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American Dream for SBI, ICICI Bank
State Bank of India and ICICI Bank, India’s two largest banks, will spread their operations in the US. According to senior government officials, following the government’s talks with the US authorities, India’s two leading lenders may well be granted approval for fresh branch licences in the next six months.
Both these banks had sought approval for fresh licences quite a while ago, but concerns expressed by US agencies about the money laundering controls of Indian banks had led to an impasse.
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Lanco Infratech shares list at Rs 270
Infrastructure development company with interests in power generation, Lanco Infratech Ltd, was listed at Rs 270 with a premium of Rs 12.5 over its issue price of Rs 240 on the Bombay Stock Exchange on Monday.
GE Shipping got re-listed at Rs 264.65 on the Bombay Stock Exchange after the demerger of its Offshore Service Business.
The offer price of Lanco Infratech was Rs 240 per share and the issue was oversubscribed nearly 13 times.
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HCC plans IPO for real estate unit
Construction and engineering firm Hindustan Construction Co Ltd is planning an initial public offering of its real estate unit, Chairman Ajit Gulabchand told media on Monday.
"We are talking to the bankers on the real estate company's IPO," he said. The unlisted unit, HCC Real Estate, is 100 per cent owned by Hindustan Construction.
Cairn IPO to open on Dec 11, price band seen at Rs 160-190
The Edinburgh-based Cairn Energy is all set to hit the Indian capital markets on December 11 for floating its Indian subsidiary Cairn India (CIL).
The price band of the IPO is likely to be in the range of Rs 160-190. The company is expected to mop-up $2 billion from the sale proceeds of this IPO. The Cairn India board meet on Friday decided on the price band and the timing of the issue.
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Power IPOs will take six more months to light up
Power IPOs may not hit the capital market during ’06-07. Cabinet approval for a public float by PowerGrid, Power Finance Corporation (PFC) and Rural Electricity Corporation (REC) notwithstanding, adherence to regulatory norms and requirements may mean that it could be as long as six months before these companies can access the capital market.
PFC, which had been granted Cabinet approval earlier for a 10% IPO and 5% disinvestment, had filed its draft red herring prospectus in June. Company officials say they will consult Sebi on the way forward. If PFC has to undertake the entire exercise all over again, then it may miss the March ’07 deadline.
To Read MoreClick Here
State Bank of India and ICICI Bank, India’s two largest banks, will spread their operations in the US. According to senior government officials, following the government’s talks with the US authorities, India’s two leading lenders may well be granted approval for fresh branch licences in the next six months.
Both these banks had sought approval for fresh licences quite a while ago, but concerns expressed by US agencies about the money laundering controls of Indian banks had led to an impasse.
To Read MoreClick Here
Lanco Infratech shares list at Rs 270
Infrastructure development company with interests in power generation, Lanco Infratech Ltd, was listed at Rs 270 with a premium of Rs 12.5 over its issue price of Rs 240 on the Bombay Stock Exchange on Monday.
GE Shipping got re-listed at Rs 264.65 on the Bombay Stock Exchange after the demerger of its Offshore Service Business.
The offer price of Lanco Infratech was Rs 240 per share and the issue was oversubscribed nearly 13 times.
To Read MoreClick Here
HCC plans IPO for real estate unit
Construction and engineering firm Hindustan Construction Co Ltd is planning an initial public offering of its real estate unit, Chairman Ajit Gulabchand told media on Monday.
"We are talking to the bankers on the real estate company's IPO," he said. The unlisted unit, HCC Real Estate, is 100 per cent owned by Hindustan Construction.
Cairn IPO to open on Dec 11, price band seen at Rs 160-190
The Edinburgh-based Cairn Energy is all set to hit the Indian capital markets on December 11 for floating its Indian subsidiary Cairn India (CIL).
The price band of the IPO is likely to be in the range of Rs 160-190. The company is expected to mop-up $2 billion from the sale proceeds of this IPO. The Cairn India board meet on Friday decided on the price band and the timing of the issue.
To Read MoreClick Here
Power IPOs will take six more months to light up
Power IPOs may not hit the capital market during ’06-07. Cabinet approval for a public float by PowerGrid, Power Finance Corporation (PFC) and Rural Electricity Corporation (REC) notwithstanding, adherence to regulatory norms and requirements may mean that it could be as long as six months before these companies can access the capital market.
PFC, which had been granted Cabinet approval earlier for a 10% IPO and 5% disinvestment, had filed its draft red herring prospectus in June. Company officials say they will consult Sebi on the way forward. If PFC has to undertake the entire exercise all over again, then it may miss the March ’07 deadline.
To Read MoreClick Here
posted by SY at 1:06 PM
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