DALMIA GROUP TAKES CDC STAKE IN DSQ
Article Abstract:
Dinesh Dalmia Group of Chennai has bought 38 lakh shares held by the Commonwealth Development Corporation (CDC) of UK in DSQ Software Ltd (DSL). The shares have been priced at Rs140 to Rs180. Dalmia group has paid Rs55 crore to Rs70 crore for the acquisition. Its stake in DSL has increased to 53 percent from 34 percent. The scrip price has increased by Rs32.50 to Rs514.25 on the Bombay Stock Exchange. Dalmia group is likely to sell its holding to institutional investors like IndOcean Chase Capital Services, Goldman Sachs. The promoters of DSL are likely to privately place their shares or offer preferential shares to dilute their holdings. DSL shareholders have cleared a proposal to allot 75 lakh equity shares of Rs10 each on preference basis to foreign institutional investors, mutual funds and non resident Indians. (rk)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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CABLETRON SYSTEMS TAKES CONTROL OF DEIL'S NPD
Article Abstract:
The Indian subsidiary of Cabletron Systems (CS) of the US has bought the Network Products Division (NPD) of Digital Equipment (India) Ltd (DEIL). CS had earlier bought the NPD whose revenue is $500 million globally. CS, which gets DEIL's reseller resources, will work with DEIL and IBM to offer networking solutions. CS' business from outside the US is likely to increase from the present 13 percent after the acquisition. CS plans to invest in its European and Asian operations. (rk)
Comment:
Purchases Network Products Division of Digital Equipment of India
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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TROUBLES CONTINUE FOR BFL AS ING BARING STRIKES
Article Abstract:
BFL Software (BFLS) of Calcutta has incurred a net loss of Rs13.4 crore in the 6 months ended March 31, 1998. Sources say that one of its US-based clients has initiated legal action to recover over $2 million as a software installed by BFLS has affected its operations by corrupting its entire database. ING Baring had made a bid to acquire a 25 percent stake in BFLS at Rs135 per share. (khr)
Comment:
Proposes bid to acquire 25% stake of BFL Software at Rs135 per share
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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