·Corporation Bank issues 15.66
cr preferential shares to Govt
State lender
Corporation Bank has said that it has approved the issuance of over 15.66 crore
shares on preferential basis to Government valued at about Rs857 crore. The bank
also approved to issue over 2.8 crore equity shares to LIC worth over Rs142.99
crore. 'The meeting of the shareholders resolved and approved, to issue
15,66,15,497 equity shares at an issue price of Rs54.72 per share, to the
Government i.e. the promoter,' the bank informed.
· SSWL intimates on $ 2 million
investment by Kalink Co.
Steel Strips
Wheels Ltd ( SSWL) announced that Kalink Co. have confirmed that it will
subscribe SSWL's equity shares @ Rs640 per shares for investment of $ 2
million. The Board of Directors of SSWL will consider the same in the ensuing
board meeting to be held in October, 2015.
· Suzlon commissions 100.8 MW
wind power turnkey project
Suzlon Energy
has announced that it has completed the commissioning of 100.8 MW wind power
turnkey projects for CLP India, one of largest foreign investors and one of the
largest wind power developers in the Indian power sector. The project will
provide electricity to over 50000 homes and curb ~ 0.21 million tonnes of CO2
emissions annually. Suzlon will offer operations and maintenance for 20 years
through an integrated service package contract.
· Maruti Suzuki to hike wages
for temporary workers too
Maruti Suzuki is
expected to offer a wage hike to its temporary workers also. The company
recently hiked wages for permanent workers and the temporary workers have been
demanding a similar increase.
· Strides Arcolab to raise Rs
1,500 crore
The board of
directors of Strides Arcolab has approved the proposal to raise long-term funds
by way of issue of GDRs/ADRs /FCCBs/ QIP or such other equity linked
instruments for an amount up to Rs1,500 crore including a green shoe option.
· L&T Infotech files draft
with SEBI for IPO
Larsen &
Toubro Infotech, a subsidiary of L&T has filed draft red herring prospectus
with the SEBI for IPO yesterday. The issue comprises of an offer for sale of up
to 1.75 crore equity shares of the face value Re1 each by Larsen & Toubro.
– Positive for L&T due to potential value unlocking.
· Wagon makers reject Railways
dual pricing formula
Wagon makers
reject Railways dual pricing formula-continued logjam sentimentally negative
for wagon makers like Texamaco and Titagarh.
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