CORPORATE NEWS
BHARATI
In a move that could have implications for the
talks between Bharti and South Africa's MTN
for a cash-and-share-swap deal, the Securities
and Exchange Board of India (Sebi) today
decided to amend the Takeover Code to
mandate an open offer if American Depository
Receipts (ADRs) and Global Depository Receipts
(GDRs) with voting rights cross the prescribed
threshold.
Oil and Natural Gas Corporation (ONGC),
wants to hire an ultra deep-sea drill rig, the
daily cost of which is about Rs 5 crore. This is to
improve exploration in the western offshore
blocks.
After a series of flip-flops, NTPC is likely to
finally sign an agreement with Reliance
Industries Ltd (RIL) this week to buy
government alloted natural gas at an officially
approved price of $4.20 per mBtu.
Cipla will sell about four per cent of its equity to
institutional investors to raise close to $175
million (Rs 840 crore) to fund its capital
expansion plans.
Dewan Housing Finance (DHFL)
has raised Rs 250 crore through private placement of debt
and plans to raise another Rs 500 crore through
private placement of non-convertible debentures
(NCDs) in the current financial year.
Kingfisher Airlines
plans to raise up to 175 million dollars (about Rs 840 crore) before
March next year through rights issue and global
depository receipts (GDR).
Pipavav Shipyard
has fixed the issue price of its initial public offer (IPO) at Rs 58, a little less
than the upper end of its price band.
Gati will raise a total of over Rs 78.91 crore by
issue of warrants to different promoters and The
Infrastructure Fund of India LLC.
In a move that could have implications for the
talks between Bharti and South Africa's MTN
for a cash-and-share-swap deal, the Securities
and Exchange Board of India (Sebi) today
decided to amend the Takeover Code to
mandate an open offer if American Depository
Receipts (ADRs) and Global Depository Receipts
(GDRs) with voting rights cross the prescribed
threshold.
Gati will raise a total of over Rs 78.91 crore by
issue of warrants to different promoters and The
Infrastructure Fund of India LLC.and South Africa's MTN
for a cash-and-share-swap deal, the Securities
and Exchange Board of India (Sebi) today

Gati
will raise a total of over Rs 78.91 crore by
issue of warrants to different promoters and The
Infrastructure Fund of India LLC.