M&M Financial IPO price fixed at Rs.200 per share
Mumbai: Mahindra & Mahindra Financial Services (MMFLS) has fixed the price of its initial public offering of two crore shares at Rs200 per share. The shares will be listed on stock exchanges shortly.

The initial public offer of MMFLS was over subscribed 27.02 times when the issue closed on February 24. The company had issued two crore shares through book building process at a price band of Rs170 to Rs200.

Qualified institutional bidders subscribed 32.5 times, non-institutional investors 43.73 times while the retail subscribed it 10.3 times more that the allotted shares in the respective categories.
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Color Chips to issue GDRs to raise $8 million
Mumbai: Color Chips, an integrated design solutions company, will raise $8 mn through the issue of Global Depository Receipts (GDRs), Foreign Currency Convertible Bonds (FCCBs) or other equity-linked securities in the international or domestic markets.

The board has also approved the issue of 30 lakh equity shares of Rs 10 each on preferential basis, it added.

The company has decided to convene an EGM to obtain the shareholders consent for the above issues.
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KEC International debuts at Rs.425 post restructuring
KEC International debuted on the stock markets today and hit a low of Rs410.25 and a high of Rs490 post the debut.

On the BSE 15.8 lakh shares were transacted.

Trading in the scrip had been suspended from early February 2006 to give effect to a restructuring scheme whereby it transferred its investments and advances portfolio to a separate company. The current equity capital of the company is Rs37.68 crore.

The combined holding of FIIs, foreign mutual funds and foreign companies in KEC is 14.2 per cent.

KEC International is one of the largest power transmission, engineering, procurement and construction companies in the world with presence in more than fifteen countries.

The company's business includes design, fabrication, galvanising and testing of transmission line towers, all types of masts, erection of complete transmission lines, supply and erection of tower materials, sub-station structures and overhead equipment for railway electrification.
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SBI Mutual Fund NFO collects Rs.2,855 crore
SBI Mutual Fund has received 7.4 lakh applications aggregating Rs 2,855 crore under the new fund offering for its open-ended equity scheme, Blue Chip Fund. The fund house will invest in 150 companies whose market capitalisation is over Rs 2,250 crore at current levels and have an excellent track record.

This is the highest ever amount collected by a fund house for an open-ended equity scheme during the NFO period.
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Gitanjali Gems lists at Rs.204
Mumbai: Gitanjali Gems listed on the BSE at Rs204 per share on Friday, up 4.6 percent from its initial public offer of Rs195.
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Shree Ram Mills issues bonus shares
Shree Ram Mills' shareholders have passed the resolution for issue of bonus shares in the proportion of one new equity share for five existing equity shares held. 31 March has been fixed as the record date.
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HOCL boosted by government's revival package
Hindustan Organic Chemicals (HOCL) was locked at the 5 per cent upper limit of Rs39 today and there were outstanding buy orders for 97,400 shares on the BSE. The scrip is traded in the trade to trade segment on the bourses.

The scrip has received a boost with the government's revival plan for it. Till last month the share was moving between a low of Rs37 and a high of Rs41.

As per the revival package, government will infuse Rs75 crore equity in the company to enable it to pay off VRS loans to 685 employees (Rs31 crore), and introduce a fresh VRS for another 590 people (Rs36 crore) and part repayment of bonds (Rs8 crore).

HOCL has two manufacturing units at Rasayani, Maharashtra and at Cochin, Kerala. It produces nitrobenzene, anilin, acetanilide, formaldehyde and sulfuric and hydrochloric acids at its Rasayni plant. The Cochin plant produces phenol, acetone and hydrogen peroxide. It has a subsidiary at Hyderabad, which manufactures polytetrafluoroethylene (PTFE) complex for industrial use.
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Zigma Software issues bonus shares
Zigma Software's shareholders have approved the issue of bonus shares in the proportion of one bonus share of Rs1 each for every two fully paid-up equity shares of Rs1 each held, subject to necessary approvals and provisions.
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IL&FS to consider dividend for current fiscal
Mumbai: Financial services company IL&FS Investment Managers said its board would meet on April 17 to consider paying a dividend for 2005/06 and take on account the annual financial results.
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