Tuesday, September 8, 1998
Core sector issue norms eased
The Securities and Exchange Board of India (SEBI) has granted specific relaxations to public issues by infrastructure companies provided the projects are appraised by any developmental financial institution (dfi) or Infrastructure Development Finance Corporation (IDFC) or Infrastructure Leasing & Financial Services (ILFS). Sebi has decided to make it mandatory on companies to make all fresh share allotments through the public issue route to investors in dematerialised form only.
WorldTel to pump $50m into TN Internet project
WorldTel chairman and chief executive officer (CEO) Sam Pitroda on Monday took centre stage in Tamil Nadu, assuring to put it on the global information highway by bringing in $50 million to $60 million by way of equity for the first of its kind Internet Community Centres (ICC) project in the state.
UTI Bank to go public
UTI Bank Ltd, promoted by UTI, LIC and GIC and its four subsidiaries, is making a public offer of 3.5 crore equity shares, consisting of an issue of 1.5 crore equity shares and an offer for sale by UTI of two crore equity shares. The offer due to open on September 21, 1998 is priced at Rs 21 per equity share.
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