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Markets | Videocon rights issue to open on 22 March

Markets | Videocon rights issue to open on 22 March
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First Published: Thu, Mar 11 2010. 11 08 PM IST
Updated: Thu, Mar 11 2010. 11 08 PM IST
Mumbai:Videocon Industries Ltd is offering more than 5.13 crore shares as part of a rights issue which will open on 22 March and close on 30 March , the company told the stock exchanges on Thursday. The company is offering two shares for every nine held by shareholders, and expects to raise around Rs1,156 crore. The shares will be sold at a fixed price of Rs225 each. Videocon’s shares on Thursday dropped 0.93% to end at Rs229.83 on the Bombay Stock Exchange. The benchmark Sensex rose 0.41% to close at 17.167.96.
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India Infoline gets SGX broking licence
Mumbai:India Infoline Ltd, India’s largest listed brokerage, on Thursday said its Singapore unit has received an in-principle approval from that country’s marketing regulator for a membership in the Singapore Exchange or SGX.
This is the first time an Indian brokerage is getting a licence in Singapore, the company said in a statement. R. Venkataraman, executive director at the Mumbai-based brokerage, said it would target institutional investors first and eventually cover China-based companies from there.
— Ravi Krishnan
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First Published: Thu, Mar 11 2010. 11 08 PM IST