KRBL to raise $50 million via GDR issue
Mumbai: KRBL, which produces the India Gate brand of basmati rice, said its $50 million global depository receipt issue at Luxembourg Stock Exchange had opened on February 20. The closing date for the GDR issue is February 24, the company informed the Bombay Stock Exchange.
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Lifetime prepaid offer from 5paisa.com
Mumbai: After telecom firms, the broking industry has now come out with `lifetime pre-paid' offers. 5paisa.com (the online trading Web site of India Infoline Securities), the wholly-owned subsidiary of India Infoline, announced the launch of a lifetime prepaid charge for its broking and DP (depository participant) customers for Rs555.

For this fee, the customer will get the company's Internet trading interface with real-time quotes, instant order confirmation, real-time updation of orders, trades, portfolio and market information said Nirmal Jain, chairman and managing director, India Infoline.

He said the scheme is aimed at attracting retail investors and added that the company hoped to add more than 10,000 new customers per month.

Currently, the company has 55,000 active customers for the online trading division, which contributes to 60 per cent of its revenues.

According to the scheme, the customer will pay Rs555 at the time of registration to commence broking and DP operations. However, the customer will have to keep a minimum margin of Rs5,000 in the account, against which the customer will get trading limits. Post-registration, the customer will only pay brokerage and depository transaction as per actual usage.
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CBI arrests seven in Yes Bank, IDFC scam
New Delhi: The Central Bureau of Investigation (CBI) has arrested seven people including Deepakbai N Panchal in Ahmedabad in connection with the IPO scam in IDFC and YES Bank. Rupalben Panchal, the main accused and sister-in-law of Deepakbai is still absconding.

The arrested will be produced in a designated CBI court to seek their remand, the CBI sources said. The CBI conducted raids at 27 places in four cities after registering two cases against several people for allegedly cornering share of these two banks and offloading them on the day of its listings in the stock exchange.
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