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: ABG open offer for Great Offshore on Dec 3

ABG Shipyard on Friday said its open offer for 32.12% stake in offshore drilling firm Great Offshore will now commence on December 3. In a filing to the BSE, ABG Shipyard, which had earlier made an open offer at Rs 520 a share, said its plans to acquire over 1.25 crore shares in Great Offshore. It will begin on December 3, 2009, instead of the previously scheduled August 13, 2009.

BSNL cuts web con tariff

Public sector telecom behemoth Bharat Sanchar Nigam Ltd (BSNL) on Friday announced a heavy reduction in web conferencing tariffs. BSNL Web Conferencing Service is a new value-added service provided to its broadband subscribers powered by the A3Connect technology from Communication Expert Private Ltd. BSNL Web Conferencing rates will now be available at Re 1/per minute or even at lower rates. A new unlimited plan has been introduced for heavy users.

Hindalco closes QIP

Hindalco Industries, the flagship company of Aditya Birla Group, on Friday said it has fixed Rs 130.90 apiece as the issue price for qualified institutional placement (QIP) of its equity shares. The company has fixed November 26 as the closing date of the issue and Rs 130.90 per share as the issue price, Hindalco said in a filing to the Bombay Stock Exchange. The company proposes to issue 21.31 crore equity shares to raise Rs 2,790 crore.

Greaves Cotton foray

Greaves Cotton, a manufacturer of engines and construction equipment, has entered the earth-moving segment with the launch of its wheeled loader CG 932 H. It has also tied up with Mitsubishi Heavy Industries, Japan, to market its range of motor graders in India.

Samsonite revenue

US-based travel bags maker Samsonite on Friday said it expects revenues from India to touch Rs 1,000 crore by 2015, for which it will double the number of its outlets to about 500 in the next five years. The company, which is present in India as a joint venture, Sampain Sales, with one Dr Tainwala, is aiming for a turnover of Rs 400 crore in 2009.

Suzlon unit bags order