Sintex to raise funds
Sintex Industries has received shareholders approval to raise over Rs 2,376 crore through issue of securities in domestic and international markets. The shareholders approved various proposals entailing raising of funds to the tune of Rs 2,376 crore at an extra ordinary general meeting, the company informed the Bombay Stock Exchange. It would raise $300 million by issue of foreign currency convertible bonds, global depository receipts and other securities in the international markets.
Tata Teleservices Ltd has launched its Go Power pack for its pre-paid customers. Under the offer, local calls to Tata Indicom phones will cost 39 paise per minute during the day and 19 paisa per minute at night.
Wanbury Ltd has issued 1 per cent unsecured foreign currency convertible bonds of 15 million euros in two tranches—FCCB A bonds of 8 million euros fully paid up and FCCB B bonds of 7 million euros 10 per cent paid up. The B bonds have been subscribed by the Deutsche Bank.
Chabria Infotech has introduced endpoint security solutions as part of its portfolio. The company is planning to augment traditional antivirus and anti-spyware solutions with network threat protection that combines intrusion prevention and network communications control.
Lilliput Kidswear has launched a campaign called Celebrate Lilliput. The campaign offers return air tickets for a single person to select destinations in India for a purchase worth Rs 2,500. On purchases of over Rs 4,000, the customer will get an additional holiday package.
Daimler AG’s truck’s division has formed a joint venture with the Hero group. The companies have signed a shareholder agreement and will submit the formal application to the FIPB. The Daimler Supervisory Board has approved the transaction.
TIL has tolled out its 5,000th crane from its Kamarhatty plant. The crane, RT630C, is of rough terrain variety. It has been manufactured in collaboration with Grove-USA. The crane has been designed to be used in construction, mining, defence, refineries, steel and power.
Burnpur Cement Ltd’s initial public offering has been subscribed 15.19 times. The company received applications worth Rs 399.11 crore against the Rs 26.28 crore IPO. Burnpur had offered its shares of Rs 10 each for cash at a premium of Rs 2 per share.
Vodafone Essar has crossed four million subscribers in Bengal. The company had 2.27 million subscribers in December 2006.