One of the major shipyard companies in India, the ABG Shipyard has recently stated that the Ministry of Shipping, Road Transport and Highways has granted it a shipbuilding subsidy of up to Rs 12.79 crore from towards the Yard No 209 & 211. The officials of the Best & Crompton Engineering have recently informed that the board of directors of the company has approved a draft scheme of amalgamation of its wholly owned subsidiary, named the Beacon Weir Ltd. The officials added that amalgamation with the company is being done according to the Sections 391-394 of the Companies Act 1956 and it would be effective from 1st April, 2007.
In a recent move, the Centrum Capital has called for an EGM on 5th April for discussing on offer, issue and allot up to 6,82,810 fully-paid equity shares (face value of Rs 10 each) in the company at a rate not exceeding Rs 1,758 per share. The company is offering the shares at a premium of Rs 1,748 per share that is ranking at an equal rate with the existing equity shares in all respect to the Mauritius based private equity fund, Indivision India Partners. The company is not offering the same to the persons, who at the date of offer are holders of the equity shares of the company, subject to necessary provisions & approvals.
The major automobile company named the Clutch Auto has informed that the Deutsche Securities Mauritius Ltd has recently acquired a umber of 8,98,985 equity shares constituting 5.51 per cent of the paid up capital of the company, from the market. The sources from the Container Corporation of India have stated that the company has fixed the date of 17th April as the record date for the purpose of ascertaining the entitlement of shareholders to bonus shares in the ratio of 1:1. The engineering company named the Era Infra Engineering has recently received a contract from the M/s Central Park Estates Pvt Ltd that is having a total valuation of Rs 86.5 crore for the construction & development of Central Park-II at Sector 48, Sohna Road, Gurgaon.
According to the officials of the HEG Ltd, the Deutsche Securities Mauritius Ltd has recently bought a number of 1,552,399 equity shares of the company from the market. The shares is constituting for a 3.5 per cent of the paid up capital of the company and this acquisition took the total shares held by the Deutsche Securities to 2,257,335 equity shares. The company is currently holding a 5.09 per cent of the paid up capital of HEG Ltd. In a recent statement, the Simbhaoli Sugars has stated that it would hold a meeting of the board of directors on 31st March for considering the reset price for conversion of the zero per cent Foreign Currency Convertible Bonds (FCCBs). The company issued the bonds on 10th March, 2006 and their maturity is on 11th March, 2011 from Rs 170 to Rs 153 per equity share.
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| Posted : 3/20/2008 |
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