IFSL stake shake
Mumbai, June 18: Indiabulls Financial Services Ltd (IFSL) today said it has allotted Farallon Capital Management Llc-controlled Oberon Ltd convertible and non-convertible preference shares worth Rs 644 crore. The convertible preference shares are convertible at a price of Rs 300 into 1.15 crore shares of IFSL and bear a dividend of 5 per cent. They have been allotted for Rs 345 crore. The non-convertible preference shares will be allotted for Rs 299 crore and carry a dividend of 5 per cent per year for the first 18 months and then 10 per year for the next 18 months, it added.
New Delhi, June 18: Karnataka remains numero uno in software exports with a 37 per cent share of the total exports of Rs 100,965 crore in 2005-06 and Maharashtra has moved to the second slot with a turnover of Rs 15,500 crore and a 36 per cent growth, said a survey by the Electronics and Computer Software Export Promotion Council.
New Delhi, June 18: The government today said it would try for a political consensus on pension reforms in the monsoon session of Parliament to enable the smooth passage of the long-awaited legislation for setting up a pension regulator.
Chandigarh, June 18: Reliance Industries will ink a deal with Haryana State Industrial Development Corporation tomorrow to set up a Rs 25,000-crore special economic zone.
New Delhi, June 18: Analysts are holding onto their bullish long-term outlook for gold. Merrill Lynch and Deutsche Bank have raised their gold price forecasts.