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PFC plans IPO by end-March
Power Finance Corp hopes to float an initial public offering of shares by the end of March 2007, Chairman VK Garg told reporters on Tuesday.
"Cabinet approval has been obtained. As soon as (market regulator) SEBI gives permission, we will come up with an IPO hopefully by end of this fiscal year," he told reporters.The book value of the shares will be 62 rupees and the premium will be decided by the market, he said.
SBI plans 300-mn dollar FRN -sources
State Bank of India, plans to sell a $300 million, five-year floating rate note this week at a spread of 50 to 55 basis points over three-month LIBOR, market sources said on Tuesday.
It is the latest Indian bank to issue a global bond.The sources gave no details on the use of the proceeds.State Bank of India's Managing Director Yogesh Agarwal said last month that the bank may revise up its target for 30 per cent growth in loans for the year to March 2007.Agarwal said at the time that corporate loans were growing faster than retail and home loans.
Indian banks are growing their loan books at more than 30 per cent a year as demand from companies for expansion and from individuals for building homes and buying cars surges in an economy growing at more than 8 per cent a year.
Barclays Capital, Citigroup and Deutsche Bank are handling the proposed transaction.
The UK branch of ICICI Bank, on Monday priced a $150 million upper tier II perpetual bonds, callable in 10 years, via Barclays.
Shree Ashtavinayak set IPO price
Movie maker Shree Ashtavinayak Cine Vision Ltd, plans to issue 3.73 million shares priced in the band of 140-160 rupees a share through an initial public offer.
The issue would raise about 597 million rupees at the top end of its price band, documents filed with the Securities and Exchange Board of India showed.The proceeds would be used to fund film production, purchase of equipment and to repay debt, the company said in the prospectus.Allianz Securities Ltd is the lead manager to issue, which opens on Dec 14 and closes on Dec 20.
Power Finance Corp hopes to float an initial public offering of shares by the end of March 2007, Chairman VK Garg told reporters on Tuesday.
"Cabinet approval has been obtained. As soon as (market regulator) SEBI gives permission, we will come up with an IPO hopefully by end of this fiscal year," he told reporters.The book value of the shares will be 62 rupees and the premium will be decided by the market, he said.
SBI plans 300-mn dollar FRN -sources
State Bank of India, plans to sell a $300 million, five-year floating rate note this week at a spread of 50 to 55 basis points over three-month LIBOR, market sources said on Tuesday.
It is the latest Indian bank to issue a global bond.The sources gave no details on the use of the proceeds.State Bank of India's Managing Director Yogesh Agarwal said last month that the bank may revise up its target for 30 per cent growth in loans for the year to March 2007.Agarwal said at the time that corporate loans were growing faster than retail and home loans.
Indian banks are growing their loan books at more than 30 per cent a year as demand from companies for expansion and from individuals for building homes and buying cars surges in an economy growing at more than 8 per cent a year.
Barclays Capital, Citigroup and Deutsche Bank are handling the proposed transaction.
The UK branch of ICICI Bank, on Monday priced a $150 million upper tier II perpetual bonds, callable in 10 years, via Barclays.
Shree Ashtavinayak set IPO price
Movie maker Shree Ashtavinayak Cine Vision Ltd, plans to issue 3.73 million shares priced in the band of 140-160 rupees a share through an initial public offer.
The issue would raise about 597 million rupees at the top end of its price band, documents filed with the Securities and Exchange Board of India showed.The proceeds would be used to fund film production, purchase of equipment and to repay debt, the company said in the prospectus.Allianz Securities Ltd is the lead manager to issue, which opens on Dec 14 and closes on Dec 20.
posted by SY at 4:23 PM
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