Mobile Magic’s outlets in City

Mobile Magic,  announced in Mumbai on Friday its expansion plans for South India. The company announced the opening of four stores in Bangalore.

It also announced that it plans to set up 20 stores in Bangalore in the next six months and target the booming Rs 10,000 crore mobile phone market in the southern region. Mobile Magic plans to set up 250 stores in southern India by 2009 and 1000 stores across the country by 2010.

Sequoia Capital  raises $ 300 mn

Sequoia Capital India, on Friday, announced the closure of its   third venture capital fund for India after raising approximately $300 million.

This is the largest venture capital fund ever raised for India, as opposed to private equity or late stage fund, and makes it India’s largest and most active backer of early stage companies. This fund will focus on investing in high growth early stage companies across sectors.

The firm currently manages over $1 billion in dedicated capital for India across three venture capital funds and a growth equity fund. Sequoia Capital India has invested in over 35 companies over past seven years.

D’Mart to set up unit in India

D’Mart Exclusif plans to set up a manufacturing unit in India in collaboration with the Italian design house Linea Argenti to make high-end decorative and art pieces in silverware, said Chairman, Dolphin Group of Companies that owns D’Mart Exclusif, K V Rao.

The manufacturing unit will be set up in Gurgaon at a cost of $ 5 million and is expected to start production by end of 2008.

Nestle India’s  new product

Nestle India, on Friday, announced the launch of new Nestle Milkmaid Funshake, a nutritious and healthy milk beverage based on the popular milkshake concept.

It is made from high quality toned milk and is available in 3 variants namely Mango, Banana and Chocolate, said the company. Positioned as “Yum milk, Fun milk”, the beverage is an eat option for healthy drinking - anytime, anywhere, for every one.

Subir Raha joins Hinduja group

Subir Raha has joined Hinduja Group India Ltd (HGIL) as Executive Vice Chairman. He will also take over as Chairman, Hinduja National Power Company Ltd (HNPCL), this was announced in Mumbai on Friday. Mr Raha had served, for five years effective from 2001, as Chairman & MD of ONGC, and Chairman of ONGC group companies.

Satyam names new top leaders

Satyam Computer Services on Friday announced that four of their senior executives have taken on different leadership responsibilities in strategic areas of the organisation.

Effective immediately, S V Krishnan will lead HR; Pavan Kumar is Chief Technology Officer; Vijay Prasad is Chief Information Officer & Head of Soft Infra group and Hari T (former HR head) will lead Global Marketing and Communications, the company said.