SJVN IPO receives subscription of 6.64 times

The Initial Public Offering of SJVN Limited which closed for subscription on May 3, 2010 has received average response from investors with the issue garnering subscription of 6.64 times.

The IPO has received total bids for 2754524000 equity shares against the offer of 415000000 equity shares. The issue has received bids for 326502000 equity shares at cut-off price. The bulk of the bids have come at the upper end of the price band of Rs 26.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 2229445750 equity shares against the offer of 246990000 equity shares resulting in a subscription of 9.0265 times.

Source :www.biginfotech.in

Jaypee Infratech IPO subscribed fully on last day

The Initial Public Offering (IPO) of Jaypee Infratech Limited has subscribed fully at 12:00 Noon IST on May 4, 2010. The IPO opened for subscription by investors on April 29, 2010.

The company has come out with IPO of equity shares aggregating up to Rs. 16,500 million (fresh issue) and an offer for sale of 60,000,000 equity shares by existing shareholders. The equity shares of Rs 10 each is priced in the range of Rs 102 to Rs 117 through 100% book building process.

The IPO has received total bids for 222724350 equity shares against the offer of 221764705 equity shares. The issue has received bids for 9201000 equity shares at cut-off price.

The bulk of the bids have come at the lower end of the price band of Rs 103. The IPO closes for subscription today - May 4, 2010.

Source :www.biginfotech.in

GTL Infrastructure allots options

The committee of GTL Infrastructure in its meeting on 04 May 2010 has allotted 18 lakh options at conversion price of Rs. 30.52 per option, in terms of the Employees Stock Options Scheme 2005 of the company.

Source :www.biginfotech.in

Mahindra Satyam signs deal with BASF IT Services

Mahindra Satyam, the brand identity of Satyam Computer Services has announced signing of an off-shoring deal with BASF IT Services, a BASF Group company. The contract is awarded following a competitive bidding process to enhance BASFS capacity to provide managed services for the company`s extensive installed base of SAP, messaging and groupware as well as user administration.

BASF IT Services conducted an extensive RFP process and selected Mahindra Satyam against strict evaluation criteria and following exhaustive due diligence. The contract based on a 100% outcome oriented model is for three year period with a two times one year extension option.

Source :www.biginfotech.in

Om Metals Infraprojects bags hydro mechanical work for Kalisindh Gravity Dam

Om Metals Infraprojects has bagged a order in the state of Rajasthan for construction of hydro-mechanical works of the Kalisindh Gravity Dam in Jhalawar District.

Om Metals infraprojects will be executing the hydro-mechanical part of the project worth Rs. 206 crore. The scope of activity will include and involve engineering, procurement and construction work, supply, installation, testing and commissioning of hydro-mechanical components. This project is a part of the enhancing energy generation by the Rajasthan State Government.

Source :www.biginfotech.in

Geometric to show CAMWorks 2010 at EASTEC

Geometric will showcase CAMWorks 2010, the latest version of its solid-based CNC programming solution at the EASTEC 2010 exposition to be held at the Eastern States Exposition, West Springfield, Mass from 25 May 2010 to 27 May 2010.

Source :www.biginfotech.in

Nouveau Multimedia to raise funds

The board of Nouveau Multimedia in its meeting on 03 May 2010 has decided to raise funds of Rs. 25 crore by offering, issuing and allotting convertible warrants on preferential basis.

Source :www.biginfotech.in

Welspun Corp`s subsidiaries to acquire majority stake in Saudi pipe and coating facility

Welspun Corp, part of 3 billion dollar Welspun Group through its subsidiaries initiated agreements to acquire majority stake in Saudi Arabia pipe facility and a pipe coating facility. The board of directors has given their approval in a meeting held on 04 May 2010. This investment would be subject to regulatory approvals and statutory compliances in both India and Saudi Arabia.

Source :www.biginfotech.in

Educomp Solutions to announce Q4 results

The board meeting of Educomp Solutions will be held on 13 May 2010 to consider and approve the un-audited financial results of the company for the quarter ended 31 March 2010 (Q4).

Source :www.biginfotech.in

McNally Bharat Engineering secures orders from Konkola Copper Mines

McNally Bharat Engineering Company has received orders for West Mill Copper Concentrator Plant and East Mill Flotation Circuit from Konkola Copper Mines, PLC in Nehanga, Zambia for a total value of Rs 113 crore.

Source :www.biginfotech.in

Info Edge`s director resigns

Info Edge (India) has announced that Sandeep Murthy, nominee director of Murugan Captial and Sherpalo LLC Mauritius has resigned from the board of the company with effect from 30 April 2010.
   

SIL Investments to consider dividend

The board meeting of SIL Investments will be held on 11 May 2010 to consider and take on record the audited annual accounts of the company and to consider recommendation of dividend, if any.

Source :www.biginfotech.in

Marg allots equity shares

The committee of Marg in its meeting on 03 May 2010 has allotted 56,31,648 equity shares at an issue price of Rs. 189.88 per share to Qualified Institutional Investors.

