Haldiram Bhujiawala plans IPO
Kolkata: Confectionery and snacks company Haldiram Bhujiawala is planning an initial public offer to fund its diversification and expansion programme.
Prabhu Shankar Agarwal, the promoter of Haldiram Bhujiawala said the company is talking to merchant bankers to decide on the exact amount of money to be raised.

Haldiram Bhujiawala will use the money to fund its plans to diversify into hotels and retail real estate as well as expand its existing business. The retailer currently has seven company-owned stores and 35 franchises in the city and its suburbs.

Agarwal has recently acquired 10 acres near Singur on the Durgapur Expressway where it will set up a large manufacturing facility expected to cost around Rs100 crore.

The company also plans to increase its exports, which are now 20 per cent of its sales, besides appointing more franchisee-stores in places as far away as Siliguri. Increasing its 300-strong distribution network is also on the cards.
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UTI Mutual ties up with IFFCO for pension fund
Kolkata: UTI Mutual Fund is planning to tie up with Indian Farmers Fertiliser Cooperative (IFFCO) to further its plans on the micro pensions front. The arrangement will cater to farmers in Karnataka and Punjab. In recent times UTI MF has entered into tie ups with SEWA, an organisation set up by women in Ahmedabad, and COMPFED, a federation formed by milk producers in Bihar which are aimed at providing investment opportunities through UTI Retirement Benefit Pension Fund.

UTI MF is also looking at the possibility of tying up with a mid-size cooperative bank in Maharashtra.
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Lanco Infratech to enter capital market
Chennai: Lanco Infratech, with interests in power generation, construction and property development, is entering the capital market with an initial public offer of 4.45 crore equity shares of Rs.10 each with a price band of Rs200 to Rs240. The issue will be open from November 6 to 10. Part of the issue proceeds will be spent in its subsidiaries, which are at various stages of development, to subscribe to the equity capital of the Nagarjuna Power Project and to make payment for acquisition of equity stake in Aban Power.

In the property development business, the company will develop 19.5 million sq. ft. of salable area, comprising a 100 acre integrated IT park and township and a 21.8 acre residential area located in Hyderabad. The company has also won a bid to develop an IT Park and township on a 10.7 acre plot in Visakhapatnam.
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