Varun Shipping makes pref allotment to FIIs
Kolkata: Varun Shipping has obtained shareholders' nod for its proposal to issue shares on preferential basis at Rs75 each (Rs65 as premium) and to issue optionally convertible warrants (OFCW) to raise a total of around Rs500 crore.

Among the FIIs - Calenonia Investments plc will get 1.51 crore shares, while Sofina SA is proposed to be issued 16.5 lakh shares. Kotak Mahindra UK's sub-account ICG Q Ltd is to get 12 lakh shares. Societe General is also slated to be issued another 12 lakh shares.

IL&FS Trust Co through IL&FS Pvt Equity Trust - Leverage Fund will pick up 15 lakh shares of Varun at the same pirce.

A promoter group company - Khatau International - is proposed to get a preferential allotment of 13.87 crore shares.

The promoter outfit will also be issued 39.50 lakh OFCWs. This instrument may be converted within a period of 12 months from the date of issue.

Each warrant will be equivalent of one equity share of Rs10. The total consideration for OFCWs on conversion would be Rs75 each.
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XL Tele IPO gets subscribed 8.7 times
Mumbai: The IPO of XL Telecom Ltd has been subscribed 8.68 times on the BSE and the NSE at 7.00 pm today. The company had offered 39.56 lakh equity shares of Rs 10 each at a price to be determined through the book building process.

Bids have been received across the price band of Rs125-Rs150. All the categories including QIB, non-institutional investors and retail individual investors were oversubscribed at 5.00 pm.

The QIB portion was subscribed 9.8 times, non-institutional investor portion by 10.89 times and the retail portion by 7.10 times.
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Ansal Properties plans equity allotment to QIBs
Mumbai: Ansal Properties & Infrastructure plans to consider on December 12, allotting 67.5 lakh shares at Rs1,010 per share to qualified institutional buyers (QIBs).
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DBS Chola to pay Rs2 per unit dividend in equity fund
Mumbai: DBS Cholamandalam Asset Management will pay a dividend of Rs2 per unit in its equity scheme DBS Chola Growth Fund and has fixed December 12 as the record date.
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DSP Merrill Lynch to pay dividend on fixed term fund
Mumbai: DSP Merrill Lynch Fund Managers will pay a dividend of Rs0.47 per unit in its DSP Merrill Lynch Fixed Term Plan Series 3 and has fixed December 10 as the record date.
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