Business Daily from THE HINDU group of publications
Tuesday, Sep 25, 2007
ePaper
News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

 Corporate - Preferential Allotments
Markets - Foreign Institutional Investors
Blackstone investment in NCCL okayed

Hyderabad, Sept. 24

Decks were cleared for the Blackstone Group's Rs 615 crore investment in Nagarjuna Construction Company Ltd (NCCL) after the EGM of the company held on Monday approved the decision. Accordingly, NCCL will issue 2.02 crore equity shares of Rs 2 each at a premium of Rs 200.50 and 91.11 crore warrants of Rs 225 a warrant. Each warrant is convertible into one equity share of Rs 2 each at a premium of Rs 223. The proposal to enhance overall strength of the board from 15 to 18 directors and consequential amendment to the articles of association of the company was also approved, according to a statement. The issue would be made to Blackstone GPV Capital Partners Mauritius V-A Ltd, Blackstone GPV Capital Partners (Mauritius) V-H Ltd, and Blackstone FP Capital Partners (Mauritius) V FII Ltd. The company would use the proceeds of preferential offer primarily to fund build-operate-transfer projects.-Our Bureau

Related Stories:
Blackstone to invest Rs 615 cr for stake in Nagarjuna Const
Nagarjuna Construction net rises 53% at Rs 44.90 cr

More Stories on : Preferential Allotments | Foreign Institutional Investors | Real Estate & Construction

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

Stories in this Section
Essar to invest $210 m to buy 6 supramax

Carlsberg all-malt beer launched
Clarification on HUL buyback
Blackstone investment in NCCL okayed
MRPL pays dividend to HPCL
IVRCL bags orders worth Rs 394 cr
Norit bags Rs 11.2-cr deals
Excellence award for ONGC
India Cements rejigs board; 3 new directors inducted
LB India buys stake in Genus Overseas
Bajaj Auto moves ahead on 4-wheeler project
ONGC Videsh signs contract for Myanmar blocks
Norsk may pick up stake in more ONGC blocks
Ranbaxy partners Sirtex to sell liver cancer drug
IVRCL to enter mining soon
Indian Oil set to enhance refining capacity
ONGC plans Mumbai field Phase II redevelopment
Suzuki plans rolling out new models next year-end

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

Copyright © 2007, 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