Shivalik Global to float IPO
New Delhi: Textile firm Shivalik Global is planning to raise Rs60 crore through an initial public offer (IPO) to fund its capacity expansion in Faridabad unit and enhance its working capital.

The company plans to offer 1 crore equity shares of Rs10 each at a premium of Rs50 per share at a fixed price of Rs60 per share. The IPO would open on March 9 and close on March 14 and the funds raised would be used to fund its expansion including increasing its readymade garment manufacturing capacity by 36 lakh pieces from the current 24 lakh.

Other plans are increasing the dyeing, printing and processing capacity of woven fabrics by 90 lakh metres to 450 lakh metres; fabric knitting capacity by 1000 tonnes per annum; raising the dyeing and processing of knitted fabrics and dyeing and processing of yarn.

Post-IPO, Shivalik's equity capital would be Rs24.25 crore, up from Rs14.25 crore presently. The promoters stake would be diluted to 58.77 per cent of the post-IPO paid up capital.

Ten lakh shares would be reserved for the employees, banks and other financial institutions and non-resident Indians each. The remaining 70 lakh shares would be open for the public the company said.

The issue is lead managed by Allianz Securities and Centrum Capital.
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UTI Mutual fund raises Rs2,100 crore from Leadership Fund
Kolkata: UTI Mutual Fund has raised Rs2,100 crore from the Leadership Fund from 3.6 million investors and was expecting a favourable market response for its Contra Fund.

The company plans to focus on stocks that were currently undervalued for its Contra Fund and expected to give significant returns by the next three years.

The open-ended equity oriented scheme closes on March 22, 2006 and offers two options viz. growth and dividend option with payout and re-investment facilities.
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Aegis Logistics to acquire stake in SCL
Mumbai: Aegis Logistics has acquired 6.87 lakh equity shares of Sealord Containers (SCL) through an open offer to the shareholders.

The acquisition of 6.87 lakh shares at the face value of Rs10 each is based on the response in the open offer to be made by the company in accordance with SEBI Regulations, the company informed the BSE.

In total, the company would purchase 75 per cent stake of SCL, including the shares acquired in the open offer.

Further, the board of directors of the company has already approved acquisition of
12 lakh fully paid up cumulative redeemable preferential shares of Rs100 each of SCL, it added.
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SBI Blue Chip Fund raises Rs2,850 crore
New Delhi: SBI Mutual Fund has mopped up Rs850 crore from SBI Blue Chip fund, claiming that the amount is the highest raised by any mutual fund company during the new fund offer period. The MF received around 7.5 lakh applications for subscription to the fund, which opened on December 22 last year and closed on January 20.

The blue chip fund would focus on diversified scrips of the companies whose market capitalisation is equal to or more than the least market capitalised stock of BSE 100 index.

It would invest in the stocks of around 150 companies having a market capitalisation of more than Rs2,250 crore at the current level and whose track level is excellent over the years, SBI Mutual Fund managing director Deepak Chawla said.
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M&M's Tech, Holidays to enter capital markets
New Delhi: After the huge response to the initial public offer (IPO) of Mahindra and Mahindra Financial Services, group chief Anand Mahindra said he was looking to take two other group companies, Tech Mahindra and Mahindra Holidays, on the public route.

"We will be coming out with IPOs of the two companies," Mahindra said here on the sidelines of the Indio-US CEO Forum meeting, organised by CII.

He declined to divulge the exact timing of the IPOs. Tech Mahindra, earlier called Mahindra-British Telecom, is a large telecom software and services company. It is a 57:43 per cent joint venture between Mahindra & Mahindra and British Telecom. On the other Club Mahindra Holidays is a leading life time holiday company.
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Punj Lloyd to issue FCCBs
Mumbai: Construction firm Punj Lloyd Ltd plans raise $125 million through a foreign currency convertible issue. Other details were not immediately available.

The company's board had earlier this week approved raising up to Rs1,000 crore ($225 million) through equity or debt issue.

Shares in Punj Lloyd were up 1.4 per cent at Rs1,106 in a firm Mumbai market.
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