DLF gets SEBI approval for IPO
New Delhi: Stock market regulator SEBI has approved the initial public offer (IPO) plan of real estate giant DLF through which it is expected to raise a record Rs13,600 crore. The company had filed a renewed prospectus in January this year after its first attempt did not work out due to certain regulatory objections over minority shareholders' complaints against the company. It had filed its first prospectus in May 2006, which it had to withdraw in August same year.
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Barclays, HSBC, Citi eye stake in Phoenix Mills
Mumbai: HSBC Financial Services, Americorp Ventures, Barclays, and Citi among others are looking to pick up equity stakes in the real estate firm Phoenix Mills through a preferential issue.

According to Monday's closing price of Rs1721.55 per share, the 23.85 lakh share preferential issue could raise over Rs400 crore, if shareholders of Phoenix Mills and other statutory bodies approve the issue.

As per the special resolution which the shareholders would consider by way of a postal ballot, Citigroup Global Markets is proposed to be allotted 8.66 lakh shares, followed by HSBC Financial Services (Middle East) with 4.15 lakh shares and DWS Invest Bric with 3.20 lakh shares, according to data available in a communique to the Bombay Stock Exchange.

Americorp Ventures (3 lakh shares), Rhodes Diversified (2.62 lakh shares), Barclays Mauritius (1.31 lakh shares) and another Mauritius-based entity DB Fund (90,000 shares) are also proposed to be allotted stakes in the preferential issue.

Phoenix Mills is also seeking shareholders' approval to raise funds through placement of shares (in one or more tranches) to Qualified Institutional Buyers, for up to Rs1,000 crore, subject to necessary provisions and approvals.

The results of the postal ballot would be announced on May 26. Back to News Review index page  

Bosch Chassis Systems announces bonus issue
Mumbai: Bosch Chassis Systems India, a subsidiary of Germany-based Bosch Group, on Monday has announced a bonus issue in the ratio of 1:1.

The bonus issue would increase the company's paid up share capital to Rs20.79 crore from the existing Rs10.39 crore.
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Lotus MF offers fixed maturity plans
Mumbai: Lotus India Asset Management Co. has launched two close-end debt funds, namely Lotus India Fixed Maturity Plan-3 Months-Series VII and Lotus India Fixed Maturity Plan-13 Months-Series III. The funds would invest in debt and money market instruments and close for subscription on May 9 and May 17, respectively. The funds would not charge any entry load but would levy an exit load of 0.75 per cent and 2 per cent respectively, for redemptions before maturity, the fund house said. The fund house managed assets worth about Rs2,100 crore at the end of April, data from Association of Mutual Funds in India showed.
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