Priyadarshini Spg to pay 10 per cent dividend
Hyderabad: The board of directors of Priyadarshini Spinning Mills has recommended a dividend of 10 per cent for the year ended March 31, 2006. The company has registered a turnover of 39.38 crore in the first quarter ended June 30, 2006, as against Rs30.54 crore. The net profit for the quarter was higher at Rs1.10 crore (Rs88 lakh).
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Teledata Informatics allots shares
Chennai: Teledata Informatics' board of directors has allotted 81 lakh equity shares of Rs10 each at a price of Rs37 per share and 96 lakh equity shares of Rs10 each at a price of Rs26 per share to Complete Agro Biotech Solutions. It has also allotted 2.5 crore equity warrants at a price of Rs26 to the promoters, a notice to the stock exchange said.
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FIIs allowed to acquire up to 49 pc stake in UTI Bank
Mumbai: Foreign institutional investors can now purchase equity shares of UTI Bank Ltd, under Portfolio Investment Scheme, through primary markets and stock exchanges in India up to 49 per cent of its paid-up capital. The bank's board of directors has passed a resolution to this effect, said a release from the RBI.
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Tech Mahindra shares to be listed on BSE, NSE
Mumbai: Tech Mahindra will be listed on Bombay Stock Exchange and National Stock Exchange on August 28.

Tech Mahindra, an IT solutions provider to telecom companies, which offered 12,746,000 equity shares through an IPO earlier this month, had fixed the issue price at the upper end of the price band at Rs365 per equity share of Rs10.

The company received an overwhelming response from all categories of investors getting over subscribed 70.09 times. While the qualified institutional buyer (QIB) portion was oversubscribed 103.98 times, the high net worth individual (HNI) category was oversubscribed by 123 times and the retail category was oversubscribed by 7.58 times. The issue received over 1.93 lakh bids, the release said.

The IPO of 12,746,000 equity shares of Rs10 each consisted of a fresh issue of 3,186,480 equity shares and an offer for sale of 9,559,520 equity shares by Mahindra and Mahindra Limited and British Telecommunications Plc (of the issue. As many as 1,158,790 equity shares were reserved for eligible employees), which opened for subscription on August 1 and closed on August 4.

The issue constituted 11 per cent of the post issue paid up capital of the company, and the net issue constituted 10 per cent of the post issue capital, the release said.
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Kopran Pharma to issue 2.26 lakh shares to SBI
Mumbai: Pharmaceutical firm Kopran has announced plans for allotment of 2.26 lakh equity shares to State Bank of India on preferential basis. The company informed the Bombay Stock Exchange that its board of directors at a meeting held today has proposed to issue 2.26 lakh fully paid-up equity shares on preferential basis to SBI and 4.48 lakh fully paid-up equity shares to Industrial Development Bank of India (IDBI).

According to the latest data available with BSE, IDBI held 5 lakh shares of Kopran, amounting to a 1.86 per cent stake, as on March 31.
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