BSE sells 51 pc stake to 21 investors
Mumbai: Bombay Stock Exchange (BSE) has been demutualised after selling its 51 per cent stake to 21 investors. The BSE shares were sold at Rs5,200 apiece valuing the exchange at nearly $1 billion. Some of the buyers include high net worth individuals Kris Gopalakrishnan and N S Raghavan of Infosys Technologies.

The 800-odd brokers in BSE sold nearly half their shareholding, constituting 41 per cent equity stake in the exchange.

The list of investors includes six foreign entities, including Deutsche Boerse and SGX, which bought 5 per cent each recently, paying Rs189 crore each.

The other foreign investors in the deal are US private equity fund Atticus Mauritius Ltd and Caldwell Asset Management. Both are buying 4 per cent in the exchange.

The other two foreign investors are Dubai Financial and Katrel Investment Ltd, Cyprus. Together, these four overseas investors have picked up 16 per cent in BSE.

Foreign direct investment in an Indian stock exchange is capped at 26 per cent, with no single entity allowed to buy more than 5 per cent.
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HDFC Mutual launches mid-cap fund
Mumbai: HDFC Mutual Fund has launched a three-year, close-ended scheme, HDFC Mid-cap Opportunities Fund. The scheme will automatically become open-ended on maturity. The new fund offer opens on May 7 and closes on June 8. The investment objective is to generate long-term capital appreciation from a portfolio that substantially consists of equity and equity-related securities of small and mid-cap companies, said a statement from the company.

It will also provide growth and dividend options in each plan. The fund will have an equity component of between 75 per cent and 100 per cent. Investment in the debt and money market securities will be in the range of 0-25 per cent. During the new fund offer period, the fund will not charge entry or exit loads. Minimum investment for individual investors is Rs5,000, said a press release.
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Lotus Contra fund SIP waives off entry load
Mumbai: All investments in Lotus India Contra Fund through a Systematic Investment Plan will not attract any entry load starting from May 15, according to an official release from Lotus India AMC. Additionally, the minimum SIP amount has been brought down to Rs100 per month.
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Oswal Woollen public issue gets approval
New Delhi: Oswal Woollen Mills, a Nahar Industries group company received regulatory approval for its proposed public issue of up to 83.2 lakh shares of Rs10 each through the book building route, a company release said here.

The net issue will constitute 25.05 per cent of the fully diluted post-issue capital of the company.

The company plans to utilise the proceeds from the issue for expanding its existing capacities, the company said in a release.
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Shiva Cements shareholders approve investment by ACC
Mumbai: ACC has received approval from the shareholders of Shiva Cement to pick up a significant stake through a combination of preferential issue of equity shares and share warrants in the company.

ACC would invest up to Rs40.92 crore through a preferential issue consisting of 1.45 equity shares and a separate preferential allotment of 2.27 crore equity share warrants, as per the decisions approved by the shareholders of the Orissa-based company at the Extra-Ordinary General Meeting held today.

ACC would subscribe to the securities having a face value of Rs2 each at a premium of Rs9 per share or warrant, Shiva Cement said in a communique to the Bombay Stock Exchange.

While the preferential issue of shares would raise up to Rs15.95 crore, the share warrants would raise another Rs24.97 crore.
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