SPIC SHIFTING MAJOR INVESTMENTS TO SHIL
Article Abstract:
Southern Petrochemical Industries Corporation Ltd (Spic), a fertiliser producer is offloading its major investments in favour of Spic Holdings and Investments Ltd (SHIL), a wholly owned subsidiary. Spic has already transferred investments worth Rs9.4 crore to SHIL in the first phase. The investments transferred include 686,000 shares of Industrial Development Bank of India, 18,000 shares of Bank of India and unquoted long-term investments. Spic has also transferred 20 equity shares in Spic Foods and Flavours Ltd. SHIL allotted 99 lakh equity shares of Rs10 each to Spic as a part of the transfers by Spic. (ag)
Comment:
Is offloading major investments in favor of Spic Holdings & Investments wholly owned subsidiary
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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GMM REVISES OFFER PRICE TO BUY NILE SHARES
Article Abstract:
Karamsad Holdings Ltd (KHL), a 100 percent subsidiary of Gujarat Machinery Manufacturers Ltd (GMM), has revised its offer price to acquire equity shares in Nile Ltd to Rs50 from Rs40 per share. This offer is open to shareholders who have already tendered their shares from June 4, 1998, the opening day of the open offer. The offer is to close on July 3, 1998. KHL had made an open offer to acquire a 20 percent stake in Nile Ltd. Sources say that KHL has acquired 37,000 shares, which represents over 1 percent of Nile's equity of Rs2.99 crore. (khr)
Comment:
Revises offer price to acquire equity shares in Nile to Rs50 from Rs40 per share
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ITC OUTFIT BOUGHT UP CLASSIC SHARES AT A STEEP PRICE
Article Abstract:
Summit Investments Limited (SIL) is said to have raised its stake in the former ITC-Classic Finance Ltd (ICFL) at a very high price in 1997-98. SIL is said to have bought about 22 lakh shares of ICFL by paying more than 3 times the highest level attained by the scrip. It is said to have paid over Rs78 per share for acquiring the shares during 1997-98 when the scrip price had not even crossed Rs23 per share. SIL now holds about 85.19 lakh shares in ICFL. (ag)
Comment:
Is said to have raised its stake in the former ITC-Classic Finance at a very high price in 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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