Vedanta to raise $2 bn

Hong Kong, June 23: Vedanta Resources plans to raise up to $2 billion in a multi-tranche, multi-currency bond sale this week, an investor briefed on the sale said on Monday. The firm is considering issuing a 5.5 year tranche yielding in the low 8-per cent-range and a 10-year tranche yielding in the high 8-per cent-range, the source added.

UTI float

New Delhi, June 23: UTI Asset Management is likely to come out with an initial public offer by the third week of the next month before which it will go for preferential allotment.

Merc launch

New Delhi, June 23: Mercedes-Benz India has launched two new variants of its leading model in the country, the E-Class, priced at Rs 41.44 lakh and Rs 38.99 lakh (ex-showroom, Mumbai), respectively.

Rio Tinto lease

London, June 23: Rio Tinto has submitted mining lease applications for its Bunder diamond project in Madhya Pradesh. The mining giant is expecting environmental approval from the state government for a 10-tonne-per-hour dense media separation plant.

Reliance retail

Mumbai, June 23: Reliance Brands, a wholly owned subsidiary of Reliance Retail, has formed a 50:50 joint venture with Dama Spa to launch luxury Italian sportswear brand Paul & Shark in the country.