15-18% in
“HERO HONDA Motors”
 Discussions with three PE firms to sell 60-70% stake
in a special purpose vehicle to fund the acquisition of
Honda’s 26% shareholding and it is likely to be
completed in two phases.

3. IOC plans to raise petrol
prices
 India’s biggest fuel retailer IOC is considering raising
petrol prices by 35 paise per litre this week as the
crude oil prices have gone up.
 If government increases the prices this will be the
third hike in petrol prices since government freed its
pricing on June 26
 IOC decision is expected to be followed by other
state run fuel retailers- Bharat Petroleum Corp and
Hindustan Petroleum Corp

4. Tatas to call back Nanos
to fit safety add-ons
 Tata motors said they would ask Nano customers to
bring back their cars to add safety devices free of
cost to prevent tge vehicles from catching fire.
 Company officials said these are the additional
protection being provided, else Nano is quite safe.

5. Telcom Minister A Raja
resigns
 Under fire over his role in 2G spectrum allocation, telecom
minister A Raja has decided to step down. He will submit his
resignation to the Prime Minister. Earlier, the Congress wanted
the DMK to take the first step in this direction and ask Raja to
quit. But, according to DMK sources, the party made it clear
that it will not act in haste.
 While Congress is keen to see an end to the Spectrum
controversy and normal functioning of Parliament, DMK has
contended that it will await tabling of the CAG report and the
outcome of the Supreme Court hearing tomorrow on the issue.
 After meeting the prime minister this evening, Telecom
Minister A Raja confirmed that he had resigned.
"In order to avoid embarrassment to the Government and
maintain peace and harmony in Parliament, my leader (DMK
chief M Karunanidhi) has advised me to resign," Raja told

6. Orissa to move SC
 Orissa government is likely to challenge the Union
ministry of environment & forest’s decision to deny
permission to state owned Orissa Mining
Corporation (OMC) to mine bauxite in the Nyamgiri
hills
 OMC had entered into a JV with Vedanta Aluminum
for mining to deed VAL’s refinery at Nyamgiri. State
government had committed to supply 150 million
tons of bauxite to VAL.