SMS Pharma IPO price set at Rs380 a share
Mumbai: Hyderabad-based drug maker SMS Pharmaceuticals has priced its initial public offering at Rs380 a share, which is at the top end of its price band.

The company's 2.58-million-share issue which is expected to raise Rs98.04 crore was subscribed 2.64 times, according to an investment banker at UTI Securities, the issue's book-running lead manager.

The retail segment was subscribed 2.5 times while the qualified institutional buyer segment was subscribed 3.5 times.
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Ansal Properties board approves 1:1 bonus
Mumbai: Real estate developer Ansal Properties & Infrastructure said its board had approved issuing one bonus share for every share held in the company.
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Oracle picks up 82.92 per cent shares in i-flex through open offer
Mumbai: Oracle Corporation has acquired 28.03 per cent shareholding in i-flex as against the proposed 34.89 per cent in the open offer to shareholders of the banking software solutions company.

After the open offer, the shareholding of Oracle Global (Mauritius) and Oracle Corporation stands at 82.92 per cent representing 67,481,698 shares - which is seven per cent less than the proposed 89.69 per cent stake equivalent to 72,985,730 shares.

DSP Merrill Lynch, the manager to the offer, on behalf of Oracle Global (Mauritius) Ltd said the response to the offer was less than the revised offer size of the 2.83 crore fully paid-up equity shares of i-flex.

Oracle had made a final offer of Rs2,100 per share to the shareholders for increasing its stake to 90 per cent in the domestic company.

In August 2005, Oracle had acquired 41-per cent stake in i-flex from Citigroup Venture Capital International at Rs800 a share and launched an open offer to buy an additional 20 per cent at Rs882.62 per share.
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Vodafone offloads 5.6-per cent stake in Airtel to Bharti for $1.6 billion
London: After picking up Hutchison Telecom's stake in telecom player Hutch UK telecom giant Vodafone has offloaded its 5.6 per cent stake in Bharti Airtel to promoter Sunil Mittal's group for $1.6 billion.

The deal was made on a deferred payment basis.

Mittal said he was pleased to welcome Vodafone and congratulate them on their Hutch acquisition.

He said that Bharti and Vodafone have enjoyed a very fruitful relationship and both the companies will work with the Industry to connect millions of people across India.

Vodafone while offering to sell its direct holding in Bharti said in a statement that it would retain its 4.4 per cent indirect interest in Bharti underpinning its ongoing relationship.
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Raj TV to float IPO
New Delhi: South based Raj Television Network is planning to tap the capital market through an initial public offer (IPO) to raise about Rs 91 crore for part funding its expansion plans.

The company said the IPO would consist of 35 lakh shares of face value of Rs10 each and would be in the price band of Rs221-257. After the issue the promoters' stake in the company would be reduced to 72.5 per cent from the present 100 per cent.

The issue, which opens for subscription on February 14 and closes on February 23, would constitute 27.5 per cent of fully diluted paid up capital of the company. The shares would be listed on BSE and NSE.
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