Heidelberg gets reprieve from SAT
Mumbai: Heidelberg Cement has received a temporary reprieve with the Securities Appellate Tribunal (SAT) allowing it to go ahead with its open offer to shareholders of Mysore Cements, pending a final order.

SAT has, however, said that if its order was not in favour of Heidelberg, the cement company will have to pay the difference amount of Rs14.50 per share.

Heidelberg had earlier this month approached SAT against a SEBI directive for raising its open offer price to shareholders of Mysore Cements by 25 per cent.

The SEBI directive meant Heidelberg would have had to pay the shareholders Rs72.50 per share against its open offer of Rs58 per share, a difference of Rs14.50 per share.
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Hindustan Lever de-lists from RSEs
Mumbai: Hindustan Lever has delisted its securities from Bangalore Stock Exchange, Ahmedabad Stock Exchange, Delhi Stock Exchange, Madras Stock Exchange, GauhatiStock Exchange, Calcutta Stock Exchange and Cochin Stock Exchange.
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Sical Logistics to raise $50 m
Chennai: Sical Logistics' Board of Directors had decided to issue equity shares to qualified institutional bidders for $50 million (Rs225 crore).

"The Board of Directors also decided not to pursue the issue of balance amount to the extent of $50 million by way of FCCBs/GDRs as envisaged in the EGM Notice dated March 2, 2006 and as approved by the shareholders at their extra-ordinary general meeting held on March 29, 2006," a notification to the stock exchange said.
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Zee's demerged shares to start trading from Dec 18
New Delhi: Zee Telefilms' demerged shares, after hiving off the news and cable businesses, will start trading on the stock exchanges from December 18 while the new entities would be listed in January.

As per the scheme of demerger approved by the Bombay High Court, ZTL has demerged its cable undertaking into Wire & Wireless India Limited (WWIL) and the regional and news broadcasting undertaking into Zee News Ltd (ZNL).

The appointed date for the demerger was March 31 and the scheme became effective on November 22, the company said, adding that the book closure date for determining eligibility for issuance of equity shares would be from December 24 to 28. Shareholders of ZTL would receive 45 shares of ZNL and 50 shares of WWIL for every 100 shares held in ZTL.

The demerged ZTL (including the Direct Consumer business undertaking) would continue to trade on the stock exchanges. A separate record date would be announced for the demerger of Direct Consumer Business of ZTL into ASC Enterprises Ltd, to be r enamed Dish TV India Ltd, ZTL said.
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