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Digest: MagicBricks, Karbonn Mobiles, Piramal-Voda

Times Business Solutions’ property listing portal MagicBricks.com has added Luxury section to its website. The website will list premium high end luxury properties to its users.

Currently the luxury portal lists properties from Delhi NRC NCR, Mumbai and Bangalore. At the time of writing this article there were no listings in Mumbai city. The company claims that the company curates these premium properties for listings. Apart from listings, the site also features luxury videos and luxury article.


Mobile handset maker Karbonn Mobiles is planning to raise funds of Rs 250-400 crore by diluting about 10-15% stake for a valuation of Rs 5000 to 6000 crore, reports Business Standard. The company, which is a joint venture between Delhi-based Jaina Group and Bangalore-based UTL Group, had planned to raise funds of Rs 500 crore in 2011 by diluting minority stake but the deal didn’t go through.

The report also states that Karbonn Mobiles currently sells 1 million mobile handsets in India and has a revenue of about Rs 2000 crore.


Piramal Healthcare plans to offload its 11 per cent stake in Vodafone India, reports The Economic Times. The company had picked up 5.5% stake in the company for Rs 2,893 crore in August 2011, and another 5.5% for Rs 3,007 crore in February 2012. The company states that it expects 17-20 per cent return in around 18 months period for its investment.

*Disclosure: Times Internet is an advertiser with MediaNama


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