Icra assigns highest credit rating to Religare's debt programme
New Delhi: Credit rating agency ICRA has assigned its highest credit quality rating to the Rs340 crore short-term non-convertible debenture programme and Rs10 crore immediate term debt programme of Religare Finvest Ltd.

The 'A1' rating takes into account Religare's rapidly growing financing business volumes, its adequate risk management systems and its profitable operations, Icra said. The rating also draws support from the company's strong parentage of Ranbaxy Laboratories and its continuous managerial and financial support to the company, the release said.
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Ansal Properties to raise Rs2,500-cr
Mumbai: Real estate company Ansal Properties & Infrastructure has received shareholders approval to raise up to Rs2,500 crore through the issue of public issue, rights, qualified institutions placement (QIP) or any other basis. The company would also issue up to 8.19 lakh Zero Coupon Secured Redeemable Optionally Convertible Debentures (ROCD) of 100 each to HDFC Ventures Trustee Company Ltd at Rs610.01 each on preferential basis.

The company would also issue up to 28.83 lakh equity shares of Rs 5 each to Bahrain-based Citicorp Banking Corporation, Citigroup Venture Capital International Growth Partnership Mauritius Ltd and to its Co-Investment Trusts at a price of Rs610.01 per e quity share on preferential basis.

Earlier in October, the board of directors of the company had approved the raising of Rs2,500 crore, besides the issue of 8.19 lakh ROCD and 28.83 lakh equity shares.
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Singapore Cos can now hike stake in ICICI
New Delhi: India has allowed Singapore government-owned Temasek and government of Singapore investment corporation to double their stake in ICICI bank.

The Reserve Bank earlier did not allow the firms to raise their stake to 20 per cent from 10 per cent

in India's largest private sector bank was earlier as they considered as single entity. The matter was considered at the higher level and the nod came after Singapore cleared the long-pending application of State Bank of India and ICICI Bank to set up operations there. Back to News Review index page  

Sebi's 5 pc cap may turn off NYSE, Nasdaq plans for BSE stake
Mumbai: The Securities and Exchange Board of India (Sebi) decision to cap the individual equity holding in stock exchanges at 5 per cent may put off global bourses, including the likes of New York Stock Exchange (NYSE) and Nasdaq, from buying equity stakes in Bombay Stock Exchange (BSE).
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Though the government policy on foreign direct investment (FDI) in stock exchanges is still awaited, Sebi sources said the individual limit of 5 per cent will be applicable within the to-be-prescribed FDI/FII limit by the government - be it 26 per cent or 49 per cent.
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Info Edge to list today
Mumbai: Info Edge (India) would be listed and admitted to dealings on the BSE on Tuesday in the `B1' group. The company has offered 2.73 crore equity shares of Rs10 each at an issue price of Rs320 per share.
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Anil Ambani to set up global M&A fund
Mumbai: Anil Ambani is in discussions with George Soros, private equity firm Blackstone and Singapore state investment firm Temasek about launching a $5 billion global buyout fund according to reports in the global media.

Ambani has put up 500 million of his personal wealth and has received commitments of up to $2.5 billion from other investors, according to the report.

The fund, which was likely to be based in Singapore, would focus on firms in telecoms, media, communications technology, software, IT-related and broadband services, the paper said, quoting people familiar with the development.
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Ketan Parekh at work again in maize market: IB
New Delhi: Despite the ban ordered by the Forward Markets Commission in January this year on Ketan Parekh and his entities the trader is said to be allegedly manipulating trade in maize, an essential commodity, according to a report by the Intelligence Bureau to the government last week.

FMC has initiated a probe and is trying to find out if Parekh is stocking maize in warehouses in Nizamabad, a major centre. India is the seventh largest producer of maize in the world and the commodity is traded on the National Commodity & Derivatives Exchange. Market sources said maize prices have shot up 20-25 pc last month. They attributed the sharp rise to systematic manipulation and said the current demand-supply position did not warrant such a price rise.

Parekh also maybe taking help from professional broking houses in the country to rig the futures market by first accumulating physical stocks in various warehouses.
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