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Thursday, April 24, 2008

IDFC arm to raise $700m
Indian infrastructure specialist IDFC Private Equity is raising a new $700 million fund to buy stakes in firms expected to thrive as the country modernises its rag-tag power and transport networks.

IDFC's MD for investment, Satish Mandhana, said fund would close in the next two to three weeks, with 85% of money from abroad. Foreign investors are increasingly drawn to Indian infrastructure, as government estimates about $500 billion will be needed to build new roads, ports, airports and power plants by 2012 to keep pace with a fast growing economy.

Around 30% of that spending is expected to come from private sector, with rest split between federal and state governments.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Wednesday, Jun 11
18:00 Consumer Price Index (YoY) 3 2.4% 2.5% 2.3%
18:00 Consumer Price Index n.s.a (MoM) 1 321.465 320.795
18:00 Consumer Price Index ex Food & Energy (YoY) 3 2.8% 2.9% 2.8%
18:00 Consumer Price Index ex Food & Energy (MoM) 3 0.1% 0.3% 0.2%
18:00 Building Permits (MoM) 1 -6.6% 2.2% -5.3% Revised from -4.1%
20:00 EIA Crude Oil Stocks Change 1 0.100M -4.304M
22:30 10-Year Note Auction 1 4.342%
23:30 Monthly Budget Statement 2 $-325B $258B
Thursday, Jun 12
04:15 Electronic Card Retail Sales (YoY) 1 -0.3% -0.3%
04:15 Electronic Card Retail Sales (MoM) 1 0%
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