RAIN CALCINING - THE SHAPING OF A FAILED ISSUE
Article Abstract:
Rain Calcining (RC) had entered the capital market in February 1997 to raise Rs38.50 crore. Nearly 50 percent of the issue were subscribed and the rest was contributed by the underwriters to rescue the issue. These underwriters included IDBI (Rs7 crore), SBI Capital (Rs2 crore), IRBI (Rs2 crore), SBI (Rs3 crore), Exim Bank (Rs3 crore) and Canara Bank (Rs1.50 crore). The proceeds of the issue were to be used for part-financing the Rs281 crore calcined petroleum coke (CPC) unit having a capacity of 250,000 tonnes per annum (tpa). RC has raised the capacity to 300,000 tpa. The project cost has been revised to Rs346 crore. RC plans to go in for a fresh issue of equity and loans. (gs)
Comment:
Enters the capital market in 2/97 to raise Rs38.50 crore to part-finance Rs281 crore calcined petroleum coke unit
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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RAIN CALCINING
Article Abstract:
Rain Calcining Ltd (RCL) is the joint venture of Houston Industries Energy Inc, AIMCOR and International Finance Corporation and USA-based non-resident Indians. It has an installed capacity to produce 3 lakh tonnes per annum (tpa) of calcined petroleum coke. The production is yet to start in the 100 percent export-oriented unit. RCL will have a tax holiday of 5 years from the date of commercial production. The public has 7.51 percent stake and the foreign holding is 70 percent in the company. Its equity is Rs89.27 crore. (rk)
Comment:
Has an installed capacity to produce 3 lakh tonnes per annum of calcined petroleum coke
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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WIPRO PLANS PREFERENCE SHARE ISSUE
Article Abstract:
Wipro Ltd plans to float 2.5 crore preference shares of Rs10 each to increase its authorised share capital from Rs46 crore to Rs71 crore. At present, the paid-up capital of the company amounts to Rs45.83 crore and the authorised capital is at Rs46 crore. Around $250,000 is to be invested in Wipro (Europe) Plc which will come up in the UK and will develop software. In its Japanese venture, Wipro Nihoh, an investment of $1 million is envisaged. (gsh)
Comment:
Plans to float 2.5 crore preference shares of Rs10 each to increase authorized share capital from Rs46 crore to Rs71 crore
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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