Kotak Mahindra, I-Sec book-runners for HCLT
HCL Technologies (HCLT) has announced the appointment of Kotak Mahindra Capital Company and ICICI Securities and Finance Company (I-Sec) as the joint book-runners to the company's upcoming Initial Public Offering (IPO). The company also appointed JM Morgan Stanley and DSP Merrill Lynch as lead managers to the issue, HCLT said in a statement. HCLT is planning an IPO of 14.2 million equity shares, amounting to 10 per cent of its total equity capital, through book-building route, to fund its takeover initiatives in the US and Europe.Canbank MF reserves rise
The schemes of Canbank Mutual Fund have managed to show a positive growth in their reserves to Rs 595 crore during the first half of the current year from Rs 212 crore in the corresponding period last year. Though the total corpus of the funds has come down from Rs 1482 crore to Rs 1227 crore, the total net assets have grown by 10.37 per cent to Rs 1825 crore. During the first half, the fund converted four of its closed ended schemes into open-end schemes including Canexpo, Canbonus, Canpep 93 and Cantriple plus.
Hughes completes IPO allotments
Hughes Software Systems, which hit the capital market with a Rs 275 crore public issue recently, has completed allotment of shares to the public and the share certificates have already been dispatched. "The dispatch of refund orders for the book portion was completed on October 13, 1999 and for the fixed price portion on October 27, 1999," a company statement said on Wednesday. Hughes said the offer of 43,75,000 shares included a book-built portion of 90 per cent, where the subscription crossed a whopping Rs 6,000 crore. The retail portion was fixed at Rs 630 for small investors.
Skindia GDR index up 4.97 per cent
The Skindia GDR Index, representing GDRs of 17 actively trading companies increased by 4.97 per cent from 822.86 to 863.76 on November 2, 1999 as per the Skindia GDR index with a base January 3, 1995 equal to 1000. The Skindia GDR index P/E ratio was 55.34 as compared to 54.85, Skindia Finance, said a press release.
A clarification
In the edition dated November 3, headline for Bank of Baroda's fresh equity issue was erroneously printed as Bank of India. The error is regretted.
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