Subhash Projects staff plan
Subhash Projects and Marketing Ltd (SPML) plans to double its headcount from 1,000 to 2,000 in the next one and a half years and diversify into other infrastructure verticals as part of its expansion plans for 2006-07. The company expects the expansion plan to double its revenue this fiscal. The company’s net profit for the quarter ended September 30 was Rs 10 crore against Rs 1.64 crore a year ago. Net sales was Rs 194 crore against Rs 61 crore in the previous year. the company’s revenue for the last fiscal was Rs 400 crore.
Chennai-based discount retailer Subhiksha Trading Services plans to open between 80 and 90 stores in the city by September 2007. It also plans an IPO by March 2007. Subhiksha has raised around Rs 80 crore through a rights issue recently. ICICI Venture has a 25 per cent stake in the company and has pumped in Rs 93 crore since 2000.
Indus Fila has chalked out an expansion plan to increase capacities in weaving, yarn dyeing and setting up a centre of excellence. Total investment is estimated at Rs 166.24 crore. The company proposes to enter the capital market with an IPO of 4,843,789 equity shares of Rs 10 each through 100 per cent book building to part finance the plan.
Genpact plans to expand in Bhopal, Bhubaneswar and Jaipur. The company has received an in-principle clearance to set up three special economic zones in the three cities from the board of approval, special economic zone of the ministry of commerce.
Dr Lal labs
Dr Lal Pathlabs will have a network of 50 laboratories across the country by March 2009. The expansion strategy will be funded through internal accrual, supported by venture funds Sequia Capital and debt.
Media e2e, Oracle India and Wipro Infotech have set up a consortium to meet the technology requirements of the media and entertainment sector.
Riddhi Siddhi Gluco Biols Ltd has set up a plant to manufacture modified starches for the paper industry at its Gokak unit in Karnataka. The capacity of the plant is 12,000 tonnes per annum.
Tata Indicom has launched the Pantech Slider PA 715SC and Tata Indicom Rhythm handsets in the city. Pantech Slider PA 715SC is priced at Rs 7,999 and Tata Indicom Rhythm comes for Rs 2,199.
Sutlej Textiles and Industries Ltd has been listed both at the Bombay Stock Exchange and the National Stock Exchange. Trading will begin from Thursday.