Godrej Properties will float an IPO to offload 10 per cent of its equity in the company. “Godrej Industries owns an 82 per cent stake while the family holds 18 per cent in the firm,” group chairman Adi Godrej said. With the offloading, Godrej Industries’ holding will come down to 75 per cent and the family’s to around 15 per cent, Godrej said, adding that merchant bankers would be appointed shortly. On the size of the offering, he said, “It is too early to talk about this.” Sources, however, feel it could be between Rs 400 and Rs 600 crore.
Sunil Mittal-led Bharti Teletech plans to double the sales of its free-to-air set-top boxes to consolidate its market share to 30 per cent by the end of this fiscal. “The company sold 1.75 lakh set-top boxes last fiscal, up from 65,000 units in 2005-06,” company CEO Pawan Kapur said.
Reliance Money is planning to tie up with big retail players to rope in more customers, besides enabling them to have an easy access to trading platforms. “We want to forge relationships with large retailers as it will help us extend our reach and provide convenience to the customers by making trading easier,” Sudip Bandopadhyay, director and ceo of Reliance Money, said.
Tantia Constructions Ltd has bagged orders worth Rs 178.29 crore for highway projects in Bihar’s Rohtas, Lakhisarai and Jamui districts.
GE Industrial Systems has bagged its first order from Solar Turbine worth Rs 35 crore. It will provide processed gas and lube oil coolers for compressor package to the Oman gas company.
Motorola India Pvt Ltd, in association with CMC Ltd, a subsidiary of Tata Consultancy Services, and Edutech India Pvt Ltd, has launched the Motorola Certified Network Engineer programme for those aspiring for a career in the telecom industry.
