Securities and Exchange Board of India (Sebi) has cleared Syndicate Bank's proposal for a Rs 125 crore public issue at par, along with two other rights offers amounting to Rs 194.63 crore during the week ended September 10. Sebi has also cleared an equity sale offer of Vintage Cards and Creations Ltd at a consideration of Rs 225 per share amounting to Rs 28.36 crore, the regulator said in a statement.

The rights issues of International Bestfoods Ltd (IBL) and Henkel SPIC India ltd (HSIL) priced at Rs 195 and Rs 40 to 48 (flexible) respectively were cleared by the regulator. The issue size of IBL was Rs 46.97 crore. The rights issue of HSIL was allowed in the range Rs 147.66 crore and Rs 177.20 crore, it said.

UTI chief bullish over markets

PS Subramanyam, chairman of the Unit Trust of India, by far the largest mutual fund in the country, has said that he is bullish about the stock market and the rally in the infotech shares is in tune withthe global valuations. "I am optimistic and bullish on the market. It will certainly group after the election results and formation of the new government," Subramanyam said in New Delhi yesterday at a function..

DSE appoints HDFC Bank for clearing

Delhi Stock Exchange have appointed HDFC Bank as official clearing bank for the stock exchange. Stock Exchange members who have multiple memberships at the major exchanges can now deal with one bank for all their requirements.

The stock exchanges also benefit via automated electronic interfaces set up by the HDFC Bank for the weekly settlement, a release for the bank said.

Tata MF to launch index fund

Tata Mutual Fund is planning to launch an index fund in the current fiscal based on the BSE's 30-scrip sensitive index. "We have thought about it and we will be taking a proposal to the board soon," TMF managing director KN Atmaramani said. TMF is on the verge of entering into a formal marketing agreement with Bank of Madura for marketing itsschemes in the south, while it is holding talks with Hong Kong and Shanghai Banking Corporation (HSBC) for a similar arrangement here.