Siemens AG to pay interest on original open offer for Bayer Diagnostics
Mumbai: Siemens AG has rescheduled its open offer of Rs19.70 crore to the shareholders to acquire 20 per cent stake in Bayer Diagnostics India Ltd. Siemens will pay interest over the original offer of Rs629.45 to compensate for the delay in implementing the open offer, which was scheduled to be completed by September 2006. Siemens would pay an interest of Rs38.63 per share taking its total payment to Rs21.53 crore for the offer, the company informed the Bombay Stock Exchange. The open offer is part of Siemens' takeover deal for Bayer's global diagnostics business.

A total payment of Rs668.08, comprising of Rs629.45 as the offer price and Rs38.63 as interest due to delay, will be thus made for each fully paid up equity share of Bayer Diagnostics India already tendered and accepted under the offer.

The offer would now open on April 6 and close on April 25, it said. The interest was computed at the rate of 10 per cent per annum for the period from September 29, 2006, the original scheduled date of payment of consideration to May 10, the revised scheduled date of payment of consideration (both days inclusive), it said. The other terms and conditions of the offer remain unchanged.

As per the open offer Siemens AG, would acquire up to 3.13 lakh equity shares of Rs 10 each representing up to 20 per cent of the outstanding voting equity share capital of Bayer Diagnostics.
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Magma to raise $15mn from finance co in Netherlands
Kolkata: The board of Magma Leasing Ltd (Magma) approved placement of $15 million (approximately Rs65 cr) of redeemable preference shares to the Netherlands Development Finance Company (FMO), Netherlands. The fresh investment, as per RBI guidelines, will be treated as Tier-2 capital in the company. This follows an earlier investment of Rs21 crore by FMO in Magma Preference shares during February 2006. FMO, with an investment portfolio of 2.4 billion, invests risk capital in companies and financial institutions in developing countries.
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UTI Gold ETF raises Rs140 crore
Mumbai: Gold Exchange Traded fund has raised Rs140 crore by its new fund offer period (NFO) from March 1 - 16, said Jaideep Bhattacharya, chief marketing officer, UTI Mutual Fund. The fund will be listed on the NSE on either April 9 or April 10.
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Ammana Bio plans Rs22 crore public issue
Mumbai: Ammana Bio Pharma, which manufactures ethanol, will enter the capital market with an initial public offering of equity shares aggregating Rs21.66 crore through 100 per cent book building process. The price band has been fixed between Rs12 and Rs14 per equity share of face value of Rs10 each.

The issue opens on March 28 and closes on April 5. The company with an existing capacity to manufacture 90 million litres of ethanol per annum, currently produces 30,000 litres of ethanol per day. It proposes to expand the existing facilities to produce 30,000 litres per day of extra neutral alcohol along with ethanol. It has received orders from HPCL and BPCL for supply of ethanol.
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