ACC converts FCCBs
Mumbai: Cement company ACC has allotted 12,083 shares against conversion of FCCBs by bondholders after resolutions passed by the Shareholders/Investors Grievances Committee of the Board.

The company informed BSE that consequently, the paid up share capital of the company has increased from 18,70,07,595 shares to 18,70,19,678 shares at Rs10 face value.
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India Infoline to offer trading through mobile
Mumbai: India Infoline has begun to offer mobile trading with its first ever unique, customised Mobile Value Added Service (VAS) for its customers.

An India Infoline release said that the company will provide its customers with first hand information about their own stocks and account positions. VAS service offers customised solution to its clients in the form of real time news pertaining only to the stocks in customers' account, market updates, which includes Sensex, Nifty, Midcap, Dollar and Gold and day-end net position of the customers' portfolio.

Customers can also obtain their risk position before the market opens through debit/credit ledger balance. VAS will also provide real time prices of the scripts in the customers account and research generated premium stock ideas to further add value.
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Fortis Healthcare files red herring prospectus for IPO
New Delhi: Fortis Healthcare has filed its draft red herring prospectus with the Securities and Exchange Board of India on September 29 for an initial public offering of equity shares.

The company proposes to offer 5.67 crore equity shares of Rs10 each for cash at a premium to be decided through the 100 per cent book-building process to be listed on the Bombay Stock Exchange and the National Stock Exchange.

Fortis Healthcare also proposes to allot five lakh equity shares to eligible employees of the company in the firm allotment portion.

At least 60 per cent of the offering will be allocated to qualified institutional buyers on a proportionate basis, five per cent of which will be available for allotment to mutual funds registered with the SEBI. Not less than 10 per cent of the offering will be available for allocation to non-institutional investors and not less than 30 per cent of the offering will be available for allocation to retail investors on a proportionate basis.
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Ind Synergy files for IPO
Mumbai: Ind Synergy has filed the draft red herring prospectus with the SEBI for its proposed initial public offer (IPO).

The company will offer 2, 00, 00,000 equity shares of Rs10 each at a premium to be decided by the 100 per cent book building process.

The issue proceeds will fund the company's third-phase expansion of the steel division.

The company proposes to set up an integrated steel plant with a capacity of 2,40,000 MTPA for production of stainless steel, alloy long products and alloy seamless products, adjacent to its existing facilities in Raigarh district, Chhattisgarh.
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Mixed response to IPOs
Mumbai: While Developement Credit Bank's initial public offer was fully subscribed others received disappointing responses.

DCB, which entered the capital market with an issue of 7.15 crore equity shares received 7,95,44,750 bids for the offering.

The price band for the issue has been fixed at Rs22- 26 per share and the issue will close on October six.

However other IPOs received a disappointing response. Accel Frontline, which will issue over 56.35 lakh equity shares, received bids for only 2.74 per cent of the offered amount.

The price band for the offer has been fixed at Rs75-90 per share.

Hanung Toys and Textiles public offer of 95 lakh equity shares also received disappointing response from the investors as it received subscription for only 55.83 per cent of the offer.

JHS Svendgaard Laboratories IPO also remained under subscribed with about 86 per cent bids for the issue of 62 lakh equity shares.

Global Vectra Helicorp's IPO also remained undersubscribed with only 0.26 per cent bids for the offered 35 lakh equity shares today and the issue will close on 6 October.

The price band has been fixed at Rs175- 200 per share.
Minar International Ltd's IPO received 42 per cent subscribtions for its offer of over 69.23 lakh equity shares.
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Birla Group to raise Rs100-cr from market
Kolkata: The K K Birla group plans to raise upto Rs100 crore of funds from the market to finance Oudh Sugar Mills' projects that include setting up of a greenfield sugar unit at Hatta in eastern Uttar Pradesh. Oudh Sugar Mills has obtained its board of directors in principle approval for the enabling resolution. It now intends to seek its shareholders approval.

Company officials said the company at this stage is undecided on whether it will go for an overseas quotation or a domestic issue. Edelweiss Capital Limited has been appointed as merchant banker.

The company is exploring all options, ranging from an issue of GDRs, ADRs, an issue of foreign currency convertible bonds or equity shares under qualified institutional placement guidelines.

Oudh Sugar Mills' would raise the funds to meet the bulk of its commitment for the proposed greenfield project entailing an investment of Rs336 crore as well as other expansion plans like enhancing the distillery capacity of its Hargaon unit in UP for an estimated Rs100 crore.

It has, for the time being, deferred its plans to expand the sugarcane crushing capacity of its Rosa unit in UP by 1,300 tcd from 4,200 tcd and set up a co-generation plant of 20 MW for an investment of Rs117 crore.

Earlier Oudh Sugar Mills raised close to about Rs39 crore through a rights issue last June to reduce debt and meet a portion of its working capital requirements.
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