EDS open offer to MphasiS
Bangalore: Electronic Data Systems Corporation (EDS) has made an open offer to shareholders of MphasiS BFL to acquire a 20 per cent more stake in the company at Rs204.5 a share. This price is at a marginal discount to the MphasiS' current ruling price.

Following the open offer news, MphasiS shares edged up on the BSE to close 2.2 per cent higher at Rs210.5 after touching an intra-day high Rs214.90 on Thursday.

This open offer for slightly more than 3.294 crore shares by EDS, starts November 27 and ends December 18, and after the second open offer, EDS' holding in MphasiS BFL will increase to 70.4 per cent. The previous offer closed on June 5.
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Franklin Templeton offers capital protection fund
Mumbai: Franklin Templeton Investments has launched India's first capital protected scheme called Franklin Templeton Capital Safety Fund. The fund targets capital preservation according to the new guidelines on capital protection by SEBI. It aims to protect capital by investing in high quality equity and provides safety of capital through debt investments. The fund has AAA (so) rating from Crisil indicating the highest degree of certainty on timely repayment of the units at face value.

The close-ended fund offers two plans - 3 and 5 year plans with Growth and Annual Dividend Plans. Minimum investment for the fund is Rs10,000. The new fund offer opens on October 31 and closes on November 30.

No entry and exit load will be charged for the scheme and it has been benchmarked against the Crisil MIP Blended Index.
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Lanco Global increases authorised capital
Hyderabad: Lanco Global Systems is increasing the authorised share capital from Rs26 crore to Rs40 crore by the creation of additional equity shares. The company has informed the BSE that the members at the extra-ordinary general meeting on October 12, 2006 have authorised the board to issue and allot up to 75 lakh equity shares of Rs10 each for cash plus the amount of premium.
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FIEM lists at 5.84 pc premium
Mumbai: Automotive lighting company FIEM Industries, has debuted on the BSE at Rs145, a premium of 5.84 per cent to the offer price of Rs137. The stock reached an intra-day high of Rs148 and closed at Rs121.75 below its offer price. The stock hit a low at Rs119.65.
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Ingersoll Rand to pay interim
Bangalore: Ingersoll Rand India has declared an interim dividend of Rs 3 per share (30 per cent) for fiscal 2006-07 on the back of surging profits during the quarter ended September 30.

The company reported a net profit of Rs14.7 crore for Q2 of 2006-07 against Rs5.34 crore for the corresponding quarter in 2005-06. Its total income registered a 54 per cent increase to Rs168.42 crore (Rs108.8 crore). The interim dividend will be paid in November.
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DLF to settle debenture issue with shareholders
New Delhi: To pacify its minority shareholders regarding its rights issue, DLF group has decided to re-offer the debentures to those shareholders who had missed out earlier.

Minority shareholders, whose debentures got forfeited, can now re-apply for the convertible debentures. The company has called for an EGM on November 14 to get shareholders' nod on the issue.

Once the issue with minority shareholder is sorted out, the company will file a fresh draft red herring prospectus with Sebi by early December. Company sources said 81,983 debentures would be re-issued to about 1,000-odd shareholders who missed out on the rights issue in December. Each convertible debenture will fetch 10 equity shares of the company. The company has issued seven bonus shares against each share held by the existing shareholders and gone in for a stock split of face value of Rs10 in to Rs2.
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