M&M sets new schedule for open offers
New Delhi: Mahindra & Mahindra has set a new time schedule for its open offers to buy 20 per cent stake each in Punjab Tractors and Swaraj Engines.
The two separate open offers now open on May 28 and close for subscription on June 16, the manager to the offer Kotak Mahindra Capital Company said.

M&M, which proposes to carry out the transactions along with its subsidiary Mahindra Holdings and Finance, had offered to buy 1.21 crore PTL shares at Rs360 per share. The open offer price to the shareholders of Swaraj Engines was Rs151 per share.
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Decolight IPO opens May 24
Mumbai: Manufacturer of vitrified ceramic tiles, Decolight Ceramics plans to enter the capital market by issuing equity shares of Rs10 each at a price band of Rs45-54 per share through a 100 per cent book building process. The issue opens on May 24 and closes on May 29.

The objective of the issue is to raise capital to finance its expansion, which includes raising capacity of vitrified tiles from 6,000 sq. m to 12,000 sq. m per day. The company also proposes to set up two wind generators having a capacity of 1.25 MW and 2.1 MW each.

Post-issue, the promoters share would come down to 50 per cent.
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Sebi bans MOH from market for two years
Mumbai: The Securities and Exchange Board of India (Sebi) has banned Ahmedabad-based IT company MOH from operating in the stock market for two years because of its involvement in fraudulent activities.

Sebi said the "committed fraud on shareholders of MOH Ltd by issuing a misleading advertisement after the preferential allotment and subsequently withdrawing the promise given in the said advertisement," it said in its order. It added that MOH also 'deceived' its investors by offloading the shares in the secondary market, it said.
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UB group may list Whyte & Mackay on LSE
Mumbai: The UB Group might list the newly-acquired Scottish whisky maker Whyte & Mackay on the London Stock Exchange (LSE).

Vijay Mallya, chairman, UB Group however, did not give any time-frame for the listing.

He added that Whyte & Mackay would remain a 100 pc subsidiary of the UB Group and he had no plans to change the management.

The acquisition is being financed through loans from ICICI Bank ($325 million), Citibank ($310 million) and through sale of United Spirits treasury stocks.
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