Reliance Cap sets share ratio in Adlabs demerger
Mumbai: Reliance Capital (RCL) has announced the ratio for distributing shares accruing to it from Adlabs Films (AFL) demerger from its FM radio business. RCL is AFL's promoter.

The demerged company would be separately listed on the BSE and the NSE. The demerger proposes issue of pro-rata shares by the SPV to all AFL shareholders in the ratio of two free shares of the SPV for every one share of AFL.

Reliance Land (RLL), an affiliate of RCL, would receive 4.12 crore shares of the SPV, and the shares received would be distributed to all RCL shareholders in the ratio of one share of the SPV for every six RCL shares held.

All shareholders of Reliance Capital Ventures Ltd (RCVL), currently in the process of merging with RCL, would also receive free shares as above of the SPV in line with their shareholdings in RCL, the statement said.
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Patel Engineering FPO opens on May 3
Mumbai: Patel Engineering is floating a follow-on public offer of Rs425 crore to partly meet its investments in infrastructure projects and capital equipment. The offer, which comprises a fresh issue of equity shares of Re1 each at a premium with the price to be determined through 100 per cent book building process, opens for subscription on May 3 and closes on May 9. The issue comprises a net issue to the public of Rs403.75 crore and a reservation for existing retail shareholders of the company of Rs21.25 crore.
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RPL sets price at Rs.60/share
Mumbai: Reiance Petroleum (RPL) has fixed the issue price for its mega public issue at Rs60 per share, setting the total mobilisation from the public at Rs2,700 crore.

The IPO by RPL, promoted by Mukesh Ambani-controlled Reliance Industries and the US oil major Chevron, was through a book-building process with a price band of Rs57 to Rs62.
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Sun TV lists at 67 per cent premium on debut
Mumbai: Sun TV debuted on the bourses today at Rs1111 and closed the day at Rs1466 a gain of 67 per cent over the issue price of Rs875.

Valued at over Rs10,000 crore, Sun is now the second most valuable media company, next to Subhash Chandra-owned Zee Telefilms. Sun ended the day with a market capitalisation of Rs10,099 crore, compared with Rs10,191 crore for Zee.

Sun opened at Rs1,111, a premium of 27 per cent over the public offer price on the Bombay Stock Exchange (BSE) and touched a low of Rs1,061 during the day but ended on a strong note, despite the weak market sentiment today.

The IPO of 68, 89,000 equity shares was subscribed 46.92 times.
The QIB portion of the public offer was subscribed 70 times. The retail portion was subscribed 2.9 times and that of non-institutional buyers 35.48 times.Only 10 per cent of the company's stake has been offered in the IPO.

Analysts say Sun TV would be seen as an attractive media and entertainment stock for investors. Sun TV is part of the Sun Network, which runs 14 TV channels, four FM radio stations, two daily newspapers and four magazines.

The issue proceeds would be used to strengthen Sun TV's subsidiaries, launch more TV channels, construct its own corporate office, set up studio facilities and up-linking infrastructure, purchase new equipment and upgrade existing ones.

In Monday's trade, ZTL shares moved up by Rs4.95 to Rs247.05 on the BSE. NDTV moved up Rs8.30 to Rs270.35. TV Today rose by Rs5.35 to Rs105.50.
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Viceroy Hotels in share allotment
Hyderabad: Viceroy Hotels' board of directors at a meeting held on Monday has allotted 40.25-lakh equity shares of Rs10 each at a premium of Rs90 per share and 74.75-lakh convertible warrants of Rs10 each at a premium of Rs90 per share to the proposed investors on a preferential offer basis.
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