Holcim offer for Gujarat Ambuja delayed
Mumbai: Swiss cement maker Holcim's open offer for Gujarat Ambuja Cements, scheduled to open on March 25, will be delayed by a few days, said sources close to the offer. Holcim, the world's second-biggest cement maker, had bought a 14.8 per cent stake in Gujarat Ambuja for Rs21 billion in January and had offered to buy up to 20 per cent more from public shareholders at Rs90.64 each.
Back to News Review index page  

RIL plans listing of merged firms in July
Mumbai: Shareholders of Reliance Capital and Reliance Capital Ventures will meet on April 25 and April 26, respectively to approve the scheme of amalgamation of RCVL with Reliance Capital Ltd.

The filing of the court order granting sanction for the scheme with the Registrar of Companies is expected in the week beginning June 12; the record date will be in the week beginning July 10 and the allotment and listing of shares of the resulting company in the week beginning July 17, said a statement from Reliance Capital. The statement said these dates are part of the group's "tentative schedule."

Similar shareholder meetings of Reliance Energy and Reliance Energy Ventures (REVL) are scheduled for April 26 to consider amalgamation of REVL with Reliance Energy.

RCVL and REVL were among the companies that were spun off during the demerger of the Reliance group. They belong in the Anil Dhirubhai Ambani Enterprises fold.
Back to News Review index page  

Alternative investment market an important tool
Chennai: Alderman David Brewer CMG, the Lord Mayor of the City of London Alternative Investment Market (AIM) while delivering the inaugural address at the seminar on "The Alternative Investment Market-Financing International Business in London," said AIM offers young companies the extremely valuable resource of an alternative to private equity or venture capital, a tool for going public far earlier than would otherwise be possible.

The seminar is being held here to explain to Indian businesses the benefits of listing on the London Stock Exchange's AIM, which gives firm access to the market at an early stage of their development, allowing them to experience life as a public company. AIM has emerged as the most successful growth market of its type in the world.

Alderman said AIM opened up an entirely new investor base to finance growth for Indian companies in industries "where the markets do not offer early stage finance, or that are going global in their development."
Back to News Review index page  

Nahar Exports considering stock split
Mumbai: Nahar Exports' board will meet on March 30 to consider a 2-for-1 stock split and to transfer its textile business to Nahar Spinning Mills, the company said on Friday.

Shares in Nahar Exports were up 7.3 per cent at Rs74 in a firm Mumbai market.
Back to News Review index page  

Autocop to raise Rs200 crore from IPO
New Delhi: Car security and electronic accessories maker, Autocop group, is planning to raise about Rs200 crore through an IPO in the capital markets and is also considering a joint venture with Pioneer, the leading global car audio system maker, to market its products in the country.

"We are looking at an initial public offer to raise around Rs200 crore," said Umesh Deshpande, managing director. Autocop today signed a distribution, marketing, and service support agreement with Singapore-based Pioneer Electronics for car audio systems.
Back to News Review index page