Cipla to raise $200 million
Mumbai: Pharma major Cipla plans to raise $200 million by issuing securities in the domestic or international markets. The company will also issue bonus shares in the ratio of 3:2.

The company plans to seek shareholders approval through the postal ballot for raising $200 million by private placement of equity shares with institutional investors by way of a domestic offering of equity shares or equity shares through depository receipts or convertible bonds or other securities convertible into equity shares, in one or more tranches, the company informed the Bombay Stock Exchange.

The shareholders will consider the issue of bonus shares of the company in the proportion of three equity shares for every two existing equity shares held. The company will seek shareholders approval for investment in the company by foreign institutional investors (FIIs) up to an aggregate limit of 40 per cent of the paid-up equity share capital of the company, it said.
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Vimta Labs to raise funds from FIIs / MFs
Mumbai: The board of directors of Vimta Labs has approved a proposal to raise Rs 78.42 crore from foreign institutional investors and mutual funds by issuing shares on preferential basis.

Vimta Labs said, India Fund Inc - a fund of the New York-based Blackstone Group - will subscribe to 2,33,079 equity shares of
Rs10 each at a price of Rs950 per share (which would be equivalent to 11,65,395 equity shares of Rs2 each on sub-division of shares at Rs190 per share) in a press release.

"Voyager Fund Mauritius will also subscribe to 2,33,079 equity shares of Rs10 each at Rs950 per share (equivalent to 11,65,395 equity shares of Rs2 each on sub-division of shares at Rs190 pershare). Minivet Ltd, Mauritius will subscribe to 93,231 equity shares," the release added.

Franklin India Smaller Companies Fund of Franklin Templeton Asset Management India will acquire 1,77,362 equity shares of
Rs10 each at Rs950 per share (equivalent to 8,86,810 equity shares of Rs2 each at Rs190 per share). Franklin India Prima Fund will acquire 88,681 equity shares of Rs10 each at Rs950 per share, the release added.

The board also approved a proposal to hike investment limit of FIIs / NRIs from 24 per cent to 49 per cent of the paid-up capital of the company.
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Odyssey to launch IPO by May
Mumbai: Deccan Chronicle Holdings' wholly-owned subsidiary, Odyssey India that operates a chain of book stores in south India, will launch an initial public offering by May. On completion of the IPO, Deccan's holding in Odyssey will come down to 74 per cent. Odyssey

Shares of Deccan rose nearly 6 per cent to Rs 440 in a firm market.
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