Viceroy Hotels to issue warrants on preferential basis
Mumbai: Viceroy Hotels is planning to issue 78.28 lakh convertible warrants on a preferential basis. The shareholders have approved the issuance of the warrants to the promoters and other strategic investors, at the company's AGM held on 20th Dec. The warrants are convertible into equivalent number of equity shares of Rs10 each at a premium of Rs77.50 per share.

The meeting also resolved to issue 81.71 lakh equity shares at a premium of Rs77.50 per share of Rs10 each, to the promoters and other strategic investors, it said. The decision to increase the borrowing powers of the company to Rs1,000 crore from the existing Rs500 crore was also approved by the shareholders.
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MRF gives 140 per cent dividend
Mumbai: MRF has declared a 140 per cent final dividend for 2004-05. The board at its meeting recommended the final dividend on the paid-up capital as on September 30, 2005, the tyre manufacturing company informed the BSE.

It has already declared and paid two interim dividends of 30 per cent each, thus amounting to a total dividend of 200 per cent for the year.
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BSE signs joint statement with Italian bank
Mumbai: The Bombay Stock Exchange (BSE) has signed a joint statement with Italian banking group Banco Popolare Di Verona E Novara (BPVN) to undertake knowledge management initiatives with the bank.

The initiative focuses on pursuing knowledge management practices that will strengthen and harness the understanding about the markets in respective countries, BSE said in a release here.

In this regard, both the organisations will explore conducting seminars, conferences, workshop and training programmes that will benefit both the institutions as well as the financial systems, it added.
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Holding by FIIs to increase in KCP Sugars
Mumbai: KCP Sugar and Industries Corporation will increase the limit of investment by Foreign Institutional Investors to 49 per cent from the existing 29 per cent.

The board at its recently held meeting resolved to increase the FII limit and also split the equity shares of the company in 1:10 ratio, that is equity shares of face value Rs10 per share would be split into ten shares of Re1, the sugar company informed the Bombay Stock Exchange.
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Punj Llyod issue oversubscribed 38.99 times
Mumbai: The recently launched IPO of Punj Llyod, which offered a Rs10 share at Rs700, has been oversubscribed by 38.99 times.
The issue, which opened on December 13 and closed on December 16, attracted 3,64,918 applications.

Punj LIoyd offered 9.17 million equity shares, comprising 8.35 million fresh shares and 0.81 million existing shares. The issue represents 17.57 per cent of the fully post-issue capital of the company.

ICICI securities, Citigroup Global Market India, DSP Merrill Lynch and Kotak Mahindra Capital were the lead managers for the issue.
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Bajaj Allianz launches single premium ULIP
New Delhi: Bajaj Allianz Life has launched a single premium ULIP that promises its customers 105 per cent allocation, which means if the premium is Rs100, the company will invest Rs105 in the units by contributing Rs 5 on its own unlike other ULIPs in the market that will deduct charges from your premium before allocating your funds.

But there is a catch. The policy will deduct charges from your account at the end of the year by liquidating some of your units.

According to the CEO of Bajaj Allianz Life, Sam Ghosh," At the end of the year, there will be a fund management charge, and that will be there as long as we hold the funds. That is a pure investment fund management charge."

The annual fund management charges on this plan work up to 3.25 per cent per annum, higher than the average 2 per cent charged by ULIPs in the market. Also, this charge will be collected every year.
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