FIIs stopped from buying Tata Steel shares
Mumbai: The Reserve Bank of India (RBI) stopped the purchase of Tata Steel shares by foreign institutional investors (FII) as the foreign investment in the world's sixth largest steel maker reached the permissible limit of 22 pc. An RBI a press release said, "FIIs should not purchase further equity shares in the company either through primary or secondary market without the prior approval of the regulator."

The FII interest has continued to increase in the steel giant, though large number of retail investors exited the company following dip in share prices of Tata Steel after the acquisition of Corus.
Back to News Review index page  

CSE shares to be subdivided
Kolkata: The Calcutta Stock Exchange has decided to go ahead with its plan to revise the face value of its shares, from Rs250 to Re1 each. Members of the Exchange have approved a proposal to change the relevant clause in CSE's memorandum of association to facilitate the revision. A notice sent to members had mentioned that the new capital structure is Rs10 lakh divided into 10 lakh shares of Re 1 each.

Calcutta Stock Exchange Association Ltd (Demutualisation) Scheme, 2005, envisages that CSE has to divest a minimum 51 per cent of its shares to the public other than shareholders carrying trading rights.
Back to News Review index page  

Time Technoplast IPO subscribed 49.55 times
Mumbai: The initial public offering of Time Technoplast Ltd, manufacturer of technology based polymer products, has been subscribed 49.55 times on the BSE and NSE. Bids were received across the price band of Rs290-Rs315 per share. A total of 19,43,23,040 bids were received against the issue size of 39,21,500 equity shares. The qualified institutional bidders' portion was subscribed 69.88 times, non-institutional investor's portion was subscribed 72.17 times, retail individual investor's portion was subscribed 12.98 times and the employees portion was subscribed 0.75 times.
Back to News Review index page