Sterlite Optical makes preferential allotment
Mumbai: Sterlite Optical Technologies' committee of directors constituted for preferential allotment, at its meeting held on March 29, has allotted equity shares and warrants to Twinstar International, Mauritius, aggregating Rs33.6 crore. The company has allotted 28 lakh shares at Rs100 per share, aggregating Rs28 crore. It has also allotted 56 lakh warrants with the option to convert each warrant into one equity share of Rs5 each, within 18 months period from the date of allotment. The company received Rs5.6 crore on these warrants. Shares of Sterlite Optical moved up by 1.02 per cent to Rs94 in Thursday's trade on the BSE.
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Zee's share swap ratio
Mumbai: Zee Telefilms (ZTL) has announced that Zee News Ltd would allot 137 shares for every 100 held in ZTL. The company had announced a restructuring plan on Wednesday, according to which four listed entities would be created that include ZTL, Zee News and Wire and Wireless and Dish TV.

If FIIs hold more than 32 per cent shares of the company, then such class of FIIs, holding more than 0.5 per cent shares, would be allotted preference shares for such excess holding - 1,781 fully paid up preference share of Re1 each for every 100 equity shares held in the company.

Shares of ZTL moved up by Rs2.95 to Rs242.50 in Thursday's trade on the BSE.
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ICICI Bank sells Mysore Cements stake to MFs
Mumbai: ICICI Bank has sold its entire 8.48 per cent stake in the SK Birla group-controlled Mysore Cements to mutual funds and foreign institutions, including SBI Mutual Funds and Franklin Templeton Investments, for about Rs36 crore. As many as 73.93 lakh shares were sold at Rs48 each.

Mysore Cements' scrip hit a 52-week high of Rs49.8 on the Bombay Stock Exchange Thursday and closed the day at Rs49.75, up 4.85 per cent from the previous close. This is the third time in a little more than a week that the cement company's scrip has touched the 52-week high.

On March 21, Citigroup Global Markets Mauritius bought 10.17 lakh shares of Mysore Cements, representing 1.16 per cent stake for a total consideration of Rs4.43 crore. The surge was also fuelled by a speculation that a foreign major was eyeing equity participation in the company.

As on December 31, 2005, promoters hold 25.13 per cent stake in the company. The company has an annual production capacity of almost 2 mt and has facilities in Karnataka and Madhya Pradesh.

In a related development, Mysore Cements has has allotted 30 lakh warrants to Maya Trade Links and allotted 49,290 cumulative redeemable preference shares of Rs100 each at par to Industrial Development Bank of India.
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Warburg picks seven per cent stake in Dainik Bhaskar
Mumbai: Warburg Pincus today has up a 7 per cent stake in the Hindi publication, Dainik Bhaskar, for Rs150 crore, putting the valuation of the company at Rs2143 crore.

Dainik Bhaskar, the number two daily in the country, is part of the Bhaskar Group, which has presence in the media, textiles, fast-moving consumer goods and oil and solvents. The Hindi publication has a presence in eight states with a daily circulation of 3.5 million copies.

At this valuation, Dainik Bhaskar ranks marginally ahead of the listed print media company, HT Media, which is current valued at Rs2124 crore.

Deccan Chronicle, another listed entity, ranks third with a market cap of Rs2031 crore..
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