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The ₹475-crore rights issue from State Bank of Travancore, which bagan on March 17, will close on Tuesday for subscription.
The Bank offered 1.185 crore shares at ₹400 a share to the existing shareholders in the ratio of one equity share for every five held. As on December-end 2014,
SBI held 78.91 per cent stake in SBT while domestic funds held 2.74 per cent and FIIs 1.99 per cent. About 58,000 small investors hold 13.88 per cent stake in SBT.
Universal Cables board meets for rights issue
Universal Cables, an MP Birla group company, is likely to see investor attention as its board meets on Tuesday to consider rights issue.
The amount, entitlement ratio and pricing will be monitored closely by market particpants. Universal Cables reported net loss of ₹19.75 crore in Q3 December 2014 compared with net loss of ₹9.03 crore in Q3 December 2013.
However, total income rose 13.4 per cent to ₹172.32 crore (₹151.93 crore).
PI Industries: gets Court nod for merger
The Jodhpur High Court has approved the merger of PI Industries with its promoter entity, Parteek Finance & Investment Co.
Accordingly, Parteek Finance will be allotted 7.385 crore shares of the company. Post merger, the individual promoters of PI Industries will directly hold shares in the company instead of a holding firm.
FIIs hold 17.92 per cent stake in PI Industries while DIIs 8.53 per cent and retail investors 7.41 per cent.
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