Intel Capital To Buy 2% In MCX - Foreign institutional investor Fidelity, which holds around 7% stake in commodity bourse MCX, is selling 2% in the exchange to Intel Capital in order to comply with government's restriction of capping a single foreign investor’s shareholding to 5%. The deadline for foreign investors to bring down their stakes in commodity bourses is March 31, 2010. Fidelity recently divested 2% to Passport India. (Economic Times)

Suzuki Ups Stake in Maruti - Japan's Suzuki Motor Corp has raised its stake in Indian unit Maruti Suzuki to 55% by buying a 0.8% stake through secondary market purchases. Suzuki could increase its stake further leading to speculation of a plan to take full control of the country’s top carmaker. Indian rules allow companies to make creeping acquisitions of up to 5% a year and any increase beyond 55% will require Suzuki to make an open offer for another 20%. (ET)

Future To Sell Mobile Retail JV To Essar - Kishore Biyani’s Future Group and its UAE-based partner Axiom Telecom are close to selling their mobile handset retail JV Future Axiom to the Essar Group’s The MobileStore. The deal will be done by Future-Axiom in exchange for a minority stake in the combined entity where the Essar group will have management and operational control. (ET)

Essar Looks For $8 Bn London Listing - The $15-billion Essar Group is reported to have begun preparations for an $8-billion listing on the London Stock Exchange of a holding company which will have their refinery, power, exploration and production businesses. This comes after Essar's acquisition of US-based Trinity Coal for $600 million. (ET)

Zee To Buy PE-backed 9X - Zee Entertainment Enterprises is set to acquire 9X, the Hindi general entertainment channel belonging to the loss-making INX Media Pvt Ltd in a Rs 65 crore deal. For Zee, there could be implied tax benefits and an additional channel licence in times of tight government approvals. (DNA)

Blackstone To Buy 12% In Power Plant - The Blackstone Group is likely to acquire a 12% stake in Monnet Ispat’s greenfield power plant in Orissa for Rs 275 crore. To be set up by Monnet Ispat’s subsidiary, Monnet Power, the 1,050 mw power plant is expected to cost Rs 5,092 crore to be funded through a mix of equity capital and debt. (DNA)

NMDC In A $230 mn Mine Bid - State-run miner NMDC, along with two other companies, has submitted a $230-million non-binding bid to buy 70% stake in an Australian mine owned by Perth-based Atlas Iron. The consortium also consists of Saudi Arabia’s ABS Consulting and Australia-based Boulder Steel. (Business Standard)

LIC Eyes Banking Licence - State-owned Life Insurance Corporation of India (LIC) is likely to seek a licence to float a bank when the Reserve Bank of India (RBI) allows more players. The insurer is keen to run a bank to manage the large premium collection and claim settlement work. This year the public sector insurer is expected to collect over Rs 176,000 crore as premium income. (BS)

ARC Firm Ropes in Investors - Invent Asset Securitisation and Reconstruction Company, led by former NCDEX MD & CEO PH Ravikumar, has roped in seven institutional investors. Ravikumar set up Invent ARC with chartered accountant, Pankaj Gupta, in late 2008. The seven investors have been sold an aggregate 69.65%. The investors include two banks, a non-banking financial services company, two international funds and one India headquartered private equity fund. (Financial Chronicle)