Reliance Petro IPO price band may be in Rs.57-62 range
Mumbai: Reliance Petroleum controlled by Mukesh Ambani is understood to have fixed a price band of Rs57-62 for its initial public offer to raise over Rs5,000 crore. The offer of RPL, a subsidiary of flagship Reliance Industries Ltd, is likely to open on April 13, market sources said.

RPL is coming out with the IPO to part-finance its Rs27,000 crore Greenfield refinery in Jamnagar, Gujarat.
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Asian Electronics to raise $60 million via ECB, FCCBs
Mumbai: Asian Electronics plans to raise $60 million through issuing ECB, foreign currency convertible bonds or other securities from overseas markets. The board has approved the fund raising, hike in foreign institutional investors (FIIs) investment limit and increase in the borrowing powers of the company, the company said.

The company's share was trading at Rs509.75 up 1.95 per cent on the Bombay Stock Exchange.
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Santa-Banta plan Rs.60-cr IPO
Chandigarh: Santa Banta.com is going public. JD Ghai, chairman of the Chandigarh-based company that owns website santabanta.com, which he claims is growing at the rate of 100 per cent per year, is planning a public issue to raise Rs60-crore IPO from the market around October this year.

"The funds raised from the IPO would be used for establishing the brand further and to cover other activities which would include among other things an infotainment TV channel called Santabanta.com," said Ghai.

The company has been profitable since the last three years and is following the pre-planned path, the management is hoping to go public in coming fiscal. "The web portal that has a lot of fan following abroad and it alone has helped the company clock an annual turnover of more than Rs.1 crore. About 90 per cent of this is advertisement revenue and "some of the best European and American corporate advertise on our site," reveals Ghai.
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German fund house DWS to enter India
Kolkata: Western Europe's top asset management groups, DWS plans to enter India, mainly due to a revamp of Deutsche Asset Management's (DeAM) operations in the country. DWS, which is Deutsche Bank's mutual fund brand in Europe and Asia, will present the new public face of DeAM in the Indian market.

Sandeep Dasgupta, business head of DeAM in India, said, "Key retail markets in the Asia Pacific region have displayed strong growth trends. DWS is being launched keeping in view this growth potential."

The impending change in India follows recent revisions in other parts of the world, which include re-tooling Scudder Investments (the US-based funds business of its global asset management division) as DWS Scudder.
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Federal Moghul not to consider revision in offer price
New Delhi: Federal Moghul Corporation (FMC) said that it was not considering a revision of its price offer for a stake in Goetze India after it failed to acquire co-promoter Anil Nanda's 24.64 per cent stake in the company.

FMC earlier made an offer to acquire 62,30, 000 equity shares of GIL from Anil Nanda by way of inter se, amounting to 24.64 per cent stake. The two had agreed to carry out the transaction by March 31 upon a price band of Rs 205-215 per share. The deal failed to materialise as the market price of GIL share at the time of the proposed transaction was above the agreed price band. According to the SEBI and RBI guidelines, a stake sale to a foreign promoter if the offered price is lower than the existing market price.

Had the proposed acquisition of stake taken place, FMC would have had majority holding in GIL with 50.10 per cent stake.
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