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Power Finance files for an IPO
Power Finance Corporation has filed the draft red herring prospectus with the SEBI for its proposed IPO (initial public offer), reports Business Line.
The issue size is 11,73,16,700 equity shares of Rs 10 each for cash at a price to be decided through the book building process.It would constitute approximately 10.22% of the post issue fully diluted equity share capital of the corporation. The issue constitutes a reservation of up to 25,00,000 equity shares for corporation employees and a net issue of 11,48,16,700 equity shares to the public.
The book running lead managers to the issue are Enam Financial Consultants, ICICI Securities and Kotak Mahindra Capital Company.`The issue will help us expand our capital base to meet the future capital requirements arising out of growth in our assets, primarily our loan and investment portfolio due to the growth of the Indian economy. We are seeking to strengthen our capital base to support the future growth in our assets, ` said Dr V.K. Garg, CMD, PFC.
Reliance Comm. fails to win Bahrain project
Anil Ambani led Reliance Communications has failed to win the licences for offering fixed-line services in Bahrain when the financial bids for the same were opened on Wednesday, reports Economic Times.
The licences for Bahrain’s two National Fixed Wireless Services (NFWS) were bagged by Mena Telecom WLL and MTC-Vodafone. These companies will be allowed to offer both voice and data services. They can also provide local telephony, internet services and international calls.
The company is amongst the six companies to be shortlisted. Bahrain`s Telecommunications Regulatory Authority (BTRA) has shortlisted six players for the final round based on evaluation of both the technical and financial parameters.
The licences will be granted by Bahrain`s telecom regulatory authority on January 8. Reliance Communications was among the six bidders shortlisted for the final round for Bahrain’s two NFWS licences. The other shortlisted companies included ATCO Clearwire Telecom, Batelco, Etisalcom Wireless Co WLL and Bahrain BSC.
Reliance Communications had failed in its bid failed to win the license for the second national operator`s (SNO) license in Kenya. Reliance had formed a consortium with Sweden-based Swedtel for its Kenya bid. Earlier, Reliance Communications’ bid to enter the Egyptian mobile market also took a hit after the Egyptian national telecom regulator disqualified its bid after the completion of technical evaluation.
Zee Telefilms demerges into 3 entities
Zee Telefilms has demerged the company into three entities effective December 18, after it received Bombay high court`s approval for the split, reports Business Standard.
The Subhash Chandra-promoted company demerged its cable distribution subsidiary into Wire & Wireless India (WWIL) and its regional and news broadcasting undertaking into Zee News (ZNL).
Shareholders of ZTL would receive 45 shares of ZNL and 50 shares of WWIL for every 100 shares they hold in ZTL. Both companies would be listed independently, after relevant approvals from the stock exchange. The listing is likely to take place in January 2007.
However, ZTL would commence trading as the demerged entity from December 18, but under a new name Zee Entertainment Enterprises (ZEEL).The company had earlier announced the book closure date from Dec. 24 to 28, 2006, for determining eligibility for issuance of equity shares of demerged entities ZNL and WWIL.
The demerged ZTL (including the direct consumer business undertaking) would continue to trade on the stock exchanges. The company will announce a separate record date for the demerger of its direct consumer business into ASC Enterprises, which will be renamed as Dish TV India.
The business of ZEEL includes the global broadcasting business of ZTL, excluding the news and regional language channels.
Zee TV, Zee Cinema, Zee Sports, Zee Muzic, Zee Smile, Zee Jagran, Zee Premiere, Zee Classic, Zee Action, Zee Studio, Zee Cafe and Zee Trendz are the channels that come under ZEEL.It would also include global broadcasting business of Zee in US, Europe, Africa, Middle East and Asia Pacific.
Power Finance Corporation has filed the draft red herring prospectus with the SEBI for its proposed IPO (initial public offer), reports Business Line.
The issue size is 11,73,16,700 equity shares of Rs 10 each for cash at a price to be decided through the book building process.It would constitute approximately 10.22% of the post issue fully diluted equity share capital of the corporation. The issue constitutes a reservation of up to 25,00,000 equity shares for corporation employees and a net issue of 11,48,16,700 equity shares to the public.
The book running lead managers to the issue are Enam Financial Consultants, ICICI Securities and Kotak Mahindra Capital Company.`The issue will help us expand our capital base to meet the future capital requirements arising out of growth in our assets, primarily our loan and investment portfolio due to the growth of the Indian economy. We are seeking to strengthen our capital base to support the future growth in our assets, ` said Dr V.K. Garg, CMD, PFC.
Reliance Comm. fails to win Bahrain project
Anil Ambani led Reliance Communications has failed to win the licences for offering fixed-line services in Bahrain when the financial bids for the same were opened on Wednesday, reports Economic Times.
The licences for Bahrain’s two National Fixed Wireless Services (NFWS) were bagged by Mena Telecom WLL and MTC-Vodafone. These companies will be allowed to offer both voice and data services. They can also provide local telephony, internet services and international calls.
The company is amongst the six companies to be shortlisted. Bahrain`s Telecommunications Regulatory Authority (BTRA) has shortlisted six players for the final round based on evaluation of both the technical and financial parameters.
The licences will be granted by Bahrain`s telecom regulatory authority on January 8. Reliance Communications was among the six bidders shortlisted for the final round for Bahrain’s two NFWS licences. The other shortlisted companies included ATCO Clearwire Telecom, Batelco, Etisalcom Wireless Co WLL and Bahrain BSC.
Reliance Communications had failed in its bid failed to win the license for the second national operator`s (SNO) license in Kenya. Reliance had formed a consortium with Sweden-based Swedtel for its Kenya bid. Earlier, Reliance Communications’ bid to enter the Egyptian mobile market also took a hit after the Egyptian national telecom regulator disqualified its bid after the completion of technical evaluation.
Zee Telefilms demerges into 3 entities
Zee Telefilms has demerged the company into three entities effective December 18, after it received Bombay high court`s approval for the split, reports Business Standard.
The Subhash Chandra-promoted company demerged its cable distribution subsidiary into Wire & Wireless India (WWIL) and its regional and news broadcasting undertaking into Zee News (ZNL).
Shareholders of ZTL would receive 45 shares of ZNL and 50 shares of WWIL for every 100 shares they hold in ZTL. Both companies would be listed independently, after relevant approvals from the stock exchange. The listing is likely to take place in January 2007.
However, ZTL would commence trading as the demerged entity from December 18, but under a new name Zee Entertainment Enterprises (ZEEL).The company had earlier announced the book closure date from Dec. 24 to 28, 2006, for determining eligibility for issuance of equity shares of demerged entities ZNL and WWIL.
The demerged ZTL (including the direct consumer business undertaking) would continue to trade on the stock exchanges. The company will announce a separate record date for the demerger of its direct consumer business into ASC Enterprises, which will be renamed as Dish TV India.
The business of ZEEL includes the global broadcasting business of ZTL, excluding the news and regional language channels.
Zee TV, Zee Cinema, Zee Sports, Zee Muzic, Zee Smile, Zee Jagran, Zee Premiere, Zee Classic, Zee Action, Zee Studio, Zee Cafe and Zee Trendz are the channels that come under ZEEL.It would also include global broadcasting business of Zee in US, Europe, Africa, Middle East and Asia Pacific.
posted by SY at 12:25 PM
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