2. Preapred By: Deepak Bansal, MBA-2A, PCTE
Private Equity Stars may team up
Three leading US based private equity firms- Carlyle,
Kohlberg Kravis & Roberts and Warburg Pincus are
likely to acquire an effective stake of 15-18% in “HERO
HONDA Motors”
Discussions with three PE firms to sell 60-70% stake in a
special purpose vehicle to fund the acquisition of
Honda’s 26% shareholding and it is likely to be
completed in two phases.
3. Preapred By: Deepak Bansal, MBA-2A, PCTE
IOC may hit Street in Jan
Indian Oil Corporation is going to issue largest-ever
equity offer in the country of around Rs 19,000 crore in
month of Jan, 2011
For raising the money company will start short listing
merchant bankers in the next week for this issue offer
Oil ministry has already circulated a notice to sell 10%
stake by the government i.e. disinvestment of around Rs
40,000 crore
4. Preapred By: Deepak Bansal, MBA-2A, PCTE
CIL gets 34% subscription
COAL India’s initial public offering received bids for 34%
of the offer on the first day with three to go
According to National Stock Exchange data, Investors
(Mostly Institutional) bid for 21.3 crore shares and Indian
IPOs seeking for highest bid on the last day of the IPO
Retail Investors bid for 0.023 times the shares reserved
for them while Institutional Investors bid for 0.046 times
the shares reserved for them on the first day
5. Preapred By: Deepak Bansal, MBA-2A, PCTE
Direct Tax rises 19% in H1
Direct tax collections rose 19% in the six months ending
on September increasing the chances of government to
raise the budgeted figure
With IOC expected to hit the market late this year the
government looks comfortably placed to raise the
budgeted Rs 40,000 crore from stake sales in public
sector firms
Government managed to raise Rs 1,81,758 cr during
current year as compared to Rs 1,52,625 cr in the last
year
6. Preapred By: Deepak Bansal, MBA-2A, PCTE
DDA to seize bank guarantee of EMAAR
MGF
DDA to seize the developer’s bank guarantee of Rs 183
Crore and initial legal action against the EMAAR MGF for
deficiencies in the development of the project of
developing game village
Besides the deficiencies in the project developer also
were not able to meet the deadline given for the project.
According to norms of the project if there is any delay in
the project then developer will pay 15lakh per day for 15
days and 20lakh per day after that till the date of
achievement.
7. Preapred By: Deepak Bansal, MBA-2A, PCTE
China Grows slowest in a year
China Government said its economy expanded 9.6% in
the three months to September
World bank had pared China’s growth forecast for 2011
to 8.5% just a shade below its projection of 8.6% for
India. If it goes true then India will for the first time
become the fastest growing economy among large
economies
However it is expected that India could overtake China’s
growth rate by 2013 and expected to be ahead from
2015 onwards.
