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| Shyam Telecom to reorganise its holdings in associate companies |
Shyam Telecom Limited has informed BSE that will consolidate/reorganise its holding in associate companies as under :
a) Essel Shyam Telecommunications limited (joint venture between Essel group and the promoters of Shyam for V-Sats)
b) Shyam ACeS (India) Pvt. Ltd. (joint venture between ACeS International and the promoters of Shyam in the area of Satellite Telephony)
c) Shyam Telelink Limited (the basic/fixed line telephony services in Rajasthan)
d)Hexagon (India Limited (the cellular telephony services in Rajasthan).
By acquiring these holdings through Shyam International Limited (100% subsidiary of Shyam Telecom Limited) from the promoters of Shyam at a consideration that is a cost plus holdings cost and therefore intended to be at well below realisable market values This should result in a huge value acquisition of these holdings (either merger of the holdings companies or a buy out by Shyam International Limited) is being worked out by external agencies appointed for this purpose. |
| Gunit Chadha takes charge as MD & CEO of IDBI Bank |
IDBI Bank Ltd. has appointed Gunit Chadha as its new MD & CEO. Mr. Chadha 39, years old is the youngest MD amongst all the private sector banks in India. Mr. Chadha's induction as CEO reveals the banks ambitious plans to emerge as a leader in the area of retail banking and repositioning itself in the industry. This step is to be seen in the context of its changed strategy and is critical its current objective of attaining a leadership position in the Indian Banking Industry particularly in the technology based products. Mr. Chadha succeeds Mr. Deepak Mukerjee the previous MD of the bank who held office upto June 25, 2000.
According to Mr. Chadha creating shareholder wealth will be key and employees must participate in it through stock ownership plans. Mr. Chadha's focus will be to rapidly transform IDBI Bank into the leading e-commerce enabler in India. Technology will drive business transformation into newer avenues, significantly enhance customer effectiveness and create cost efficiencies. |
| Trigyn Technologies to consider acquiring balance stake in eCapital |
The Board of Trigyn Technologies Ltd (Formerly known as Leading Edge Systems Ltd) will meet on August 24, 2000 to consider the acquisition of 49% of the shareholding of eCapital (UK) Limited, a company incorporated in the UK, which is already a 51% subsidiary of eCapital Solutions (Bermuda) Limited.
eCapital Solutions (Bermuda) Limited is a 100% subsidiary of Trigyn Technologies Ltd.
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| BSE imposes special margin on Kothari products |
| BSE has imposed a special margin of 25% on the scrip of Kothari Products Ltd (Scrip code: 30299) with effect from Tuesday, August 22, 2000. |
| Principal Pharmaceuticals fixes book closure date for rights issue |
| Principal Pharmaceuticals & Chemicals Ltd has fixed the Book Closure date from September 20, 2000 to September 28, 2000 for the purpose of issue of two equity shares of Rs 10/- each for a premium of Rs 5/- per share on rights basis for every three existing equity shares held. The transactions in the equity shares of the company will be on cum-right basis upto August 25, 2000 and on ex-right basis from August 28, 2000. |
| Relaxo Footwears to consider stock split |
| The Board of Directors of Relaxo Footwears Ltd will meet on August 29, 2000 to deal with the matter relating to stock split of equity shares of Rs 10/- each of the company |
| Orient Ceramics fixes record date for bonus |
| Orient Ceramics and Industries Ltd has fixed September 26, 2000 as the record Date for the purpose of issue of one bonus share for every one existing equity share held. The transactions in the equity shares of the company would be on cum-bonus basis upto August 31, 2000 and on ex-bonus basis from September 04, 2000. |
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