Mumbai, June 27: DSP Merrill Lynch Ltd (DSPML) has announced 113 per cent higher income at Rs 196.59 crore for the year ended March 31, 2000.The net profit increased by over 173 per cent to Rs 58.98 crore from Rs 21.59 crore in the previous year despite a quantum jump in interest provision to Rs19.61 crore.Hemendra Kothari, chairman of DSPML, said: "Our close cooperation with our joint venture partners has resulted in providing increased value for all our clients." Among the major deals managed by DSPML in 1999-2000 were the largest tier II bond issue for Union Bank of India and the Indian Oil borrowing programme via the book building route. On the equity side, it lead managed three of the four book building issues including Cinevista Communications Ltd. It also facilitated IPOs of Glenmark Pharmaceuticals Ltd and Shree Rama Multi-Tech Ltd.
DSPML lead managed all the five international issues of Indian companies aggregating $826 million including Satyam Infoway ADR, ICICI and ICICI Bank ADRs besides the GDR offering of SSI Ltd to finance its joint venture with Nasdaq. In the merger and acquisition segment, it managed major deals like the Hindalco-Indal merger, acquisition of Mphasis Corporation by BFL Software (the first share swap deal in India) and the Indian Rayon acquisition of Madura Garments Ltd.
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