TDICI INVESTS Rs2 Cr IN VALUE SOFTWARE
Article Abstract:
TDICI Ltd, the venture capital arm of ICICI Ltd, has privately invested Rs2 crore in Value Software Pvt Ltd (VAST) of Chennai. VAST is a turnkey software project service firm promoted by a group of entrepreneurs led by Mr T Kannan Jagan. The investment has been made in two parts - Rs1 crore as cumulative convertible preference equity offering 16 percent dividend and Rs1 crore as non-convertible debentures (NCDs) with 19 percent returns. The preference shares will be converted into equity after one year at a negotiated premium and the NCDs will be redeemed after three years in three equal installments. VAST will utilise the funds to expand its software facilities in India and strengthen its presence in the US and European countries. (gsh)
Comment:
Privately invests Rs2 crore in Value Software of Chennai, India
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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BARING'S OPEN OFFER FOR BFL SOFTWARE FAILS
Article Abstract:
The open offer made by Baring India Investment Ltd (BIIL) to acquire a 20 percent stake in BFL Software has not succeeded. The open offer, which was made at Rs135 per share, attracted only 200-300 shares. The BFL scrip touched a high of Rs408 recently and closed at Rs322.25 on June 8, 1998. BIIL has acquired 15 lakh shares, accounting for 25 percent of the company's equity, from its promoters, the Bangurs. (khr)
Comment:
Open offer made by the company to acquire a 20% stake in BFL Software has not succeeded
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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