Financial Daily from THE HINDU group of publications
Saturday, Sep 25, 2004

Cross Currency

Group Sites

Corporate - Private Placement

Equity offer to IDBI

Our Bureau

HYDERABAD: OIL Country Tubular Ltd has informed the stock exchanges that its shareholders at the annual general meeting held here on Friday have authorised the board of directors to offer, issue and allot up to 50-lakh equity shares of Rs 10 each to Industrial Development Bank of India (IDBI) in accordance with loan agreement entered with the bank.

The company has further informed that it has received a Letters of Intent from ONGC valued at $26.66 million (around Rs 122.3 crore) on September 17 for castings to be supplied during 2004-05 and 2005-06. With these, the order book position as on date improved to Rs 205 crore.

The company informed the exchanges that it expects to achieve about Rs 40 crore turnover for the half-year ending September 30, 2004 and the total annual turnover for 2004-05 is expected to be around Rs 130 crore as against Rs 100 crore achieved during 2003-04.

More Stories on : Private Placement | Petroleum | Financial Institutions

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Torrent Power's project achieves financial closure

Sandvik Asia establishes training academy for rock drilling activities
Siemens bags order worth euro 49 m from Delhi Metro
Maruti joint MD resigns
Microverse bags plant order
Equity offer to IDBI
Greaves Cotton pvt placement
SC to hear Zee plea against BCCI decision on Monday
It's easier to change ads than toothpowders
Dredging Corpn wants tax sops restored — `Treat dredgers as ships'
Sun Pharma to buy three brands from US co for $5.4 m
IBP merger by December: IOC
Faber India lines up major expansion
It's business as usual for BIFR despite uncertainty
Spic Petro revival plan: Lenders to meet on Oct 11
Kaya Skin plans southern foray thru Bangalore
L&T aims to become an Indian MNC

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line