Reliance Capital buys 11.93 per cent in TV Today
Mumbai: TV Today Network said on Thursday that Reliance Capital has bought 6.9 million shares, or 11.93 per cent stake in the company. The stake was bought from Sonata Investments Ltd. at Rs127.75 a share, totalling Rs88.14 cr ore, according to data released to the Bombay Stock Exchange.
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Pritish Nandy defers preferential issue
Mumbai: Pritish Nandy Communications has informed BSE that the pricing of proposed equity shares warrants to be allotted to Artinvest India Pvt Ltd and Ideas.com India Pvt Ltd, entities belonging to the promoter group under Chapter XIII of SEBI (DIP) Guidelines, 2000 is based on the price to be determined under the company's Qualified Institutions Placement (QIP), which is yet to open. Thus, the allotment of the aforesaid share warrants cannot be done till the QIP price is discovered. The company has thus deferred the proposed issue of preferential share warrants.
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Oil India IPO by October
New Delhi: Oil India plans to tap the capital market by October this year. The company has proposed a 10 per cent float to the Government and hopes to get the mandatory approvals by March-April this year. The company expects to collect at least Rs1,500 crore through the IPO. The government currently owns about 98 per cent equity stake in the unlisted OIL. The proceeds from the IPO would be used for the company's exploration and production activities for the next five years. OIL is looking at acquiring small to medium-sized exploration and production companies in Africa, West Asia, Asia and South America.

The company also plans to invest Rs15,000 crore in the next five years in its core competence of oil and gas exploration and production and another Rs2,000 crore in its downstream forays into refining.
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Birla to hike stake in Hindalco
Mumbai: Kumar Mangalam Birla chairman Aditya Birla Nuvo is planning to raise the promoter stake in flagship company Hindalco Industries.

Industry sources said while Birla would scale up his stake from 26.79 per cent, the company would improve its debt-equity ratio through the offer.

Hindalco's debt is expected to go up after the acquisition of Atlanta-based aluminium downstream company Novelis for an enterprise value of $6 billion (Rs27,000 crore).

Analysts said Indian promoters had been scaling up their stakes to take their companies beyond the reach of predators.
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PAN to replace MIN today
New Delhi: The Permanent Account Number (PAN) will replace the Mutual Fund Identification Number (MIN), from March 2 according to the Association of Mutual Funds of India chairman A P Kurien.

MIN was earlier this year was made mandatory for mutual fund investments worth over Rs50,000.

Finance Minister P Chidambaram had in his Budget speech yesterday proposed making PAN the sole identification number for all participants in securities market.

About 2,00,000 mutual fund investors are estimated to have already been allotted MIN, which was introduced in January as an enhanced KYC measure to comply with regulatory norms.

Those investors, who have already been allotted MIN, need not provide their PAN details afresh.
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