The Hindu Business Line : Corporate developments

Coimbatore, Dec. 6 Bajaj Hindusthan Sugar & Industries Ltd has said that two new sugar plants — the 7,000 TCD plant at Rudauli in District Basti and the 15,000 TCD plant at Kunderki District Gonda, (both in Eastern Uttar Pradesh) — have commenced operations. With these two new plants, the aggregate operating capacity of the company during the current sugar season has increased to 28,000 TCD from the earlier capacity of 6,000 TCD. Majority of the project work on the third new sugar plant of 12,000 TCD at Utraula, District Balrampur has also been completed and will also beoperational during the ongoing sugar season 2007-08. The total sugar crushing capacity would be 40,000 TCD making it one of the largest sugar manufacturing companies in India. In addition, the newly set up 160 KL per day capacity distillery at Rudauli in District Basti, having facility to manufacture ethanol has also commenced operations. The company has sufficient orders from oil companies for supply of ethanol.

Easun Reyrolle Ltd has said that its directors have allotted Global Depository Receipts (GDRs) and Unsecured Foreign Currency Convertible Bonds (FCCBs) aggregating to $50,000,000 to international investors with GDR constituting $15 million and FCCB the balance $35 million. These instruments are being listed on Singapore Stock Exchange.

Ennore Foundries Ltd’s board of directors, as part of its funding plans, has approved the proposal for raising further capital by issue of equity shares and/or equity shares in the form of GDRs and/or FCCBs and/or securities convertible into equity shares and/or securities linked to equity share and/or securities with or without detachable share warrants, and/or bonds with share warrants attached secured or unsecured on private placement basis or otherwise for an amount up to Rs 100 crore or its foreign currency equivalent including the premium on the shares at a price to be determined and subject to the approval of the shareholders and other statutory authorities as may be required.

GVK Power & Infrastructure Ltd’s board of directors has approved sub-division of the nominal value of share from Rs 10 each to Re 1 per share.

Jamna Auto Industries Ltd has said that the High Court of Punjab & Haryana at Chandigarh in the hearing of company’s petition for amalgamation of Jai Parabolic Springs Ltd (JPSL) and MAP Springs Ltd (MSL) with Jamna Auto Industries Ltd (JAI), has accorded its approval to the Scheme of Amalgamation.

Ramkrishna Forgings Ltd’s board of directors will meet on December 11 to decide on increasing the authorised share capital and on raising funds through preferential issue / GDR / FCCB / ADR.