DHANALAKSHMI PLANS CAPITAL RECAST TO TIDE OVER SHORTFALL
Article Abstract:
The Dhanalakshmi Bank of Thrissur in Kerala proposes to restructure its finances to overcome the shortfall in subscription to its Rs40-crore public issue. This proposal has been presented to the Reserve Bank of India. The public issue was at a premium of Rs40 per share. Due to the depressed market conditions, only a portion of the issue price has been collected with the investors not willing to pay the balance. Instead of waiting to collect the money, the bank intends to allot shares on a pro rata basis. To overcome the problem of odd lot shares, the bank plans to appoint an agency which would allot shares in tradable lots, sell them and pay the money to the shareholders. The pre-issue equity was Rs10 crore and now it is Rs16 crore. (uh) (kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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BALAJI DISTILLERIES TO RAISE $82 M VIA ECB/FCCB
Article Abstract:
Balaji Distilleries Ltd (BDL) is planning to mobilise $82 million or Rs340 crore by external commercial borrowing (ECB) and foreign currency convertible bonds (FCCB). The ECB is likely to end in March 1999. It has started a road show in Europe to mobilise $32 million from FCCB. FCCB will be completed in February 1999. The money raised from ECB and FCCB will be used for capital expenditure and on alcohol business in states other than Tamil Nadu. (rk)
Comment:
Balaji Distilleries Ltd (BDL) is planning to mobilise $82 million or Rs340 crore by external commercial borrowing (ECB) and foreign currency convertible bonds (FCCB).
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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