Chandigarh-based mushroom-grower Agro Dutch Foods Ltd has decided to make a preferential allotment of up to 10 lakh equity shares to strategic investors, subject to statutory formalities. The company, in a statement here, said the allotment will be at a premium, which will be much higher than the price that would be payable as per Sebi guidelines. The proceeds of the offer will be utilised for expanding the capacity for mushrooms from 12,000 tpa to 26000 tpa.

Syndicate Bank enters capital market

Syndicate Bank has entered the capital market by launching its maiden public issue of Rs 125 crore. According to a press release by the bank, the bank which had entered its platinum jubilee year was the first among the public sector banks to issue the shares at par. Each share is priced at Rs 10 and Rs five payable on application and the balance on allotment. Application should be for a minimum of 200 equity shares and in multiples of 100 thereafter. The issue was proposed to be listed on the Mumbai, Bangalore and Mangalore stock exchanges and also on the NSE.

Muhurat trading session at NSE

A special "Muhurat" trading session will be held at the National Stock Exchange (NSE) on November 7, 1999 for Diwali. Trading in the special session will start at 1900 hrs and end at 2030 hrs.