Cell firms soften stand
New Delhi, July 21: The Cellular Operators Association of India (COAI) today clarified it had no intention of “suing” Telecom Regulatory Authority of India (Trai) on its recent move to release a consultation paper on unified licensing regime. “At the outset, we would like to clarify without ambiguity that the cellular industry neither has had nor is having any intention of suing the authority on consultation paper,” COAI director general T. V. Ramachandran said in a letter to Trai chairman Pradip Baijal.
Uco Bank IPO
Mumbai, July 21: Uco Bank Ltd today filed a draft prospectus with the Securities and Exchange Board of India for its initial public offering of over Rs 200 crore. The bank is considering issuing 20 crore shares of Rs 10 each at a premium of up to Rs 2 per share, aggregating Rs 240 crore as a maximum outlay, a Uco Bank said in a release today.
Mumbai, July 21: Bajaj Auto and its partner, Kawasaki Heavy Industries of Japan, today launched the World Bike — Wind 125 for the Indian and global markets. It is priced at Rs 42,435 (ex-showroom Pune) and comes with a 2-year/40,000 km warranty.
Calcutta, July 21: Playwin expects to achieve a turnover of over Rs 1,000 crore by the year-end. “We will have 15,000 terminals across the country by 2004,” said Sanjay Das, CEO of Pan India Infravest. The company has added Mizoram and Arunachal Pradesh license to its portfolio, along with Sikkim and Karnataka.