MICROTECH TO OFFLOAD EQUITY THROUGH PRIVATE PLACEMENT
Article Abstract:
Microtech Software of Mumbai plans to offload 15 percent of its equity through private placement in the next few months to collect funds for its expansion plans. The company hopes to corner around Rs12 crore through placement. At present, it has a paid-up equity capital of Rs1 crore with Mr Ahuja holding 80 percent stake and the rest with friends and associates. The representative offices of Microtech in New York in the US and London, UK will be converted into subsidiaries. It also has another office in San Francisco, USA. Microtech has collaborated with Intentia, Sweden and CSE Asia Pacific, Singapore, to market and support their respective software packages, Movex and Helix, in India. (gsh)
Comment:
Plans to offload 15% of its equity through private placement in the next few months to collect funds for its expansion plans
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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DFIs BARRED FROM PVT PLACEMENT OF TAX-FREE BONDS TO INDIVIDUALS
Article Abstract:
The finance ministry has prohibited the issue of tax-free bonds by public sector development finance institutions (DFIs) to individual investors. There are 13 DFIs in the country like the Power Finance Corporation, Power Grid Corporation and Indian Railways Finance Corporation who raise concessional funds to onlend to area specific borrowers. It has been noticed that some of these DFIs have been privately placing tax-free debt with retail investors. (khr)
Comment:
India: Finance min prohibits issue of tax-free bonds by public sector dvlpmt finance institutions to individual investors
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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