CORPORATE
PRIVATE PLACEMENT
Buying tomorrow
Cairn India has arranged a private placement of Rs 2,535 crore after entering an agreement with Petronas and Orient Global Tamarind Fund. Investors have agreed to purchase 11.3 crore shares of Cairn at Rs 224.30 per share. The net proceeds ...
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Funding needs
Shareholders of Kalindee Rail Nirman Engineers have approved raising of Rs 150 crore through qualified institutional placement route. They have also given their nod to raise another Rs 72 crore by way of issue of convertible equity warrants to ...
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NEW BUSINESS
Tech critical
Tech Mahindra announced the signing of a five-year deal valued in excess of $350 million to provide BT with application maintenance and support services for their business critical BSS and OSS applications and platforms. ...
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ACCOUNTANCY
Core group formed for multi-disciplinary firms
New Delhi, March 22 With the creation of multidisciplinary firms on the anvil, the three professional institutes of company secretaries, chartered accountants, and cost and work accountants have formed a core group to lay out norms for such ...
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NEW PROJECTS
Swarovski in expansion mode, acquires more land
Pune, March 22 Crystallised elements manufacturer Swarovski India Pvt Ltd (SIPL) is in expansion mode and has acquired around 20 acres of additional land at Ranjangaon near Pune, where it already has a unit manufacturing pearls exclusively for ...
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M&B Footwear on expansion mode
New Delhi, March 22 M&B Footwear India, which has a brand licensee agreement with several international brands, is on an expansion trail. The company is looking at private-equity placement of around $10 million and mulling to offload 15 ...
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ALLIANCES & JOINT VENTURES
Amtek Auto to produce 5,000 wagons for Rlys
New Delhi, March 22 Amtek Auto Ltd, the Rs 1,000-crore plus auto parts maker that struck an equal joint venture with a leading North American wagon supplier American Rail Car Industries, said that it would set up a capacity to produce 5,000 ...
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OUTLOOK
Sri Lanka’s Jetwing Hotels plans India foray
Especially keen on projects in Kerala, Karnataka
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Vakil Housing eyes Hosur for villa project
Coimbatore, March 22 Bangalore-based Vakil Housing Development Corporation, developers of residential townships, is eyeing Hosur as its next ideal project promotion destination.Commenting on the decision to foray into Hosur, its ...
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