Delphi to invest $10 m
Delphi Corp, the US-based auto component firm, plans to invest $10 million during the next two years to increase the production capacity at its plant in Bangalore. This investment will help Delphi increase half-shaft production at the plant by more than 100 per cent over the next three years. Incidentally, Delphi has filed for bankruptcy protection in the United States.
S Kumars Nationwide Ltd will raise $50 million to fund its growth plans. The company has placed $50 million, including a green-shoe option of $5 million of unsecured and unrated five-year FCCBs with a coupon of 2 per cent, S Kumars informed stock exchanges. The company has also made an application to list the FCCBs on Singapore Stock Exchange.
Eastern Silk Industries has privately placed shares worth Rs 50.50 crore with Leverage India Fund, which is managed by IL&FS. The shares have been placed at Rs 250 apiece.
The Bagla group, which manufactures auto components, plans to spend around Rs 150 crore in the next two years on expansion. The group opened its eighth and ninth plant of subsidiary company Aurangabad Electricals on Wednesday.
i-flex Solutions Ltd's flagship product Flexcube has been selected as the core banking solution by three Chilean banks to handle their back-office operations and client management needs. The three banks are Banco del Desarrollo, Banco Security and Banco International.
Apollo Tyres will raise Rs 450 crore through the issue of securities in domestic or international markets. The company's board has approved the fund-raising plan through public issue, rights or otherwise, in one or more tranches, subject to shareholders' approval.
Elecon Engineering's turnover for 2005-06 has increased 60 per cent to Rs 445 crore against Rs 278 crore in the previous year. The material handling equipment division has achieved around three-fold increase in turnover at Rs 209 crore compared with Rs 76 crore a year ago.
Rajesh Exports, the leading gold jewellery manufacturer and exporter, has bagged an export order worth Rs 178 crore from Sharjah-based Excel Goldsmiths for supplying designer jewellery. This order would be executed at the company's manufacturing facility in Bangalore.
Pepe Jeans London has launched its Spring Summer '06 collection in Calcutta. Prices start from Rs 549 onwards.