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December 20, 2010 by | No Comments
Reliance Industries’ prolific D-1 and D-3 gas fields off the East Coast, which have seen a 15 per cent drop in production in recent times, are likely to touch a peak output of 80 million standard cubic metres per day in 2012-13. According to a Directorate General of Hydrocarbons (DGH) report to the oil ministry, [...]
December 20, 2010 by | No Comments
Tata Chemicals said on Monday its unit has signed a binding agreement to acquire 100% stake in British Salt for 93 million British pounds. British Salt is a UK based maker of pure dried vacuum salt and has a market share of 50% in the UK, it said in a statement. British Salt owns brine wells in [...]
December 20, 2010 by | No Comments
Tata Steel, the world’s No 7 steel maker, is in talks to sell its South African assets to raise more than USD 150 million, the Economic Times reported on Monday citing a source it did not name. Standard Chartered’s India investment banking team has the mandate to select a potential buyer, the report added. A [...]
December 6, 2010 by | No Comments
Bhushan Power and Steel Group is planning a 450 million pound (USD 710 million) flotation next year after appointing investment banks JPMorgan Chase and Credit Suisse to oversee it, British newspaper Mail on Sunday reported. Officials at the company’s headquarters in New Delhi could not be immediately reached to comment on the report. Source: – Moneycontrol
December 6, 2010 by | No Comments
ICICI Bank said on Saturday it will raise its benchmark prime-lending rate by 50 basis points effective December 6. The bank will also raise interest rates for various tenors of retail fixed deposits by 25-50 basis points from December 6, it said in a statement. Source: – Moneycontrol
December 6, 2010 by | No Comments
The Munjal Family is likely to present a new royalty deal to the Hero group this week where the final royalty agreement is likely to be discussed. The board of Japanese automaker Honda motors is said to have approved of the royalty price. It is essential that the board’s of both companies approve of the [...]
November 30, 2010 by | No Comments
Follow-on public offer (FPO) of Shipping Corporation of India (SCI), one of India’s largest shipping companies in terms of Indian flagged tonnage, has opened for subscription today. It has set a price band at Rs 135-140 a share for its FPO of 8,46,90,730 equity shares. The issue comprises of a fresh issue of 42,345,365 equity [...]
November 30, 2010 by | No Comments
MOIL’s (formerly Manganese Ore India) initial public offering (IPO) has received overwhelming response from qualified institutional investors (QIBs). The issue, which closes tomorrow, has subscribed 12.4 times so far, reports CNBC-TV18. Reserved portion of QIBs, which closes today, was subscribed 20.19 times. The issue has received bids for more than 38 crore equity shares as [...]
November 30, 2010 by | No Comments
Follow-on public offer (FPO) of Indian Bank will hit market by June 2011, Chairman of the bank T M Bhasin said. The bank will raise Rs 1600 crore via FPO and will dilute equity by 10%. It is going to file draft red herring prospectus (DRHP) by April 2011, Bhasin informed. Additionally, the bank will also raise Rs [...]
November 25, 2010 by | No Comments
The government has fixed a price band of Rs. 340-375 a share for raising up to Rs. 1,238 crore through initial sale of shares in Manganese Ore India Ltd (MOIL). Incorporated as Manganese Ore (India) Limited (MOIL Limited) in 1962, MOIL Ltd. is one of the largest producer of manganese ore (largest in FY08 by [...]
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