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April 17, 2006

Kotak after Goldman Sachs

Business Today has a Cover Story on the Kotak Mahindra Group, which recently bought out Goldman Sachs from their investment banking and broking joint ventures.
(Vice Chairman & Managing Director Uday Kotak) won't say it, but the message in the buyout of Goldman Sachs is pretty clear: Thanks for the help guys, but now it's best for Kotak Mahindra to be on its own (although there are some market watchers who insist that it's Goldman that wanted to be on its own in India). Compared to the global Goliaths-Goldman, Morgan Stanley and Merrill Lynch-Kotak is a relative David on Dalal Street. But Kotak is aiming his sling and his stone far and wide, and not just at domestic targets. "India, Indian institutions and Indians can have a shot at the world today. These opportunities were not there 5-10 years ago. This is India's second tryst with destiny," he told BT last fortnight.

Arun Natarajan is the Founder of Venture Intelligence India, which tracks venture capital activity in India and Indian-founded companies worldwide. View sample issues of Venture Intelligence India newsletters and reports.