Friday, February 12, 1999
VSNL GDR issue mops up $ 185 million
The international disinvestment offering in Videsh Sanchar Nigam (VSNL) has been priced at $ 9.25 per GDR (around Rs 786 per share). The government has divested 20 million GDRs, representing 10 million shares.
A-I seeks $80 mn from Caribjet
Loss-making national airline, Air India, will file an appeal in a London Court against a ruling by the International Court of Arbitration (ICA) asking the airline to pay a hefty $ 80 million compensation to Caribjet.
IDBI tightens conditions for fresh steel loans
Financial Institutions, led by the Industrial Development Bank of India (IDBI), have decided to enforce tough conditions before extending additional loans to new steel projects.
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