Markets | Nomura gets primary dealer licence from RBI

Markets | Nomura gets primary dealer licence from RBI
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First Published: Fri, Sep 04 2009. 10 36 PM IST
Updated: Fri, Sep 04 2009. 10 36 PM IST
Mumbai: The Reserve Bank of India (RBI) on Friday issued a primary dealer licence to Nomura Fixed Income Securities Pvt. Ltd. Primary dealers buy and sell government bonds, and also must pick up any unsold bonds at a government auction.
Nomura applied for the licence early this year, according to Pankaj Vaish, India head of equities and fixed income for the group. The team that will be handling this primary dealership business will mostly be from the former Lehman Brothers’ primary dealer business that Nomura acquired in October 2008.
Separately, Nomura Funds Ireland Public Ltd bought a 1.5% stake in Radico Khaitan Ltd, India’s second largest liquor maker, on Thursday. Nomura bought 1.5 million shares at Rs104 apiece, data from the National Stock Exchange showed.
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NTPC follow-on issue likely after Oil India IPO
New Delhi: The government is likely to float NTPC Ltd’s follow-on public offer after Oil India Ltd’s initial public offering (IPO), a finance ministry official said on Friday
Oil India’s IPO opens on Monday and closes on Thursday.
“NTPC follow-on issue should follow Oil India’s IPO. IPOs of the state-owned companies will hit the market thereafter,” the official said.
— Newswire18
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IIFCL to raise Rs3,000 cr through bonds by March
Kolkata: State-owned lender India Infrastructure Finance Co. Ltd will raise Rs3,000 crore from the domestic market through bonds by March, chairman and managing director S.S. Kohli said on Friday.
The infrastructure financing firm will sign a loan agreement of $700 million (around Rs3,400 crore) with the Asian Development Bank next month, Kohli added.
— Newswire18 and PTI
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DSE says trading to commence in October
Mumbai:Delhi Stock Exchange Ltd (DSE), which has received 110 applications from brokers under its deposit-based membership scheme, expects to restart trading in October, the exchange said in a release.
DSE executive director H. S. Sidhu said, “We are looking to commence trading around Diwali, give or take a week. We are expecting that the membership number will cross the 150-figure mark by the launch date.” Diwali, a major Hindu festival, is scheduled for 17 October this year.
Membership to the exchange, which offers trading rights, is being offered against a non-refundable deposit of Rs5 lakh and a one-time admission fee of Rs1 lakh.
The stock exchange is also launching an amnesty scheme to revive trading in inactive stocks and encourage compliance.
— N. Sundaresha Subramanian
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First Published: Fri, Sep 04 2009. 10 36 PM IST