Private equity firm DE Shaw’s decision (‘We will continue to support DLF’, April 18), Unitech’s ability to get funding, Tech Mahindra’s decision to buy Satyam … all of these show that the investment momentum in the economy is continuing uninterrupted. Of course, bank funding has dried up, and low-cost funds are not available from abroad.
But there is still enough private equity money around. The problem is that Indian promoters are not willing to accept lower valuations since they’ve got used to the unrealistic valuations of the past.
Sanjay Bhave, New Delhi
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