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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 [...]
November 25, 2010 by | No Comments
The assigned grading reflects MOIL’s dominant position in the Indian manganese ore industry with over four decades of experience in manganese mining and its significant reserves of measured mineral resources of manganese ore CARE assigns ‘CARE IPO GRADE 5’ grading to the IPO of MOIL Limited. The assigned grading reflects MOIL’s dominant position in the [...]
November 25, 2010 by | No Comments
Market regulator Securities and Exchange Board of India is mulling reducing the time line for investors to apply for an Initial Public Offering process through the ASBA model, SEBI chairman CB Bhave said today. Applications Supported by Blocked Accounts (ASBA) is a new system that allows investors to apply for an IPO, keeping the application [...]
November 25, 2010 by | No Comments
The initial public offering (IPO) of MOIL (formerly Manganese Ore India) will open for subscription on November 26. Emkay Global Financial Services has recommended subscribing the issue, in its research report November 24, 2010. MOIL offers 336 lakh equity shares through IPO, which is an offer for sale for cash by The President of India, [...]
November 22, 2010 by | No Comments
Software services provider Zensar Technologies on Monday signed a definitive agreement to acquire US-based PSI Holdings Inc’s unit Akibia for USD 66 million in cash in bid to increase its on-site presence. Massachusetts-based Akibia provides IT services to companies worldwide to help them optimise, manage and support their infrastructure and has more than 900 customers. [...]
November 22, 2010 by | No Comments
Rating agency CRISIL on Monday put 12 microfinance institutions on rating watch with negative implications, saying recent events can damage the business models of these firms. Andhra Pradesh, the hub of India’s microfinance sector, recently enacted rules against aggressive recovery practices by lenders who make loans that average about USD 150 to poor customers at [...]
November 22, 2010 by | No Comments
The government has decided to implement the Nutrient Based Subsidy (NBS) scheme at reduced rates from the next fiscal year. The scheme will see the government reducing subsidy rates by 15-18%. The move is expected to hit complex fertiliser makers, while producers of urea are unlikely to be impacted. NBS for nitrogen is also likely [...]
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