NSE hikes exposure margins in cash, F&O
Mumbai: The National Securities Clearing Corporation has decided to increase the exposure margins in the cash and Futures & Options segments by 50 per cent, in what it calls a move aimed at "ensuring the safety of the stock markets."

In a circular, the National Stock Exchange said the revised margins would come into effect for positions open on and from April 17. The decision to increase the exposure margins was "in continuance of surveillance review and pursuant to the meeting at SEBI, with a view to ensure market safety and safeguard the interest of investors," the circular said.

As per the revised structure, the exposure margin for stock products would be higher at 7.5 per cent, up by 50 per cent from the existing five per cent. The revised margins in the cash segment also stands at 7.5 per cent. The applicable exposure margin for index products will be 4.5 per cent from next Monday.
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Indian firms raise Rs.23,684-cr through equities in FY'06
New Delhi: Indian companies have raised Rs23,684 crore, mainly through fresh equity issues in 2005-06, to fund domestic and overseas expansion plans.

In the fiscal ended March 2006, as many as 102 public issues raised Rs23,684 crore, compared to 29 issues that had raised Rs21,422 crore in the previous fiscal, a growth of 11 per cent.

The major public offers during the year were from ICICI Bank (Rs5,750 crore), Bank of Baroda (Rs1,633 cr) and Oriental Bank of Commerce (Rs1,450 cr). The remaining 76 cases were IPOs, which collectively raised Rs10,808 crore or 45 per cent of the total amount. Major IPOs during the year were from Suzlon Energy (Rs1,496 crore), IDFC (Rs1,372 cr) and Punj Lloyd (Rs642 cr).

Raising of fresh capital by companies grew by 48 per cent to Rs22,016 crore in 2005-06 from Rs14,869 crore a year ago. The number of issues hitting the market grew by over 250 per cent to 102 in 2005-06 compared to 29 in the previous fiscal.
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RPL listing on bourses likely in first half of May
New Delhi: Reliance Petroleum Ltd (RPL), a Reliance Industries subsidiary, plans to list on the stock exchanges, likely between May 5 and May 10.

The company, whose public issue is priced at Rs57-62, is likely to be among the top 30 companies on the bourses in terms of market capitalisation. The IPO opens tomorrow and closes on April 20, an RIL official said.

The public issue comprises 135 crore shares, of which RIL would subscribe to 90 crore shares and the balance is on offer to the public.

Post IPO, the total outstanding share capital of the company will stand at 450 crore shares.
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Global pvt equity firm to invest in Sharekhan
Mumbai: Global private equity firm General Atlantic LLC (GA) will invest Rs144 crore ($31 million) in Sharekhan, an online broking firm, the Indian company said on Wednesday. The investment by GA shall be through a combination of fresh issue of shares and buying out the entire 14.8 per cent (pre-dilution) stake held in Sharekhan by First Carlyle Ventures (The Carlyle Group).

First Carlyle Ventures and other two early investors — Intel Capital and a group advised by HSBC Pvt Equity — held about 37 per cent before the current dilution. Sharekhan will use the proceeds from GA to fund its strategic initiatives, said a press release by the company.

Abhay Havaldar, managing director, and Sunish Sharma, vice-president, based out of General Atlantic's Mumbai office will be joining Sharekhan's board of directors.
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Goldman Sachs picks up 5.39 pc stake in Himachal Futuristic
Mumbai: Himachal Futuristic Communications Ltd (HFCL) on Wednesday informed the Bombay Stock Exchange that Mauritius-based Goldman Sachs Investments has acquired 5.39 per cent stake in the company, through open market purchases of 1.88 crore shares.

The company also said that the final tranche of $10 million, of the company's $43mn FCCB offering, has been allotted on April 10. The first tranche of $33mn was allotted on March 7. This completes the company's FCCB fund raising programme.
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DS Kulkarni to raise Rs.200-cr from composite issue
New Delhi: DS Kulkarni Developers have said that they plan to raise Rs200 crore from a composite share issue, comprising a public offer and a rights issue, to fund their ongoing, and new, residential and commercial real estate development projects.

The Pune-based company is entering the capital market on April 25 with a follow-on public issue of 55 lakh equity shares of Rs10 each for cash at a price to be determined through a book-building process.

The price band would be decided on April 22 at the board meeting, officials said.
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