BusinessLine Twenty Years Ago - Today

| Updated on March 09, 2018 Published on April 09, 2015

april 10, 1995

Preferential shares only at market prices: RBI

The Reserve Bank of India has stipulated that preferential allotment by listed Indian companies to foreign investors should be at market-related prices. The RBI issued new guidelines today to ensure conformity with the norms on preferential allotment to FIIs issued by the market regulator, the Securities and Exchange Board of India (SEBI) last year. These make it mandatory for Indian corporates to follow the guideline on pricing of the SEBI which says that allotment of shares on a preferential basis will have to be on the basis of the highest price of the company’s scrip during the preceding 26 weeks.

Catvision network for steel townships

Catvision Products Ltd would build and operate a cable television system for the steel townships of Jamshedpur and Rourkela. The company has entered into two separate agreements with steel majors Tata Iron and Steel Company (TISCO) and Steel Authority of India (SAIL) for this purpose. The agreements envisage the establishment of a cable television network for over 30,000 households in the townships.

Satellite-linked data buoy project to be launched

The Department of Ocean Development (DOD) will launch a satellite-linked national data buoy project during 1995 with financial support from the Norwegian agency NORAD. The Rs. 35-crore project, with at least a dozen buoys, to be anchored in both coasts, will generate data about the ocean continuously and will be made available online to users. The broad objectives of the project are to create a scientific data base for oceanic parameters necessary for assessing the impact of climate change and global warming, and for helping off-shore construction activities.

Published on April 09, 2015
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