SEBI signs deals with Thailand, Nigeria SECs
Mumbai: Securities and Exchange Board of India (Sebi) has signed MoUs for regulatory co-operation, mutual assistance and sharing of information with securities markets regulatory authorities of two countries, The Securities and Exchange Commission of Thailand and the Securities Exchange Commission of Nigeria.

The MoUs were signed on the occasion of the 32nd IOSCO annual conference held in India for the first time today.
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AIG Global AMC to offer stock picks from MF arm
Mumbai: Parent AIG Global Investment Group, a Sebi-registered foreign institutional investor, will put its money in stocks which are in the portfolio of its mutual fund arm, AIG Global Asset Management Company, the world' largest institutional asset manager.

AIG would be launching its first equity diversified scheme, AIG India Equity Fund, very soon. The AMC has already filed its draft application with the Securities and Exchange Board of India and expects to launch the fund by May.

The global investor, who entered the country through its private equity business in 1997, has interests in real estate and consumer finance business. It also has an offshore development centre with around 500 employees and an insurance joint venture with the Tatas.

AIG would also replicate its global research standards for the Indian business. Its equity platform for investment communications system brings its research analysts on a single platform. This would be used by the fund managers.
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Cairn Energy to return part of IPO proceeds to British shareholders
New Delhi: UK-based Cairn Energy, the parent firm of Cairn India, has announced plans to return part of its IPO proceeds to its British shareholders.

The company said it has made a Future Purchase Offer to the shareholders to purchase the 28,74,153 'B shares' at a price of 3 pound each.

The Oil exploration major had raised over Rs5,000 crore through the initial public offer of Cairn India, which was listed on the Bombay Stock Exchange and National Stock Exchange.

'B shares' have partial ownership rights and the shareholders of such shares may or may not be certificated form. The 'B shares' were issued to shareholders earlier as a means of returning cash to investors after Cairn Energy raised funds in India through IPO of its subsidiary Cairn India.

Settlement of the purchase of the 'B shares' purchased under the Future Purchase Offer would be made on 16 April 2007, it said.

Cheques would be dispatched to shareholders whose 'B shares' are held in certificated form, while those holding shares in uncertified form would be credited with the proceeds of sale, it added.
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Hathway acquires 39-pc stake in ING Vysya MF
Mumbai: Hathway Investments, owned by the Rajan Raheja group, has bought out ING Vysya Bank's entire 39 pc stake in ING Vysya Mutual Fund for an undisclosed sum.

Following the deal, ING will hold 42.5 pc stake in the fund, which will be renamed ING Mutual Fund, Hathway 39 pc and existing Indian shareholder-Kirti Equities-will hold 18.5 pc. The asset management company's (AMC) total assets under management as on March 31, '07, were close to Rs3,630 crore.

For the year ended March '06, the AMC has reported a net loss of Rs21 crore which could have depressed the valuation of the fund house, which usually ranges from 4-6 pc of assets.
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Sharekhan may sell stake to PE players
Mumbai: Sharekhan, the retail broking arm of the Mumbai-based SSKI Group, is planning to raise funds from private equity companies by selling part stake.

A few private equity players are already said to have started due diligence on Sharekhan, which may dilute close to 15 per cent stake. Shripal Morakhia, promoter of Sharekhan, said.

At present, the Morakhias hold 37 per cent stake in Sharekhan, while its employees hold 15 per cent and the rest is held by General Atlantic, Intel Capital and a group of funds advised by HSBC Pvt Equity India.

Sharekhan is looking at expanding its presence in the country through organic growth. It is among the top five retail brokerage outfits in the country with over 100 branches across 150 cities.
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Fortis Healthcare issue opens on April 16
Chennai: Fortis Healthcare's public issue is scheduled to open on April 16 and close on April 20. The Ranbaxy promoter group company is entering the capital market with an IPO of 45,996,439 equity shares of Rs10 each through a 100 per cent book building process. The price band has been fixed between Rs92 and Rs110 per equity share.

Fortis' shares are to be listed on the BSE and NSE.
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Hilton Metal plans public issue
Mumbai: Hilton Metal Forging, which specialises in forged items for various sectors, will enter the capital market with a public issue of 54.5 lakh equity shares of Rs10 each at a premium of Rs70 per equity share.

The issue will open on April 18 and close on April 24. The company will offer 5,000 equity shares to Centrum Capital Ltd (a lead manager to the issue) at Rs70 each, with the net issue to the public being 54.45 lakh equity shares.

The public component will constitute 43.8 per cent of fully diluted post issue paid-up capital of the company. The company plans to raise about Rs38.15 crore to partfund the installation of additional plant and machinery in Thane district, setting up of new buildings there for in house die shop/tool room, heat treatment shop and laboratory to manufacture largesized components for the company's clients.
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StanChart Bank to enter securities broking
Kolkata: Standard Chartered Bank is eyeing a stake in UTI Securities and plans to establish a presence in the securities broking space even if it unable to acquire a stake in UTI SEC.

A number of banks are in the race for the UTI Sec stake held by the Securities Trading Corporation of India (STCI). Citi, which also has a strong presence in the banking sector, is believed to be one of the players eyeing UTI Securities.

STCI had last year taken over UTI Securities for Rs265 crore from Specific Undertaking of Unit Trust of India.

Standard Chartered Bank has also started acquiring small stakes in select private sector banks as part of its investment strategy.

While the bank is not ready to reveal the identities of the outfits that it has bought into, SCB plans to continue to pursue the strategy.
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