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Pantaloon rights issue to raise
Rs.224 crore
Mumbai:
Pantaloon Retail India Ltd, owners of the Big Bazaar brand
of retail stores, has informed the BSE that it is planning
to raise Rs224 crore from a rights issue, by way of partly
funding its plan to double its shopping area. The company
will sell one share for every five held at Rs500 per share,
towards this end.
According
to the company, it will spend Rs400 crore in the next
two years to more than double the total area of its retail
stores to 5.5 million square feet from 2.1 million square
feet.
Retail
store outfits are expecting rising disposable incomes
to generate demand for branded products. Pantaloon's sales
more than doubled to Rs130 crore in July from Rs64.13
crore in the same month last year, the company said.
Value
retailing, which comprises Big Bazaar, Food Bazaar and
Fashion Station stores, more than doubled to Rs84.92 crore
from Rs39.2 crore. Lifestyle retailing, which comprises
Pantaloons and Central Mall stores, grew 81 per cent to
Rs45.1 crore. The company currently has 21 Big Bazaar
stores, 37 Food Bazaars, 12 Pantaloons stores, three Central
Malls and one Fashion Station store in India.
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Mid-Day
Multimedia to allot preferential shares to T Rowe Price
Mumbai: Mid-Day Multimedia Ltd has informed the
stock exchanges that it would issue 21.90 lakh shares
on preferential basis to T Rowe Price International to
raise Rs17.95 crore.
The
board of directors has decided to issue and allot 21.90
lakh fully paid-up equity shares of Rs10 each of the company
for a price of Rs82 a share, aggregating to Rs17.95 crore
to T Rowe Price International, the company informed the
BSE.
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Tata
Trustee Co. purchases shares of Murudeshwar Ceramics
Mumbai: Tata Trustee Co Pvt Ltd has bought 108,000
shares of Murudeshwar Ceramics at an average price of
Rs101.26 on BSE on 24th August 2005. It also bought 92,000
shares of the Company on the NSE at an average price of
Rs101.33.
The
stock touched 52-week high of Rs106.50 before ending the
day at Rs104.55 on the BSE. The total traded quantity
on the BSE was 308,712. At the NSE, the stock touched
a 52-week high of Rs106.60 before ending the day at Rs104.45
on NSE. The stock was up by 9.77% from the previous day's
close. Total traded quantity on the NSE was 592,500.
Murudeshwar
Ceramics is in the business of ceramic tiles. The company
posted a profit after tax of Rs54.8 million for the quarter
ended June 30, 2005 as compared to Rs79.12 million for
the quarter ended March 31, 2005.
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Bannari
Amman spinning public issue to fund expansion
Mumbai: Bannari Amman Spinning Mills, part of the
Coimbatore-based Bannari Amman group is entering the capital
market with a public issue of 70 lakh equity shares of
Rs10 face value per share. The issue, meant to fund expansion
plans, will be through the book-building process. The
book-running lead managers to the issue are IL&FS
Investsmart and ICICI Securities and the registrar is
Intime Spectrum Registry.
The
company, involved with cotton yarn spinning and weaving,
has an annual turnover of Rs1,200 crore.
According
to a press release, the company wants to expand production
capacity to take advantage of the post-quota regime and
improve margins through value-addition. It plans to expand
spinning and weaving capacity, and set up facilities for
processing and manufacturing garments and home textiles.
It is also increasing capacity for captive wind power
generation.
The
company's net profit showed compounded annual growth of
47.1 per cent to touch Rs11.53 crore in 2004-05 from Rs3.62
crore in 2001-02. During the same period, total income
increased to Rs75.62 crore from Rs60.47 crore at a CAGR
of 7.7 per cent.
Exports of yarn accounted for 24 per cent of turnover
in 2004-05.
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