The Hindu Business Line : Corporate developments

Coimbatore, Oct. 18 ABB Ltd has received orders worth Rs 512 crore from JSW and its associated companies to provide turnkey power and automation solutions for their steel and power plant projects. This includes Electrical Balance of Plant (EBoP) solutions for their 8x135 MW power generation facility in Rajasthan and a 300 MW power plant being set up in Bellary, Karnataka. The projects are expected to be commissioned by 2009.

Color Chips India Ltd has decided to issue Global Depository Receipts (GDRs) / American Depository Receipts (ADRs) up to $12.5 million.

Hexaware Technologies Ltd has said that a meeting of the board of directors will be shortly convened to review, consider and approve the buy-back of equity-shares.

Kirloskar Oil Engines Ltd has decided to study various restructuring options for its components division with a view to position itself better in the business.

Nagarjuna Construction Co Ltd’s shareholders have approved the issue of 20246900 equity shares of Rs 2 each at a premium of Rs 200.50 and 9,111,111 Warrants of Rs 225 each to the Blackstone Group of companies as per guidelines framed by SEBI.

Oudh Sugar Mills Ltd’s Finance and Corporate Affairs Committee of the board of directors has consented to the issue of equity shares of Rs 10 each on rights basis to the existing equity shareholders together with detachable warrants, aggregating to Rs 50 crore. The detailed terms on ratio entitlement and price will be decided later.

Videsh Sanchar Nigam Ltd has announced expansion of its International In-roaming service on Wi-Fi, with the addition of NTT, Japan. StarHub, Singapore already utilises the company’s Wi-Fi network across India for its customers. The company has been driving the growth of the Wi-Fi industry in India and currently has the largest Wi-Fi deployment among domestic ISPs with over 350 hotspots. It has drawn up plans this year to further enhance the footprint to over 1000 hotspots — bringing high-speed broadband internet closer to the large Indian travelling population. Over the next six months, the company intends to open up its extensive Wi-Fi network to millions of customers of international telecom operators, thereby enabling travellers to India to have access to high speed wireless broadband zones in key locations in the top 10 cities in the country.