News Flashes

Patni Computer to consider ADR offering in June this year

27th April 2005: Patni Computer Systems Ltd has announced that it is planning an American Depositary Shares (ADS) issue, which is likely to hit the market by second or third quarter of the calendar year. The purpose for this issue is to generate proceeds for construction and development of new infrastructure facilities in India and for other general corporate purposes. The company disclosed that it would register with the Securities and Exchange Commission (SEC) of US, after receiving shareholders' approval. The ADR offering is subject to a number of factors like stock market conditions and the company's and underwriters' decision of an appropriate time. A decision on the number of shares to be tendered is also yet to be taken.

Amtek Auto raises $125 mn via issue of convertible bond

27th April 2005: Auto parts maker Amtek Auto has raised $125 million to repay an existing loan and for general use through the issue of a convertible bond due in 2010. The deal, which has a $25 million greenshoe option, was priced late on Tuesday at par to yield 5.85%, according to the term sheet. The 5-year bonds carried a coupon of 0.5%. The conversion price was set at Rs 209.83 per share, a 25% premium to the volume weighted average price of Amtek shares of Rs 167.864. Shares in Amtek ended 1.25% higher at Rs 170 on Tuesday. Barclays Capital was the sole bookrunner and lead manager for the offering. ICICI Bank and Bank of India were co-lead managers.

Standard & Poor's to become majority shareholder of CRISIL

26th April 2005: CRISIL Ltd has informed BSE that Standard & Poor's has announced that, subject to verification of the shares tendered, the preliminary information received from the Registrar to the offer indicated shareholders of the Company, which is India's leading provider of credit ratings, financial news and risk and policy advisory services, have tendered more shares than the minimum level of acceptance of 2,643,983 shares specified by Standard & Poor's in its offer. Consequently, upon verification of acceptances and completion of remaining offer formalities, including receipt of final approval from the Reserve Bank of India, Standard & Poor's would become the majority shareholder of the Company. Kotak Investment Banking is the exclusive financial advisor to The McGraw-Hill Companies, Inc, and Manager to the offer.

Matrix Labs to raise $200mn via GDRs/ADRs/FCCBs

26th April 2005: The board of directors of Matrix Laboratories, which met today, has approved a proposal to raise up to $200 million by way of GDRs/ADRs/FCCBs. This was announced in a release issued by the company to the BSE today.

UTI Bank's GDR raises $17.7 mn

26th April 2005: UTI Bank Ltd. has raised an additional $17.73 million via its recently floated global depositary receipts issue, the bank told the Bombay Stock Exchange today. UTI Bank said the underwriters to the issue had decided to exercise a greenshoe option to buy a little over 3 million GDRs at $5.91 each. The total size of the issue now stands at 43.49 million GDRs. In March, UTI Bank had raised $240 million through the issue.

Click to view more   1   2   3   4   5   6   7   8   9   10   11   12   13   14   15   16   17   18   19   20   21   22   23   24   25   26   27   28   29   30   31   32   33   34   35   36   37   38   39   40   41   42   43   44   45   46   47   48   49   50   51   52   53   54   55   56   57   58   59   60  




Home | Application Forms | Equity | Flashes | Secondary Market | Mergers & Acquisitions | Taxation | Insurance |
Mutual Fund | SEBI | ESOS | Valuation | Venture Capital | Other Related Sites | Suggestions | Disclaimer | Site Map

Maintained By