ABN AMRO's Opportunities Fund collects Rs425 crore
Mumbai: ABN AMRO Asset Management (India) Ltd has said that the IPO of ABN AMRO Opportunities Fund, which closed on March 30, has been subscribed to the tune of approximately Rs425 crore, receiving subscription from nearly 30,000 investors.

"We launched ABN AMRO Opportunities Fund after establishing a commendable performance track record in our flagship equity fund, ABN AMRO Equity Fund. The IPO has received enthusiastic support from most retail distributors demonstrating their commitment to support our mutual fund," Mr Nikhil Johri, Chief Operating Officer - ABN AMRO Asset Management (India) Ltd, said in a company press release.
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Times group dilutes stake in Mid-Day
Mumbai: Bennett, Coleman and Co, publishers and owners of the Times of India, has diluted its holding in Mid-Day Multimedia, with Banhem Financial & Investment Consultants Ltd, a group company of Bennett, Coleman and Co, selling a total of 6.96 per cent of its holding in Mid-Day in the open market following the Indian Express deal.

Currently, Bennett, Coleman and Co's holding in Mid-Day is 4.95 per cent. The Indian Express had acquired a ten per cent stake in Mid-Day from the Ansari family, promoters of the media company.

According to the filings made with the stock exchanges, Banhem sold 13.88 lakh shares (3.26 per cent of the company's equity) on March 4, a day after Indian Express acquired 10 per cent stake. Banhem again sold 15.76 lakh shares (3.70 per cent) in the company this month.

Bennett, Coleman and Co's holding in Mid-Day was through Banhem and Dharmayug Investments. In November last year, Banhem had acquired 32.86 lakh shares (7.72 per cent stake) in Mid-Day through open market purchases.

The sale of these shares has brought good returns to Banhem as the shares bought by it in November last year were purchased around Rs33 and the average sale price is more than Rs75.Currently, the Mid-Day stock is trading at Rs74.
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Shringar Cinemas IPO priced at Rs53 per share
Mumbai: Shringar Cinemas Ltd has fixed the price of its public issue of 81.5 lakh shares at Rs53 per equity share. The initial public offering closed on April 11 and has been subscribed 8.26 times.

The company plans to use the net proceeds of the issue to create infrastructure for its growth and to enable it consolidate its position in the existing markets and to make in-roads into new markets. The company is planning to open multiplexes in Thane, Hyderabad, Aurangabad and Kolkata.

The issue was entirely through a 100 per cent book-building process.
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Strides EGM clears FCCB issue of $40 mn
Bangalore: Strides Arcolab Ltd has informed the BSE that its EGM, held on Tuesday, has approved the issuance of $40 million (about Rs170 crore) worth of FCCBs, or such other similar securities including a green shoe option.

The board has also approved a proposal to raise funds of up to Rs55 crore through the issue of cumulative redeemable preference shares by way of funding the company's R&D expenditure.

The company would finalise the terms, size and details of this issue and also the date for convening an EGM to seek shareholder approval for this proposal.
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