Infy ADR issue opens for conversion
Bangalore: Infosys Technologies Ltd's secondary sponsored offering of American Depository Receipts (ADRs) against Indian equity shares opened on Monday. The company plans to convert about 16 million shares or six per cent of its underlying local shares into equivalent ADRs.

The scheme allows local shareholders to tender their shares, which will then be converted into ADRs at a price to be determined later
Post-issue, the total float of Infosys shares on Nasdaq will increase to about 14 per cent of its equity capital. The offer closes on May 19.
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Saksoft makes strong debut on the NSE
Mumbai: Saksoft Ltd, which listed its shares on the NSE on Monday, opened at Rs57.70 and closed at Rs108.30, which was 261 per cent more than the issue price.

The issue of 25 lakh shares of Rs10 each at a premium of Rs20 had closed for subscription on April 7.

Saksoft Ltd, a software service company with focus on banking and financial services segment, has two development centres, one in Chennai and the other in Noida.

The company had reported a net profit of Rs3.07 crore for the first half of last fiscal ending September 30, 2004.
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Ramco Systems opts for rights issue
Chennai: The board of directors of Ramco Systems has decided to raise further capital by issue of equity shares on rights basis for an amount not exceeding Rs75 crore.

The board has also constituted a committee and delegated the necessary powers to it to decide about the size, timing, basis of offer, premium and other modalities of the proposed rights issue, the company said in a release to the Bombay Stock Exchange.
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