Kolte Patil Developers will list on stock exchanges today, 13 December 2007. The stock will be placed in the B1 group on BSE. The company had fixed the IPO price at the top end of the Rs 125-145 IPO price band.

A clutch of domestic banks and foreign financial investors (FIIs) picked up around 9% stake in GMR Infrastructure, the flagship company of the GMR group, for around $1 billion through a qualified institutional placement (QIP). The deal is the largest among the recent QIP deals. The investors include State Bank of India (SBI), Canara Bank, Capital International, Citigroup, T Rowe Price, Credit Agricole, UBS and Kotak Mahindra. The deal involves selling part-stake by promoters and issuing fresh shares. Post-issue, promoters holding will be down to 74%, while the public and new investors together will hold the remaining 26%.

As per reports, Three Indian conglomerates GMR Infrastructure ,Tata Power Company and Reliance Energy (REL)are among those who have submitted bids for acquiring one of the three power firms in Singapore valued at about $1.7 billion (Rs6,698 crore), bidding for which closed on Wednesday. Number of international firms submitted indicative bids for the project on the last day.

As per reports Mahindra & Mahindras (M&Ms;) all-Indian utility vehicle, Scorpio, will enter the quality-conscious US market, which is also the largest in the world with 15 million vehicles in annual sales. The company already has firm orders for 45,000 units of Scorpio for the first year, which is more than the 40,000 it sold in India in the last financial year. More importantly, 285 US dealers have signed up to sell the vehicle and are investing $178 million in setting up sales and service outlets.

Glenmark Pharmaceuticals announced before the market hours today, 13 December 2007, that Abbott filed suit in the U.S. District Court for the District of New Jersey, seeking to prevent Glenmark from proceeding with the commercialization of its Trandolapril; verapamil hydrochloride products which is currently marketed by Abbott as Tarka.

IG Petrochemicals announced before the market hours today that company has approved issue of 15lakh share warrants on preferential basis to Financierings Maatschappij voor Ontwikkelingslanden N V (FMO), a Netherlands based developmental financial institution .It will be issued at a price of Rs 77.50 per warrant to be converted into 15lakh equity shares at the face value of Rs 10 per equity share plus Rs 67.50 premium in the ratio of 1:1 (one warrant into one equity share) within a period of 18 months from the date of allotment of warrants

Alchemist Realtys board meeting will be held today, 13 December 2007, to consider issue of bonus shares.

Sundram Fasteners announced after the market hours on Wednesday, 12 December 2007 that it has acquired 100% equity share capital of Upasana Engineering (UEL), a step-down wholly-owned subsidiary of rthe company. Consequent to acquisition of the equity shares, UEL has become a wholly-owned subsidiary of Sundram Fasteners.

HEG announced after the market hours on Wednesday, 12 December 2007 that a board meeting will be held on 20 December 2007, to consider the issue of warrants convertible into equity Shares on preferential basis to promoters, directors and persons acting in concert.

Triton Corp announced after the market hours on Wednesday, 12 December 2007 that a board meeting will be held on 22 December 2007, to consider splitting of equity shares from Rs 2 per share to Rs 1 per share.

Powered byCapital Market - Live News