2:1 swap ratio set for ICICI Bank-BoM merger
THE boards of directors of ICICI Bank and Bank of Madura (BoM) have separately approved an all-stock deal proposing to merge BoM with ICICI Bank.

FIs to take part in Philips open offer
THE financial institutions have decided to participate in the open offer made by Royal Philips Electronics NV (Netherlands) to acquire the remaining 49 per cent equity capital of Philips India Ltd (PIL).

Sesa Goa `not aware' of heavy buying into scrip
IRON ore major Sesa Goa Ltd, whose scrip has appreciated at the Bombay Stock Exchange by 103.34 per cent since November 1, has got full clearance from the Government to use in-house technology for setting up a power project.

Panel soon to advise SEBI on venture funds -- Exit clause set to get board nod
THE board of directors of the Securities and Exchange Board of India (SEBI) is to meet in Mumbai on December 27 to give its formal nod for doing away with the stipulation requiring venture capital funds (VCFs) to exit from a venture capital undertaking ( VCU) within a year of the latter's listing for availing itself of the benefit of tax ``pass through.''

US-64 net sales up 74 pc
NET sales of Unit Trust of India's (UTI) flagship scheme, US 64, registered a 71-per cent growth as on November 30, 2000 over the corresponding period last year.

Mr Wilson & Dennis jostle in dealing rooms
REMEMBER the ``Masters of the Universe'' of Tom Wolfe's magnum Opus The Bonfire of Vanities? The young, daring bond dealers shooting from the hip with millions of dollars at stake? Well, they have arrived in India, i.e., they are taking over the forex de aling rooms across the country. ``Yuppie'' forex dealers are telling the old guard to move over.

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