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Zylog maiden issue

Chennai, June 2: IT solution provider Zylog Systems plans to launch an initial public offer to raise about Rs 100 crore for expansion and working capital requirements. We are awaiting Sebis clearance, which is expected at any moment now, Sudarshan Venkatram, chairman of the Chennai-based company, said here today. The company plans to develop two offshore development centres at Sholinganallur and Siruseri at a cost of Rs 66.71 crore, he said.

PNB move

New Delhi, June 2: Punjab National Bank today increased interest rates on foreign currency non-resident (B) deposit scheme for dollar, British pound, euro and Canadian and Australian dollar with effect from June 1. The interest rate on US dollar deposits have been hiked to 4.64 per cent for a maturity of one year to less than two years and to 4.57 per cent for a maturity of two years to less than three years, the bank said in a release.

Birla cement

Mumbai, June 2: The Aditya Birla group posted a 3.35 per cent rise in cement production during April-May at 54.63 lakh tonnes against 52.86 lakh tonnes in the corresponding period of the previous year.

AMW trucks

New Delhi, June 2: Asia Motorworks (AMW) today launched its 25-49-tonne capacity trucks in northern India. The trucks are priced between Rs 15 lakh and Rs 28 lakh. The company will set up a dealership and spare part shop in Delhi and the NCR region to cater to customers in northern India.

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