10 percent IPO norm for all companies
New Delhi—In a welcome development, the government has lowered the minimum listing requirement for all corporates from 25 per cent to10 percent.
However, the company must have an offer size of 20 lakh securities with a minimum offer value of Rs 100 crore according to a notification to be issued shortly by the finance ministry.
At present, information technology and other knowledge-based companies already have a minimum-listing requirement at 10 per cent.
The Securities and Exchange Board of India had earlier proposed that the relaxation be offered on the condition that the minimum offer size be Rs 250 crore. The decision of the Sebi primary market advisory committee was in line with market demands that corporates should not be forced to offload 25 per cent equity at one go.

The notification is meant to spur the currently dormant stock markets where the number of IPOs has sharply plummeted after the stock scam in March.
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Reliance, HLL major contributors to fall in Sensex
Mumbai—Reliance group companies — Reliance Industries and Reliance Petroleum and Hindustan Lever Ltd led the 285-point fall in the 30-share Sensex in a consistent downtrend from May 30 to June 6.
The three market heavyweights collectively contributed more than 50 per cent to the total fall during the period.

RIL topped the list with contribution of 55 points, followed by HLL (49 points) and RPL (42 points).
Institutional majors have been selling counters heavily in the past couple of weeks. Both foreign institutional investors as well as domestic institutions have been selling actively in the market, analysts said.
In addition to this, operators have been busy bringing down their positions on the bourses with the Sebi deadline for the ban on badla system (July 2) approaching closer and closer.

Infosys Technologies and Zee Telefilms were the next major contributors to the decline of the sensex. While the former contributed 40 points decline, the latter added 13 points to the Sensex fall.
In absolute terms, RIL emerged as the biggest loser with Rs 4,036 crore fall in market capitalisation, followed by HLL (Rs 3,587 crore), RPL (Rs 3,147 crore) and Infosys Technologies (Rs 2,962 crore).
The aggregate market cap of the 30 Sensex scrips has eroded by Rs 21,000 crore or 7.5 per cent during the period under the study.
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Satyam to raise another $20 million after ADs
Hyderabad—After mopping up over $160 million from its recent ADS offering, Satyam Computers has now decided to seek shareholder approval at its forthcoming annual general meeting on June 29. It plans to raise another $20 million in the current financial year either through the private placement route or a preferential issue to strategic partners, FIIs, mutual funds at a price not less than the one determined in accordance with Sebi guidelines.
The instrument for raising the funds is yet to be decided. It might be through equity shares or fully or partly convertible warrants, a Satyam official said.
Satyam’s main subsidiaries are the Chennai-based Satyam Infoway and US-based Vision Compass Inc.
Meanwhile; Satyam’s brand valuation has increased by about 50 per cent for the year ended March 2001. The brand was estimated at Rs 2274.53 crore, on the basis of average weighted profits for the past three years against Rs 1516.72 crore in the previous year.
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