Source :www.biginfotech.in

Idea Cellular allots equity shares

The committee of Idea Cellular in its meeting on 03 May 2010 has allotted 1,75,101 equity shares of Rs. 10 each, pursuant to the exercise of stock options under the company`s Employee Stock Option Scheme, 2006.

The equity share capital of the company, post the said allotment stands increased to 330,00,12,893 equity shares of Rs. 10 each aggregating to Rs. 3300.01 crore.

Source :www.biginfotech.in

Jyoti secures orders

Jyoti has announced that the company has received orders worth Rs. 125.5 crore. These include prestigious order from Director General of Naval Dockyard through Hindustan Construction Company for Rs. 85 crore for re-construction and completion of Dry Dock at Mumbai.

In addition, turnkey order from Bhartiya Rail Bijlee Company for circulating water system and make up water system equipment package for (4 x 250 MW) Nabinagar Thermal Power Project in Bihar is also received. The order is worth Rs. 16.5 crore.
The company has received order for raw water system for Parli Thermal Power Station from Maharashtra Generation worth Rs. 8 crore.

The company also has wide presence in irrigation and water supply sectors and has recently received order from Jammu Tavi Irrigation Department, Government of Jammu & Kashmir worth Rs. 4.5 crore and three orders from IVRCL for Karnataka Neeravari Nigam and Cauvery Neeravari Nigam, Andhra Pradesh worth Rs.28 crore.


Source :www.biginfotech.in

Bajaj records its highest ever sales in April 2010

Bajaj motorcycle sales grew 84% in April 2010. Bajaj Auto has sold 3,13,472, 2&3 wheelers in April 2010. This includes 1,13,911 export units. The company has sold 1,69,119, 2&3 wheelers in April 2009. This includes 51,887 export units.

Source :www.biginfotech.in

Educomp Solutions allots equity shares

The committee of Educomp Solutions on 03 May 2010 has allotted 58,102 equity shares of the company to the respective employees who have exercised their option under ESOP Scheme 2006 and ESOP Scheme 2007.

Post allotment, the paid up capital of the company has increased from Rs. 19.02 crore consisting of 9,51,10,651 equity shares of face value of Rs. 2 each to Rs. 19.03 crore consisting of 9,51,68,753 equity shares of face value of Rs. 2 each.

Source :www.biginfotech.in

JSW Steel allots warrants

The board of JSW Steel in its meeting on 03 May 2010 has approved the allotment of 1,75,00,000 lakh warrants convertible into equity shares to Sapphire Technologies on preferential basis.

Source :www.biginfotech.in

KIC Metaliks to issue & allot equity shares

The members of KIC Metaliks have accorded to issue and allot 15 lakh equity shares on preferential basis.This was accorded at the extraordinary general meeting held on 03 May 2010

Source :www.biginfotech.in

GTN Industries to allot equity shares

The board meeting of GTN Industries will be held on 10 May 2010 to consider allotment of 60 lakh equity shares of Rs. 10 each on preferential basis to JEL Finance and Investments and GTN Engineering (India).

Source :www.biginfotech.in

Steel Strips Wheels records highest export sales in April 2010

Steel Strips Wheels has achieved the highest export sales of 1,02,723 wheel rims during the month of April 2010 as against the previous best export sale of 60,352 steel wheels rimes in March 2010, recording a growth of 70%.


Further the company has achieved sales of 7.34 lakh wheel rims during the month of April 2010 as against 4.54 lakh wheel rims during the month of April 2009, recording a growth of 61.50%. The company has also achieved a production of 7.05 lakh wheel rims during April 2010 as against 4.76 lakh during April 2009 recording a growth of 48%.

Source :www.biginfotech.in

Gammon Infrastructure Projects allots equity shares

The committee of Gammon Infrastructure Projects on 30 April 2010 has approved the issue and allotment of 7,50,000 equity shares of Rs. 2 per share to Parvez Umrigar, managing director of the company under the GIPL Employee Stock Option Scheme 2007.

Source :www.biginfotech.in

Maruti Suzuki India sells 93,058 vehicles in April 2010

Car market leader Maruti Suzuki India has sold a total of 93,058 vehicles in April 2010. This includes 13,024 units for export. The company had sold a total of 71,748 vehicles in April 2009.

Maruti Suzuki`s volume in the domestic A2 segment grew by 20.5% while in the A3 segment the sales volume grew by 41.4% during the month as compared to sales in April 2009. The month sales in C Segment grew by 37.9% as compared to April 2009. During the month, Maruti Suzuki launched the all new WagonR.

Source :www.biginfotech.in

Kotak Mahindra Bank to consider stock split

The board meeting of Kotak Mahindra Bank will be held on 11 May 2010 to consider sub-division (stock-split) of the present value of the equity shares of Rs. 10 each of the bank into smaller denomination as the board may deem fit, subject to the approval of shareholders of the bank and other necessary approvals.

Source :www.biginfotech.in

Bank of Maharashtra recommends dividend

The board of Bank of Maharashtra in its meeting on 30 April 2010 has recommended dividend at the rate of Rs. 2 per share (20%) for the year ended 31 March 2010.

Source :www.biginfotech.in