23rd February 2005: Indiabulls Financial Services will raise up to $60 million through Global Depository Receipts from the international capital market to fund its working capital requirements. The $60 million GDR will consist of a main green shoe component of up to $45 million and over allotment option of up to $15 million, the company informed the National Stock Exchange (NSE) here on Wednesday. The additional working capital will be used to conduct business, expand the same and undertake new initiatives, which are expected to contribute to the growth of the company, it said. It expects to sustain its current business growth rate of over 100% and is projecting a consolidated net profit of Rs 52.5 crore for FY 2004-05.

19th February 2005: The board of directors of Pantaloon Retail, which met on February 18, 2005, has approved a proposal to acquire 20 lakh shares of Galaxy Entertainment at a premium of Rs 34 per share totaling Rs 8.80 crore. According to a release issued by Pantaloon Retail to the BSE, the acquisition, on a preferential basis, will amount to 15.73% of the paid-up capital of Galaxy Entertainment Corporation. "The company will make an open offer to the share holders of Galaxy Entertainment Corporation as per SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 1997," the release added. While Pantaloon Retail shares closed at Rs 823 on the BSE, Galaxy was locked at its 10% upper limit at Rs 56.65 - a gain of Rs 5.15. The Galaxy counter saw unusually high volume of over 95,000 shares as against the normal 2-week daily average of 36,000 shares.

19th February 2005: Crisil Limited on Saturday said its board had approved the open offer to its shareholders by McGraw-Hill Companies Inc for purchase and transfer of shares. The board members have decided to support the proposed purchase and transfer of shares of the company to The McGraw-Hill Companies Inc or S&P India, to be acquired by making a voluntary open offer to the shareholders, Crisil informed Bombay Stock Exchange.

18th February 2005: After Tata Motors last year, it is the turn of Tata Steel of the Rs 54,000 crore Tata group to be listed abroad. The Tata brass is set on listing the shares of the second largest steel maker in the country either on the New York Stock Exchange (NYSE) or the London Stock Exchange (LSE). “It is important because as a global player it is good to be listed in London or New York. That is something we are thinking about,” said Tata Steel Managing Director B Muthuraman. Muthuraman also said it was uncertain when a decision on this would be made. Tata Motors last year listed its shares on the NYSE by converting its GDRs to American Depository Receipts (ADRs).

18th February 2005: ICICI Bank Ltd has informed BSE that the Bank had issued and allotted 8,771,300 Partly paid-up equity shares of face value of Rs 10/- each issued at Rs 280/- per share on which Rs 150/- had been paid up (Rs 5/- towards share capital and Rs 145/- towards share premium) in terms of the Prospectus dated April 12, 2004. The Balance amount of Rs 130/- (Rs 5/- towards share capital and Rs 125/- towards share premium) was payable on Call.

The Bank had issued a Call Notice dated May 31, 2004 to the holders of partly paid-up equity shares for payment of call money of Rs 130/- per partly paid-up equity share (Rs 5/- towards face value and Rs 125/- towards share premium). The last date for payment of call money was June 23, 2004. The Bank had sent two Reminders dated October 15, 2004 and December 30, 2004 and also issued a Notice of Forfeiture dated January 31, 2005 advising the holders of partly paid-up shares to pay the call money together with interest thereon, on or before March 07, 2005 failing which the equity shares would be liable for forfeiture including the amount already paid thereon.