Financial Daily from THE HINDU group of publications
Saturday, Mar 04, 2006
Financial Daily from THE HINDU group of publications Saturday, Mar 04, 2006 |
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Money & Banking
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Mergers & Acquisitions Markets - Stocks UK co hikes stake in Dewan Housing Our Bureau
Mumbai , March 3 Caledonia Investment Plc, a UK-based investment Trust, has increased its stake in Dewan Housing Finance (DHFL) to 14 per cent from the current 2.18 per cent. The board of directors of DHFL today approved issue of optionally convertible preference shares worth Rs 53 crore on a preferential basis to Caledonia Investments Plc. The subscription will be subject to the approval of DHFL's shareholders at the company's general meeting, to be held on March 27. The conversion price of the OCPS has been fixed at Rs 75 each from the end of the 13th month of the date of investment, said a release from the company.
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