ICICI TO MERGE WITH ANAGRAM
Article Abstract:
Anagram Finance Ltd (AFL), a non banking finance company, will be amalgamated with the Industrial Credit and Investment Corporation of India (ICICI). The swap ratio for the amalgamation is expected to be in the region of 1:10-1:15. Both ICICI and AFL will be calling separate meetings on May 23, 1998, to consider the amalgamation. AFL's financial health may be revived through the infusion of funds. (ag) ------------------------------------------------------------ Financial Performance of Anagram Finance Ltd (Rs in crore) ------------------------------------------------------------ Particulars 1997 1996 ------------------------------------------------------------ Total Income 140.06 142.45 ------------------------------------------------------------ Interest 71.33 71.36 ------------------------------------------------------------ Gross profit 52.72 51.56 ------------------------------------------------------------ Depreciation 48.16 26.70 ------------------------------------------------------------ Tax 0.00 2.25 ------------------------------------------------------------ Net Profit 4.56 22.61 ------------------------------------------------------------
Comment:
Will be amalgamated with Anagram Finance, non banking finance company
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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AFL, ICICI TO COMPLEMENT EACH OTHER
Article Abstract:
The impending merger of Anagram Finance Ltd (AFL) with the Industrial Credit and Investment Corporation of India (ICICI) will result in leveraging the complementary strengths of the two companies. AFL, which is being merged with ICICI, has presence in retail car and truck financing. It has 50 branches in Gujarat, Rajasthan and Maharashtra and a depositor base of 250,000. ICICI is expected to benefit from the merger as AFL will give it a foothold in the western part of India. (ag)
Comment:
Impending merger with Anagram Finance will result in leveraging complementary strengths
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ICICI SET TO TAKE 15% STAKE IN GIIC
Article Abstract:
ICICI, HDFC and Infrastructure Leasing & Financial Services (IL&FS) are expected to acquire a combined 26 percent stake in Gujarat Industrial and Investment Corporation (GIIC) through private placement. ICICI is expected to acquire 15 percent stake while the remaining 11 percent is to be split between HDFC and IL&FS. An evaluation report on GIIC by a financial consulting firm has recommended a price of Rs35 to Rs50 per share. (khr)
Comment:
Is expected to acquire w/ HDFC & Infrastructure Leasing & Financial Svcs combined 26% stake in Gujarat Industrial & Investment
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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