US-64 redemptions to cost Rs 10,000 crore
New Delhi: Government will have to bear a cost of Rs 10,000 crore to meet the redemption pressure of the Unit Trust of India's flagship US-64 scheme between now and May 2003.

The Net Asset Value (NAV) of US-64 was Rs 6 per unit at present, and the government was committed to paying investors Rs 12 in May, 2003, following incremental increases of 10 paise every month.

The government is committed to paying the difference between the NAV and the administered price till May 2003. It has also agreed to redeem US-64 units at par value in May, 2003 to all investor holdings over 5,000 units.
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CRISIL downgrades Bharti's NCD
Mumbai: The Credit Rating Information Services of India Ltd (CRISIL) has downgraded Bharti Cellular Ltd's Rs 175-crore non-convertible debenture from high safety to adequate safety.
The rating downgrade reflects the strategic restructuring of cellular operations of the Bharti Group which has heightened BCL's business and financial risk, CRISIL said in a release in Mumbai.
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Bharti reserves 25% of IPO for retail investors
New Delhi: Bharti group has reserved 25 per cent of the proposed 18.5 crore shares initial public offer (IPO) for retail investors while giving 60 per cent to institutional investors and the balance 15 per cent for non-institutional and high networth individuals.

The IPO of Bharti Televentures, the service arm of Bharti group, will be available in over 20 cities through 100 per cent book building route.
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I-flex to offload 10% through initial float
Mumbai: I-flex Solutions has finalised plans to come out with an initial public offering (IPO) for 10 per cent of its equity capital. The float will comprise an issue of fresh equity up to a minimum of 2.5 per cent of the capital and shares offered by existing shareholders.

The issue is likely to hit the market before the end of the financial year and will be lead managed by JM Morgan Stanley and DSP Merrill Lynch. I-flex Solutions has an equity base of Rs 16.6 crore, comprising Rs 5 paid-up equity shares.
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