The Hindu Business Line : Corporate

Aug. 2: The Securities and Exchange Board of India pulls up the UB Group’s merchant banker for making misleading/incorrect statements to the Bombay Stock Exchange in connection with the UB Group’s open offer to the public to buy shares in Deccan Aviation.

Aug. 3: Tata Steel buying 35% in Australian co Riversdale’s Mozambique Coal Project

Puravankara cuts IPO price band to Rs 400-450 a share and extends the subscription period to Aug. 8

Reliance Capital’s open offer to shareholders of TV Today Network fetches a negligible response, leaving Reliance Capital’s stake in the media company almost unchanged at 11.93 per cent.

Aug. 4: Biocon signs a MoU with Neopharma to establish Neobiocon, a joint venture company in Dubai’s biotechnology and research park. The venture expands Biocon’s global network to provide bio therapeutics

Aug. 6: The Madras High Court rejects the contention of multi-national pharma major Novartis that the amended law on products eligible for patent is beyond the legislative powers of Parliament.

Strides Arcolab completes the acquisition of fermentation company Diaspa SpA, Italy, for an undisclosed sum.

Aug. 7: Dunlop suspends work at Ambattur factory.

Tata Steel Ltd raises $875 million in Foreign Currency Convertible Alternative Reference Securities issue, including a $150-million green shoe option, for funding its $12-billion Corus Group acquisition

Power Finance Corporation formally transfers the 4,000-MW Sasan power project to Reliance Power.

Aug. 8: Merrill Lynch Capital Markets Espana sells 3 lakh shares amounting to 2.3 per cent of equity in Goldstone Technologies, thereby bringing down its total holding in the company to 3.85 per cent.

Aug. 9: Essar Steel Holdings, the subsidiary of Essar Global, arrives at a settlement at its recently acquired Algoma Steel, Canada sorting out the issues that had threatened a possible work stoppage by the United Steelworkers union.

Aug. 10: Speciality Papers acquires three companies — Reliable Papers, Opel Paper Mill and Prime Industries — for a total consideration of Rs 328 crore.

Mitsubishi Heavy Industries India Precision Tools Ltd, formerly SRP Tools Ltd, inaugurates its new manufacturing facility at its existing premises in Ranipet near Chennai.

Aug. 12: The GEA Group setting up of a plate heat exchanger facility in Chakan in Pune.

Aug. 13: Shriram Transport Finance Company picks up 40 per cent stake in Ashley Transport Services Ltd.

Visakha Industries decides to hive off its garments division and later sell the assets.

Indian Hotels Company Ltd decides to make a rights offer to raise around Rs 1,900 crore through two simultaneous but unlinked issues to the shareholders.

Essel Propack announces it has filed for rehabilitation of RAS Propack Lamipack and RAS Extrusions of the RAS Group with the Board for Industrial and Financial Reconstruction.

Aug. 14: Reliance Industries Ltd shutting down its polyester intermediate mono-ethylene glycol manufacturing unit in Kurkumbh, 70 km from Pune, and relocating the entire unit to another location.

Aug. 15: Lanco Infratech Ltd concludes a corporate restructuring plan.

Aug. 16: Dewan Housing Finance Corporation Ltd allotts 70,65,456 equity shares of Rs 10 each at a premium of Rs 65 per share to Caledonia Investments Plc, London, upon conversion of 70,65,456 optionally convertible preference shares of face value Rs 25 each held by them.

Aug. 17: An interim order following an RDO (Revenue Divisional Officer) enquiry into the sale of Dunlop India Ltd land here stops the company and the buyer, a Chennai-based developer, Mr V.N. Devadoss, from taking any action on a disputed portion.

ITC acquires the entire share capital of Technico Pty Ltd of Australia for an undisclosed sum.

Steel Authority of India Ltd, Rashtriya Ispat Nigam Ltd and National Mineral Development Corporation sign a memorandum of understanding for setting up a 4-million-tonne per annum integrated steel plant in Chhattisgarh.

Essel Propack Ltd sets up a factory at Uttarakhand for the manufacture of speciality packaging material for food, pharmaceutical and personal care products at a project cost of Rs 65 crore.

Aug. 19: The UB Group calls off its ties with the New Zealand-based liquor company, Independent Liquor with which it had planned to launch several ready-to-drink products in India.

Aug. 20: Blackstone Group acquiring the Bangalore-based Gokaldas Exports Ltd for about Rs 676 crore (including 20 per cent open offer).

The Rane group announces a restructuring plan to eliminate cross holdings and to bring all the entities of the group under one holding company — Rane Holdings Ltd.

Aug. 21: JSW Steel Ltd acquires a group of three companies in the US - Jindal United Steel Corporation, Saw Pipes of the US, and Jindal Enterprises LLC - for Rs 3,700 crore ($900 million).

Blackstone Group makes an open offer at Rs 275 per share to acquire an additional 20 per cent stake in Gokuldas Exports.

Kilburn Engineering approves the sale of the company’s property, measuring about 8.32 acres, in Bhandup, Mumbai to Housing Development & Infrastructure Ltd for a consideration of Rs 124.7 crore.

Aug. 22: Tata Motors informs the Calcutta High Court that it would pay West Bengal Industrial Development Corporation an amount in the region of Rs 1,000 crore in a phased manner for the Singur land lease of 90 years for its small car project.

Aug. 23: Holcim Ltd investing about $1.34 billion (about Rs 5,500 crore) for increasing its stake in Ambuja Cements Ltd from 32.3 per cent to 56.2 per cent.

The Government approves Cairn Energy’s proposal to lay a pipeline from Barmer, Rajasthan to Gujarat coast.

Aug. 24: Bajaj Auto Ltd stops production of two-wheelers at its Akurdi plant near Pune with effect from Sept. 1, and issues a notice to workers that the six-day workweek has been cut to four days with immediate effect.

Reliance Capital, through its private equity arm, invests Rs 75 crore in Victory Transformer & Switchgear Ltd, a fully integrated transformer manufacturing company, for an approximate 26 per cent stake.

Aug. 28: Essar Group setting up 1,200-MW plant at Jamnagar in Gujarat at an estimated cost of Rs 4,800 crore.

Elder Pharmaceutical Ltd acquires 51 per cent stake in Biomeda Group of Bulgaria in an all-cash deal worth €5 million (about Rs 28 crore).

Power Grid Corporation of India Ltd, launching IPO from Sept. 10 to raise nearly Rs 3,000 crore to part-finance its transmission projects. Price band fixed between Rs 44 and Rs 52 per equity share.

Aug. 29: Ashok Leyland and Nissan Motor Co Ltd sign heads of agreement for forming three joint venture companies to produce light commercial vehicles, powertrains and R&D.

Aug. 30: Apollo Health Street acquires US-based competitor Zavata Inc for about Rs 697 crore ($170 million).

TVS Motor Company rolls out seven vehicles, including three variants of its new three-wheeler, marking its foray into the segment.

The UB Group gets regulatory approval from the Securities & Exchange Board of India for its open offer of additional shares of Deccan Aviation Ltd.

Aug. 31: Nicholas Piramal India Ltd spinning off its drug discovery operations into a new company.

The out-of-court negotiations between the Bajaj brothers, Mr Rahul Bajaj and Mr Shishir Bajaj, end in a stalemate, with the brothers failing to come to an understanding on the division of the group.

Indian Oil Corporation’s crude oil derivatives trading on the Multi-Commodity Exchange of India formally inaugurated

Events 2007 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

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