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Apollo Hospitals GDRs raise $65mn
New Delhi: Apollo Hospitals Enterprise Ltd said on Friday that it has raised $65.1 million through the issue of 8.35 million Global Depository Receipts (GDRs). The company proposes to list the GDRs on the Luxembourg Stock Exchange.

The GDR was priced at $7.80 (Rs340) against a closing price of Rs347.95 per share on the BSE on July 7. The company has informed the Bombay Stock Exchange that each GDR represents one underlying share of the company.

The GDRs were placed through a book building exercise with Citigroup and Kotak acting as book runners and joint lead managers to the transaction, it said.

According to the company's statement the proceeds of the issue will be used for expansion activities, working capital and general corporate purposes.
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Deccan Chronicle board to consider issue of overseas bonds
New Delhi: Deccan Chronicle Holdings Ltd has informed the Bombay Stock Exchange on Friday that it would consider an issue of Foreign Currency Convertible Bonds (FCCBs) or Global Depository Receipts (GDRs) on July 27.

According to the company's statement to the stock exchange its board of directors will meet on July 27 to consider an issue of FCCBs, ADRs or GDRs on private placement basis. The issuance will be up to 9 per cent of the authorised share capital of the company, subject to conversion at the end of five years.

This decision is based on an order issued by the Ministry of Finance, on July 5, 2005, which allows the Indian newspaper industry to issue foreign currency convertible bonds, it said.
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Kinetic Engg. to consider rights issue
Mumbai: Kinetic Engineering Ltd has informed the BSE that a meeting of the board of directors will be held on July 11 to consider the proposal for an issue of shares on rights basis.
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