3i Info to issue € 30mn FCCB
Mumbai: 3i Infotech has issued Foreign Currency Convertible Bonds (FCCB) priced at € 30 million (Rs 174 crore). The funds raised will help the company in its acquisition plans.

3i Infotech is looking at acquiring companies in the US, UK and other countries in the banking-financial services-insurance vertical in the next 18 months.

The FCCB issue will be convertible over a five-year period at a conversion price of Rs 308.63 and will be listed on the Singapore Stock Exchange, a news release from the company said. The conversion price of the zero coupon bonds is at 25 per cent premium to the company's closing share price on BSE as on March 26, the statement said.
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Dunlop India rights issue opens on April 2
Kolkata: Dunlop India is coming out with a rights issue of six shares at Rs 10 each for every 10 existing shares of the company. The rights issue will open on April 2 and close on April 6. The shares will be allotted on April 14.

Earlier, the BIFR had allowed the company to go for the rights issue of 2.7 crore shares by April 15. However, the company's proposed open offer is postponed till further notice due to non-availability of SEBI approval on its draft proposal. The open offer — which was earlier forced upon the company by SEBI — was scheduled to open on March 24.

Dunlop shares were last traded at Rs 6.60 per share on the BSE on April 15, 2002, below the par value of Rs 10.
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Sebi rejects NSE's tie-up with regional SEs
Vadodara: The Securities and Exchange Board of India (Sebi) has rejected NSE's proposal for a tie-up with regional stock exchanges (RSEs) including Chennai, Ahmedabad and Ludhiana stock exchanges and the Interconnected Stock Exchange. Apart from offering direct membership to them, NSE was also proposing to offer a separate trading platform for smaller companies which are listed only on the RSEs, but are not traded currently. NSE's aim was to aggressively spread its reach ahead of its rival BSE.

Nine regional bourses had signed memoranda of understanding with NSE in October last year. These exchanges had sought the approval of market regulator for trading in another exchange.
This rejection by Sebi has come as a big shock for the RSEs as the tie-up with NSE would have enabled them to significantly increase their trading volumes. Many smaller scrips on the RSEs, which have not been trading for long, would also have got a separate trading platform on the NSE.

Sebi has given no reason as to why it rejected this tie-up angry ASE brokers said. They said RSEs can take Sebi to court on this issue, but as NSE would never join them, they cannot take such a step now.
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