Cement trio to merge

New Delhi, May 9: HeidelbergCement India will merge with Mysore Cements and Indorama Cement, for which all the three firms have got approvals from their respective boards. “Mysore Cements (MCL), Indorama Cement (ICL) and HeidelbergCement india (HIPL) in their separate respective board meetings held on may 9, received approvals to the merger of icl and hipl into and with mcl,” heidelbergcement said in a statement.

Tata funds

Mumbai, May 9: Tata Power will raise over Rs 1,400 crore through the issue of shares to its promoter Tata Sons upon conversion of warrants. Tata Power today said the promoter group firm would be allotted shares at a price not less than Rs 1,351.63 each for warrants held by it, if Tata Sons exercised such a right.

FIPB move

New Delhi, May 9: The Foreign Investment Promotion Board (FIPB) has given its nod for foreign equity infusion in ICICI Securities, where parent ICICI Bank is seeking to unlock value by selling shares to public and institutional investors.

Insurance

Mumbai, May 9: The health insurance industry is expected to grow at about 50 per cent per annum, Insurance Regulatory and Development Authority chairman C.S. Rao said here today.

Energy plan

New Delhi, May 9: The government today said it was going to introduce the revised accelerated power development and reforms programme soon.