BoR rights issue
Mumbai, Jan. 18: Bank of Rajasthan Ltd today said it would issue shares on a rights basis in the 1:5 ratio. The bank will issue one share for every five shares held by shareholders at a price of Rs 50 apiece, it informed the BSE. Each share will also be attached with five warrants, entitling the warrant-holders to subscribe for a share at a discount of 15 per cent to the average market price of the last one month. The bank has posted a profit of Rs 9.61 crore with an interest income of Rs 130.14 crore for the third quarter ended December.
New Delhi, Jan. 18: The ministry of commerce and industry today clarified that the FDI policy for townships, housing, and construction-development projects will not apply to hotels and tourism or special economic zones which are governed by a separate set of FDI guidelines.
New Delhi, Jan. 18: Coal India Ltd has approved setting up of a new subsidiary, Coal India Videsh Ltd, for its foreign ventures. The government is also likely to clear the plan soon.
SBI Caps plan
Mumbai, Jan. 18: SBI Capital Markets (SBI Caps) today entered into an alliance with Hong Kong-based CLSA. The alliance will work on large deals in equity markets and M&As.
Calcutta, Jan. 18: Calcutta High Court today heard an application filed by Rajendra S. Lodha seeking the court to direct Manorama Birla, wife of K.K. Birla, to deposit five gold coins and two gold idols with special officers.