Mercator bonus issue
Mercator Lines has announced bonus issue in the ratio of 3:2, or three bonus shares for every two shares held, besides increasing the authorised share capital to Rs 35 crore from Rs 25 crore by creating an additional 10 crore equity shares of Rs 1 each. The board has also proposed to raise $75 million through ADRs or GDRs or foreign currency convertible bonds. It has also approved increasing FII investment limit in the company up to 70 per cent of the paid-up equity capital.
TTK Prestige has launched in Guwahati its new line of inner-fitting handi pressure cooker, Nakshatra, featuring the highest level of safety systems. The product has a three-stage safety system of patented resettable safety device, a metallic safety plug, and the pressure regulator (weight or whistle).
Videocon has launched its Konzerve series of fully automatic, seven 'advanced digital sensi logic' series of washing machines and a new series of refrigerators and microwave ovens. The company has come out with a new range of direct cool refrigerators and nine new models in 215-litre and 180-litre capacities. It has introduced.
Glenmark Pharmaceuticals has launched its $30-million foreign currency convertible bonds issue. The bonds, which have a maturity of five years, are convertible into the equity shares at a price of Rs 317.25 per share at the option of the bondholders, the company has informed stock exchanges. The bonds are expected to be listed on the Singapore Stock Exchange.
Perot Systems will raise its India headcount by 1,500-1,800 in 2006, maintaining a growth of 25-30 per cent. The company has 6,000 employees on its rolls. Perot Systems has also launched infrastructure management operations from its Noida and Bangalore facilities.
Murli Agro Products has decided to invest Rs 900 crore in Maharashtra over the next three years by setting up a 2-million-tonne greenfield cement unit with 30-mw captive power plant in Chandrapur district. The first phase of the project will be completed by February 2008.
Nagarjuna Construction Company has allotted 2.05 crore equity shares underlying the global depository receipts, which were issued at $5.11 each. Each GDR represents one underlying equity share of Rs 2 each. The company has raised $105 million (Rs 479.1 crore) from the GDR issue.
Lupin has got the USFDA approval for its cefprozil oral suspension of 125mg/5ml and 250mg/5ml. Cefprozil is the generic equivalent of Bristol Myers Squibb's cefzil.