ABCL plans an IPO, after the worst is over
New Delhi: After trading charges with the erstwhile professional managers for mismanaging the company, and going through a very rough patch, the worst seems to be over for Amitabh Bachhan Corporation Limited, the corporate vehicle of Bollywood superstar, Amitabh Bachhan.

According to a director of the company, which has been rechristened AB Corp, it will retire all dues, including the outstandings to Doordarshan and the income tax department in the next three to four months, to become a debt-free company. The company was also in the process of restructuring its board and inducting new directors.

The company is also said to be contemplating launching an initial public offering as a long-term plan, although, according to sources, the time frame for the same had not been finalised as yet.
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Zandu said to be talking to Novartis for marketing arrangement
Mumbai: Ayurvedic major, Zandu Pharmaceuticals, is said to be close to finalising a contract with Swiss multinational pharma company, Novartis India, for the latter to market a range of ayurvedic formulations in the US and European markets.

According to industry sources the company is planning to enter into a marketing pact with Novartis for marketing products in the nutraceuticals segment. The US market has seen an explosive growth in the nutraceutical segment and many multinationals have tied up with smaller nutraceutical firms in the US. Zandu through its excellent track record on ayurvedic research has developed a few world-class products.

Zandu is the one of the leading ethical formulations company in India in the ayurvedic formulations and has seen high growth levels through exports.
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Hyundai to invest $350m in furthering Indian operations
Hyderabad: According to Mr. AP Gandhi, president of Hyundai Motor India Limited (HMIL), the company has decided to invest a further US $350 million over a period of three years in its second phase to enhance the existing production capacity, introducing new cars and for marketing purpose.

A major chunk of the investment will be used to procure additional equipment, machinery and toolings, and to set up paint shops and assembly lines to enhance the production capacity from 1,30,000 cars to 2,00,000 cars every year.

As part of the investment, the company is said to be planning introducing new models every year and will launch a new car -- Sonata -- in mid-2001.
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