> A few days before I posted the previous blog on Germany Offshoring, DB became the largest non-promoter holder in one of the Top-5 Indian IT companies, HCL Technologies.

Could this be a harbinger to Germany for more strategic investments in
Indian IT and BPO industry?

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Deutsche Bank forays into tech via HCL stake

NEW DELHI: You could call it the global bankers entry into the Indian
tech sector. Deutsche Bank is now the second-largest shareholder in
HCL Technologies .

Interestingly, this is Deutsche Bank’s first investment in a tech
company outside Germany.

Indian tech bigwigs have hardly ever attracted investments from global
banks and even the exceptions like Citibank have not invested directly
but through VC arm.

Confirming that Deutsche Bank’s investments in tech sector have been
confined to Germany till now, Klaus Thoma of Deutsche Bank said, “We
have a wonderful relationship with HCL and want to grow together with
it. It started with us spinning the IT department into a separate
outfit and then a joint venture and finally completely outsourced to
HCL.”

Shiv Nadar holds about 70 % in HCL Technologies and Deutsche Bank has
about 6.1 %.