IOB global listing

Chennai, March 10: The board of Indian Overseas Bank today approved the bank?s plan to raise its equity capital by $250 million through a GDR issue. ?The board of directors in its meeting held today considered raising the equity capital overseas and listing them on overseas exchanges and approved the proposal, which is subject to necessary approvals from appropriate authorities,? it said in a communiqu? to the Bombay Stock Exchange.

Ranbaxy stake

New Delhi, March 10: Promoters of Ranbaxy Laboratories Limited, Malvinder Mohan Singh and Shivinder Mohan Singh, have increased their stake in the company to 25.59 per cent by acquiring another 2 per cent through Ranbaxy Holding Co, which is under their control.

OBC offer

New Delhi, March 10: Oriental Bank of Commerce will file the draft red herring prospectus with the Sebi on March 12 for its public offer for raising close to Rs 2,000 crore capital in April.

IFB issue

Calcutta, March 10: IFB Industries, the home appliances major, would issue 11,30,000 shares to its promoters on a preferential basis, it informed the stock exchanges.

LSE view

New Delhi, March 10: Western investors are keen on investing in the shares of growing Indian companies, said Martin Graham, director of market services at the London Stock Exchange (LSE). He invited more domestic firms to raise capital from the world?s premier bourse.