BEML public offer subscribed more than 3 times
Mumbai: Defence PSU, BEML's, follow-on public offer was subscribed over three times on its third day of issue. The issue received bids for 1.51 crore shares for its offer of 49 lakh equity shares, according to the latest data available on the exchanges.

The issue, which closes on July 3 and is expected to raise up to Rs534 crore was fully subscribed on the first day of the issue. The price band of the offer has been fixed between Rs1,020-1,090. The proceeds of FPO would be used to part-finance the company's Rs900 crore capex programme over a period of three years.
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Lanco Global receives open offer for 20 pc stake
Mumbai: Lanco Global Systems has received an open offer from various investors for buying 20 per cent stake in the company for Rs22.27 crore.

The acquirers and persons acting in concert made the open offer to shareholders of Lanco Global to acquire 50.84 lakh shares at Rs43.80 per share, the company said in comunique to the Bombay Stock Exchange.

The offer would remain open from August 17 and close on September 5.
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HDIL initial public offer fully subscribed
Mumbai: Real estate developer, Housing Development and Infrastructure's initial public offer got fully subscribed on its third day on Monday. The issue is expected to collect about Rs1,485 crore. The latest data available on the exchanges showed that the issue received bids for 3.9 crore shares for its offer of 2.97 crore equity shares getting subscribed 1.31 times. The price band of the offer that would close on July 3 has been fixed between Rs430-500.

The proceeds of the IPO would be utilised for part-financing land acquisition f or development of the company's ongoing projects.
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Subhash Projects to raise Rs250 crore
Mumbai: Subhash Projects & Marketing plans to raise up to Rs250 crore through the issue of equity shares and warrants. The company plans to issue up to 81,63,265 shares at a price of Rs245 each and up to 20,40,816 warrants at an exercise price of Rs245 each, it said in a statement.
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Gemini to raise 15mn euros through FCCBs
Mumbai: Gemini Communications has issued 6 per cent Foreign Currency Convertible Bonds (FCCB) to Merrill Lynch to raise about Rs80 crore. The offering was fully subscribed and the conversion price for the bonds has been fixed at Rs513 per equity share, a premium of 25.43 per cent on Friday's closing price of Rs409, a company's statement said here.

The bond will mature by 2012 and the yield to maturity on the bonds would be 6.99 per cent and the bonds will be traded on the Luxembourg Stock Exchange, the release said.
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NCL Industries to raise $20mn via FCCBs
Mumbai: NCL Industries plans to raise $20 million through the issue of Foreign Currency Convertible Bonds.

The board of directors has approved the FCCB issue and the proposal to raise an amount of Rs15 crore by preferential issue of warrants to promoters, convertible into shares at Rs45 per share, the company informed the Bombay Stock Exchange.

The board also approved a project to set up a facility for the manufacture of 3000 tons per day clinker at Mattapally and two 2000 tons per day grinding units at each at Mattapally and Kondapally respectively.

This is in line of the project for manufacture of 1800 TPD clinker and 2500 TPD grinding unit approved earlier.

The cost of project is estimated to be Rs300 crore, to be financed by promoters' equity and internal accruals (Rs70 crore) and a combination of FCCBs, and external and domestic borrowing aggregating to Rs230 crore, it said.
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Deccan to allot over 3.52-cr shares to Kingfisher Radio
Mumbai: Deccan Aviation will allott over 3.52 crore shares to Kingfisher Radio for Rs546 crore.

The allotment works out to Rs155 per share, Deccan informed the Bombay Stock Exchange.

Accordingly, the paid up capital of the company has increased to Rs135.47 crore, comprising more than 13.54 crore equity shares of Rs10 each.

Last month, Vijay Mallya-led UB Group had announced acquisition of 26 per cent in Deccan Aviation for Rs546 crore and had later also made an open offer to the shareholders to buy an additional 20 per cent stake for about Rs420 crore.

Kingfisher Radio, a wholly-owned subsidiary of United Breweries Holding, made the offer for acquiring 2.70 crore shares of Deccan Aviation at a price of Rs155 per share.

Also, at an extraordinary general meeting held on June 26, Deccan's shareholders approved the increase in authorised share capital from Rs125 crore to Rs150 crore.
The present authorised share capital of the company is Rs150 crore. Shares of Deccan Aviation closed at Rs139.60, up 1.42 per cent, on the BSE today.
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UTI MF to float public issue by the end of FY08
New Delhi: UTI Mutual Fund is likely float a public issue by the end of current fiscal and has already got the approval from its board for the IPO.

UT Mutual Fund has also received in-principle approval from its four sponsors and is working out the modalities for the public offer.

UTI Mutual Fund sponsors comprise State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India holding 25 per cent stake each.

Besides, the fund house plans to ramp up branch network from existing 74 to 100 by the end of this fiscal.
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