Tata Coffee rights

Mumbai, March 13: Tata Coffee Ltd today decided to issue on rights basis two equity shares of Rs 10 each for every five held by its existing shareholders. The price band for the rights shares has been fixed between Rs 220 and Rs 260 per share. The record date will be announced later.

Steel pay

New Delhi, Mar 13: The government will adopt the pay scales prescribed by the National Joint Committee for Steel Industry for wage parity between the employees of SAIL and IISCO, the Lok Sabha was informed today.

SBI bonds

Mumbai, March 13: The State Bank of India has raised $10 million from overseas markets through bonds. The floating rate notes have a tenor of five years and carry an interest rate of 0.45 per cent more than the London interbank offered rate.

Russian plant

Bhubaneswar, March 13: Russian steel firm Magnitogorsk Iron and Steel Works is keen on building a 10-million-tonne steel plant near the Gopalpur port in Ganjam district of Orissa.

AllBank issue

Calcutta, March 13: Allahabad Bank today raised Rs 500 crore via 8 per cent tier-II bonds. The issue included a Rs 100-crore greenshoe option. The bonds have a tenure of 10 years. The issue was fully subscribed on its opening day.