January 2010
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Minda Industries approves preferential issue to Motilal Oswal PE

Minda Industries Ltd has announced that the Board of Directors of the Company at its meeting held on January 11, 2010, inter alia, have approved the fund raising proposal unanimously and recommended for Shareholders' approval at their Extra Ordinary General Meeting to be held on February 03, 2010. The Board approved Preferential Allotment of 1,83,500 (One Lac Eighty Three Thousand Five Hundred), 3% Cumulative Compulsorily Convertible Preference Shares having a face value of Rs. 2187 each, to India Business Excellence Fund I (a Public Limited Life Company, established under the laws of Mauritius) […]

January 12th, 2010

Bharti Takes Control of Warid in First Acquisition

Bharti Airtel Ltd., India’s largest mobile-phone operator, agreed to acquire a 70 percent stake in Warid Telecom in its first overseas acquisition. Bharti, controlled by billionaire Sunil Mittal, will invest $300 million and take management control, the New Delhi-based company said in a statement today. Privately held Dhabi Group will retain a 30 percent stake, it said. The investment is the biggest by an Indian company in neighboring Bangladesh. Bharti was India’s second-worst performing benchmark stock last year as competition from Vodafone Group Plc and NTT DoCoMo Inc. cut revenue and a $23 billion merger with South Africa’s MTN Group Ltd. collapsed. Dhaka-based Warid has 2.92 million subscribers, matching the number of users that Bharti adds in India in a single month. […]

January 12th, 2010

Moser Baer India to raise $100 mn

Optical storage devices manufacturer Moser Baer India today said it will raise USD 100 million (about Rs 454 crore) by various fund raising routes, from national and international markets. The company’s board of directors at their meeting held on January 11 have decided to raise funds for an amount up to USD 100 million, Moser Baer India said in a filing to the Bombay Stock Exchange. […]

January 12th, 2010