New Delhi, Nov. 15: The Essar group has acquired a majority stake in Warid Telecom’s operations in Uganda and Congo. The combined enterprise value of the Dhabi Group’s Warid Telecom Uganda and Warid Telecom Congo is estimated to be $318 million. Sources said the Essar group had acquired a 51 per cent equity for about $160 million.
New Delhi, Nov. 15: State-owned oil firms today hiked jet fuel prices by 2.4 per cent following a spurt in international oil rates. Aviation turbine fuel prices in Delhi will increase Rs 948 per kilolitre to Rs 40,423 per kl, effective midnight tonight, an official of Indian Oil Corp said. Jet fuel price in Calcutta will be higher by Rs 1,001 per kl to Rs 48,681 per kl.
New Delhi, Nov. 15: NTPC will file the draft prospectus for its follow-on public offer with Sebi in December. “We will have to file the draft red herring prospectus with Sebi next month...we plan to hit the market by February,” NTPC chairman R.S. Sharma said.
Calcutta, Nov. 15: Andrew Yule will invite financial bids for Dishergarh Power Supply Company (DPSC) on November 20, a month after the Company Law Board allowed Descon to bid for its parent firm.
Mumbai, Nov. 15: Accion International has bought a 49.5 per cent equity stake in Patna-based microfinance start-up Saija Finance Pvt Ltd. The start-up provides financial services to small entrepreneurs and low- and middle- income families.
