GIC Housing to come out with rights issue to raise
Rs150 crore
Mumbai: GIC Housing Finance plans to raise Rs50 crore through issue of 2.69 crore shares on rights basis. The shareholders of the company have approved the issue of up to 2.69 crore equity shares of the company of Rs10 face value each on right basis to their equity shareholders in such ratio as may be deemed appropriate by the board, the company informed the Bombay Stock Exchange.
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REVL files information memorandum with BSE, NSE
Mumbai: Anil Ambani-controlled Reliance Energy Ventures (REVL) has filed the information memorandum with the stock exchanges for listing the company and is the second of the four demerged entities of Reliance Industries Ltd (RIL), now under Anil Ambani's control, to file the information memorandum. The company will be listed after it gets approval from the stock exchanges.

The first company to be listed was Reliance Capital Ventures at Rs24.80 on BSE and Rs24.50 on the NSE.

The ADAG group also plans to list Reliance Natural Resources (RNRL) and finally Reliance Communications Ventures (RCoVL). The listing would be followed by a merger of REVL and RCVL with the utility major Reliance Energy Ltd (REL) and Reliance Capital (RCL) respectively.
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Visa Steel to raise Rs200 crore from market
New Delhi: Visa Steel is entering the capital market with an issue of 35,000,00 equity shares of Rs10 each for a cash premium to be decided through 100 per cent book building process, according to a company spokesman. The company plans to raise upto Rs200 crore to finance a part of capital expenditure for brownfield expansion of its existing manufacturing facilities in Orissa into an integrated 0.5 million tonne per annum of special and stainless steel.

The price band of the issue has been fixed at Rs52 and Rs57 and the issue comprises of promoters contribution of 5,000,000 euity shares and thus the net issue to public will be 30,000,000 equity shares.

Of the net issue to public, not more than 50 per cent shall be available for allocation on a proportionate basis to the qualified institutional bidders of which five per cent shall be reserved for alloation to mutual funds, he said.

The net issue to public would constitute 27.27 per cent of the post issue paid up equity capital of the company. The issue opens for bids on on February 23 and closes on February 27.
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Jaybharat Textiles to go for stock split
Mumbai: Jaybharat Textiles & Real Estate is splitting the equity shares of the company in 1:2 ratio. The face value of the equity share of the company would be split from Rs10 each to Rs5 each, subject to necessary approvals.

The company is investing Rs290 crore for implementing an integrated textile project.

The company is also venturing into real estate activities of construction and development of five- star hotel, shopping mall, IT park, residential complexes and multiplex, it added
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Reliance Capital Ventures lists on BSE, NSE
Mumbai: Anil Ambani-controlled Reliance Capital Ventures Ltd (RCVL) has been listed on the country's two leading bourses BSE and the NSE on Tuesday. RCVL, the first of the four newly carved out companies from Mukesh Ambani's RIL and transferred to Anil, was listed at Rs24.80 at the Bombay Stock Exchange and Rs24.50 on the National Stock Exchange.

Within minutes of the scrip being listed, about 22.6 lakh RCVL shares changed hands on the BSE in four block deals.

About 122.31 crore shares were listed at BSE. The shares have been listed under the scrip code '532703' in the B1 group. The scrip ID on BOLT system would be 'RCAPVL'.
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Promoter's stake sale in HCL Info not linked to Nokia deal
Mumbai: Promoters of HCL infosys have been gradually reducing their stake in the company over the past two months that has led to the share price of the company falling.
Saurav Adhikari, a spokesperson for HCL promoter Shiv Nadar's office, said the shareholding had changed as part of a portfolio rationalisation exercise.

Adhikari said, "HCL Corporation is completely divorced from the operations or the board of the company. Nadar is only a shareholder in the company and is not involved in any executive decisions at HCL Infosystems. He has been out of the company since 1995-96, and his reduction in the holding is nothing more than a portfolio rationalisation."

Nadar's holding of 45 per cent stake is indicative of his commitment to the company Adhikari said and added, "There is no relationship between today's announcement about Nokia and this portfolio rationalization."
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SEBI to set up surveillance system to alert investors
Chennai: The Securities and Exchange Board of India is putting in place a surveillance system in the to alert investors about abnormal activities in the stock market and the Market Surveillance System would be based on the inputs furnished by various exchanges said G Anantharam, a wholetime member of SEBI..

An independent guiding system has been introduced to serve as guideline for investors he said adressing a meeting organised here recently by the Madras Stock Exchange to create awareness about investing in shares.
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