JK Paper Ltd has decided to issue unsecured Foreign Currency Convertible Bonds (FCCBs) up to an amount not exceeding €35 million (approximately Rs 225 crore) on private placement basis to FMO, DEG and PROPARCO at an initial conversion price of Rs 65 per equity share of Rs 10 each, subject to adjustments which are usual for FCCBs. The FCCBs are convertible into equity shares anytime after 3.5 years from date of issue. If FCCBs are not converted, they are repayable between fifth and seventh year from date of issue.

Nitesh Estates Ltd has signed a joint development agreement for approximately 3 acres site off Cunningham Road, Bangalore, for mixed use development for office, high-end residential and retail segments. The project will give a turnover of Rs 400 crore and will have significant cash flow and rental income to the company.

Punj Lloyd Ltd has said that group company Sembawang Engineers and Constructors Pte Ltd (Sembawang) in Singapore has, through its subsidiary Sembawang Development Pte Ltd, signed an agreement to acquire a 50 per cent stake in a thermal coal mine company in Central Kalimantan, Indonesia. The mining company holds a coal IUP licence and the concession has currently estimated resources of 134 million MT and potential in situ reserves calculated at 57 million MT.

Som Distilleries & Breweries Ltd has said that Commercial Tax Department of Madhya Pradesh has accorded permission to expand beer manufacturing capacity from 2.92 lakh hectolitres to 9.92 lakh hectolitres per annum. The company is going to achieve this capacity expansion soon and capacity expansion up to 6 lakh hectolitre has already been achieved.

Tata Power Company Ltd has, through its Strategic Electronics Division (SED), been awarded an order to modernise the airfield infrastructure of Indian Air Force (IAF) by the Ministry of Defence (MoD). The programme, known as Modernisation of Airfield Infrastructure - Phase I (MAFI-I), is of strategic importance and aims to improve capability of the airfields to handle the modern combat air fleet being inducted by IAF.

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