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SSI
to acquire shares of Telephoto
Mumbai:
SSI plans to aqcuire over 3.5 lakh equity shares of Chennai-based
Telephoto Entertainments, for Rs15.25 per share from its
promoter, Suresh Chandra Menon the company informed the
Bombay Stock Exchange.
The
board of directors of the company at its meeting held
on November 30, approved the subscription for the proposed
preferential offer of shares of 30 lakh equity shares
and 27 lakh convertible warrants of Telephoto Entertainments
at the rate of Rs15.25.
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IVRCL
to issue FCCBs
Mumbai:
IVRCL Infrastructures and Projects is issuing FCCBs
and to raise US$65mn through. The zero coupon five year
bonds are convertible into equity shares at a premium
of 55 per cent to the NSE closing price of Rs754.95 as
on November 30, 2005, the company informed the BSE.
Citigroup
and ABN Amro Rothschild acted as the joint bookrunners
to the transaction, it said.
IVRCL
vice-chairman and managing director, E Sudhir Reddy said,
"The proceeds from this offering would be used for
capital expenditure and investment in build, own, operate
and transfer (BOOT) or build, operate and transfer (BOT)
projects."
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Jagan
Prakashan files for IPO
Mumbai: Jagran Prakashan, that publishes Dainik
Jagran, has filed draft red herring prospectus with the
Securities and Exchange Board of India for a public issue
of up to 1.14 crore shares of Rs10 each. The issue price
will be determined through a 100 per cent book-built process.
The
issue consists of a fresh issue of one crore shares and
a green-shoe option of up to 15 lakh shares.
The
public issue will constitute 20 per cent of the fully
diluted post-issue equity share capital of the company
assuming that the green-shoe option is not exercised and
22.33 per cent assuming that the option is exercised in
full.
The
company has appointed DSP Merrill Lynch and ICICI Securities
as the book running lead managers to the public issue.
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Educomp
plans IPO
New
Delhi: Online education company Educomp Solutions
is entering the capital markets to raise Rs50 crore through
an initial public offering to fund its expansion programme
in the US.
The
IPO will hit the market by December 5, a company statement
said.
Educomp
has already sought approval from SEBI for its IPO to offload
25 per cent of its equity through the book building process.
It has a turnover of Rs32 crore and plans to build on
its existing initiatives in the area of providing digital
content for schools as well as online tutoring.
The
online content spend in the US market is estimated to
be over US$10.2bn, the tutoring spend is over $4 billion,
while assessment spend is at US$2bn, the company said.
The
Delhi-based Educomp employs 900 professionals and has
a presence in 27 locations across the country and has
a fully-owned subsidiary in the US.
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Andhra
Bank files red herring prospectus with SEBI
Hyderabad:
Andhra Bank has filed the draft red herring prospectus
with the Securities and Exchange Board of India for its
follow-on public issue of 8.5-crore equity shares of Rs10
each at a premium to be decided through book build process.
The
bank said it has decided to reserve 85 lakh equity shares
for allotment to its employees and balance 7.65 crore
equity shares to public.
The
bank will allot up to 50 per cent to qualified institutional
buyers inclusive of the five per cent reservation for
allotment to mutual funds, not less than 15 per cent to
non-institutional investors and not less than 35 per cent
to the retail investors.
After
the issue, the equity holding of Government in the bank
would come down to 51.55 per cent from the existing level
of 62.5 per cent, the release said.
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Merrill
Lynch increases stake in Infotech
Hyderabad: Merrill Lynch Capital Market Espana
has acquired 17,000 shares aggregating to 0.11 per cent
of the total paid-up capital of Infotech Enterprises on
November 28 from the secondary market.
After
this, the shareholding of Merrill Lynch Capital Market
Espana has gone up to 7.6 lakh shares aggregating to 5.04
per cent of the total paid-up capital of Infotech Enterprises.
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ICICI
Bank issue nets 55 per cent subscription on first day
Mumbai: ICICI Bank's domestic offering of Rs5,750
crore was subscribed to the extent of 54.73 per cent at
the end of the first day of the issue.
The
bank had a price band of Rs505-545 a share for its public
issue of shares through the book-building route.
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Aarti
Industries raise funds from overseas markets
Mumbai: Aarti Industries, which manufactures bulk
drugs, active pharmaceutical ingredients and specialty
chemicals plans to raise US$25mn through issue of securities
in the overseas markets.
The
shareholders of the company have approved the issue of
FCCBs, GDRs or other securities for up to US$25mn, the
company informed the Bombay Stock Exchange.
The
company will also split equity shares of the company in
the ratio 1:2 , that is, each existing equity share of
Rs10 each will be split into two equity shares of Rs5
each, it said.
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HSBC
Global acquires 9.76 percent stake in Eveready
Mumbai:
Eveready Industries India said HSBC Global Investment
Funds has acquired 9.76 per cent stake in the company
by buying 70 lakh shares.
The
mode of acquisition is through international GDR offering,
it said.
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