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Market briefing
Bank of Rajasthan offers depository service
The Bank of Rajasthan today announced introduction of depository services for its customers and has tied up with Central Depository Services (India) Ltd. To begin with, the bank will offer this service at its Fort Branch in Mumbai and the M.I.Road branch in Jaipur. Subsequently, the bank plans to extend its depository services to other branches in Delhi, Calcutta, Chennai, Bangalore, Hyderabad, Chandigarh, Coimbatore, Indore apart from the other centres in Rajasthan such as Udaipur, Jodhpur, Kota, Bhilwara, Bikaner etc.IFCI closes private placement
IFCI has closed its private placement of bonds series XXXVII on September 14. The issue generated over Rs 155 crore as against the issue size of Rs 100 crore. IFCI has decided to retain the entire oversubscription. The issue opened for subscription on August 1, 2000 and offered three options of 5 year, 7 year an 10 year maturities with coupons of 12.6 per cent, 12.9 per cent and 13 per cent per annum. First Global status upgraded
First Global Finance Private Limited (FGF), the wholly-owned subsidiary of First Global Stockbroking Private Ltd, has been granted registration as a Category 1 merchant banker by the SEBI. The company will now be managing public issues of corporate clients. The other focus area will be giving advisory services on mergers and acquisitions to its clients. The company placed Rs 735 crore worth of equity of HFCL with foreign institutional investors (FIIs). The exercise had attracted bids worth Rs 14000 crore ($3.2 billion) which was 19 times the placement size. FGF has a team of 5 merchant banking professionals and 17 equity research analysts on its rolls. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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