The DSP Merrill Lynch Balanced Fund has mopped up Rs 102 crore in the initial offer period of the scheme, which was open for subscription from May 3 to May 14, 1999. The fund is expected to reopen for subscription in two weeks time. With this the assets under management of DSPML Mutual Fund have risen to Rs 670.47 crore as on May 18, 1999.

OTCEI declares 11 dealers defaulters

OTCEI has declared 11 dealers defaulters wef May 18, 1999 as per the provisions of chapter XIV of the byelaws of the exchange stated a press released issued on May 19. The names are as follows: HAJ Financial Services Pvt Ltd, Hindustan Holdings, Right Corporate Services, Worldlink Finance, Jacob Cherian, Kartik Securities Pvt Ltd, Mehta Securities, Spotmarkets Securities Pvt Ltd, Crystal Capital Trust Pvt Ltd, 21st Century Management Services and Binani Stockland Ltd.

BSE move to curb fake shares

In a move to curb the fake, forged and stolen share menace, the BombayStock Exchange has decided to maintain an updated database with the exchange and also to send photocopies of some transfer deeds from the payout lots to the companies for verification. With this, the exchange intends to fortify its investor-friendly actions in building a fair market free of all such menaces.

Xerox Modicorp offer to acquire shares

Modi Xerox has intimated the BSE that Xerox Modicorp intends to make a voluntary offer to shareholders of Modi Xerox to acquire from them up to 64,54,552 equity shares representing about 23.50 per cent of the share capital at a price of Rs 135 per equity share. Xerox Modicorp does not hold any equity shares in Modi Xerox.