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: Sudip leaves ADAG for Modi's Spice Group

Sudip Bandyopadhyay, a financial sector expert, has joined BK Modi-led Spice Group after quitting Anil Ambani group firm Reliance Money that he helped set up and nurture into the country's largest brokerage firm. The NRI industrialist-led group has roped in Reliance Money's former chief to steer its ambitiuous plans for expanding into the fast-growing financial services businesses, including insurance, mutual funds and brokerages. With an aim to establish itself as a prominent player, Spice Group is mulling over a string of acquisitions as also greenfield business initiatives to make itself present in the entire spectrum of financial services market. “We want to be in the entire financial services market--from insurance, asset management, brokerage, distribution and micro-finance to remittance and money transfer,” Bandyopadhyay said.

Fedders wins project

Electronic products maker Fedders Lloyd Corp on Friday said it has bagged an order worth $10.88 million (about Rs 52 crore) from Ethiopian Electric Power Corp towards the supply of power distribution materials.

Advanta fund-raising

Seed marketing company Advanta India on Friday it will raise Rs 750 crore by issuing shares. In the extra-ordinary general meeting, the company approved issuance of shares worth Rs 750 crore on rights or preferential basis or by private placement with qualified institutional buyers, Advanta India said .

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