Orbit Corp IPO price band placed at Rs108-117
Mumbai: Real estate developer Orbit Corp. has set a price band of Rs108-117 per share for its initial public offering (IPO) of 90.1 lakh shares. The company is issuing one equity warrant with one-equity share to be converted after 18 months. The issue proceeds will be used for funding acquisition cost of new projects and development cost of existing ones, the company said in a statement.
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Circuit Systems plans public offer
Ahmedabad: Circuit Systems (India) Ltd, manufacturer of printed circuit boards (PCBs) for industrial electronic equipment is coming out with an IPO next month. The company will use the funds to increase its production capacity. The company's existing installed capacity of 1 lakh sq metres of circuit-making would be increased to 1.7 lakh sq metres at a new premises in the Special Economic Zone for electronics at Gandhinagar. The new facility will begin production at the end of 2007-08. The company will invest Rs20.71 crore, of which Rs14.85 crore would be raised through an initial public offering. The company said a Belgium customer will invest Rs1.92 crore while the company would contribute Rs3.93 crore through internal cash accruals. The company has already applied to SEBI and its IPO is likely to come out next month.
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Government considering FDI in commodity exchanges
New Delhi: The government has said it is considering allowing Foreign Direct Investment in commodity exchanges.

Minister of State for Industry Ashwani Kumar told the Rajya Sabha in written reply to a question that FDI up to 100 per cent is permitted on the automatic route in almost all manufacturing activities except defence and cigarettes.

Kumar said FDI was a means to complement and supplement domestic investment and it not only brings in capital but also provides access to modern technology and best practices.
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