The Hindu : Business : Patni to issue ADRs

Online edition of India's National Newspaper
Tuesday, Feb 22, 2005

Business

Business

Patni to issue ADRs

NEW DELHIMUMBAINEW DELHIMUMBAI, FEB. 21.FEB. 21.FEB. Patni Computer Systems today said that it would raise up to $150 million additional capital through the issue of American Depository Receipts. The board of directors, in a meeting held on February 19, approved the raising of the additional capital through ADRs, the company informed the Bombay Stock Exchange. The proposal is subject to shareholders and regulatory approvals, it added. — PTI

ICICI Bank bond issue

NEW DELHIMUMBAINEW DELHIMUMBAI, FEB. 21.FEB. 21.FEB. ICICI Bank will hit the market with its second public offering of unsecured redeemable bonds aggregating Rs. 400 crores with a right to retain over-subscription of up to Rs. 400 crores on February 28. The issue would close for subscription on March 9, ICICI Bank said in a release here today. — PTI

Subex to raise

$1.5 m

NEW DELHIMUMBAINEW DELHIMUMBAI, FEB. 21.FEB. 21.FEB. Subex Systems said today that it would raise $1.5 million through the issue of Foreign Currency Convertible Bonds (FCCBs). The board of directors have allotted 2.30 lakh equity shares of Rs. 10 each at a premium of Rs. 290 each to Merrill Lynch Capital Markets Espana S.A.SV to be converted as FCCBs of nominal value $1.5 million, the company informed the Bombay Stock Exchange. The board has also accepted the resignation of Alex P. J. from executive directorship of the company with effect from February 3, but he will remain as a director on the board of the company, it added. — PTI

UTV IPO oversubscribed

NEW DELHIMUMBAINEW DELHIMUMBAI, FEB. 21.FEB. 21.FEB. The initial public offering of UTV Software Communications has received bids for 97.53 lakh shares from investors against the issue size of 69.99 lakh shares after the bidding opened today. The price band for 100 per cent book-built issue is Rs. 115-130. Most of the bids have been at Rs. 130, the higher end of the price band, according to the latest cumulative bid data available with the Bombay Stock Exchange. The cumulative data consists of information collated from BSE and National Stock Exchange (NSE). — PTI

Printer friendly page
Send this article to Friends by E-Mail

Business