Author: CP

The board of Indiabulls Financial Services has decided to raise fund upto Rs 4,000 crore by issue of shares by international offerings through an issue of convertible securities / ADRs / GDRs and FCCBs convertible into equity shares of the company.

The board has decided to issue equity shares / fully convertible debentures / partly convertible debentures or any other securities other than warrants.

The board has decided to issue equity shares / fully convertible debentures / partly convertible debentures / optionally convertible debentures / debentures with right to subscribe to equity shares / convertible / non convertible preference shares / bonds / non convertible debentures with detachable warrants / any other financial instruments convertible or otherwise of the company.

Further, the board has decided to increase the existing authorized share capital of the company of Rs 1243,47,50,000 divided into 50,00,00,000 equity shares of Rs 2 each, 2,50,00,000 preference shares of Rs 300 each and 2,50,00,000 preference shares of Rs 157.39 each to Rs 1543,47,50,000 divided into 200,00,00,000 equity shares of Rs 2 each, 2,50,00,000 preference shares of Rs 300 each and 2,50,00,000 preference shares of Rs 157.39 each.

Phoenix Mills will be entering into a strategic alliance with Entertainment World Developers (EWDPL) by acquiring over 42% stake in the company. Phoenix itself, is currently building retail led mixed use development centers in tier I cities under the brand name of Phoenix market city and through partnerships with regional players in the tier II cities.

The 42% stake will be acquired by Phoenix through a combination of fresh cash infusion to acquire equity in EWDPL, and through the merger of certain entities that currently own equity in EWDPL. As a result of the transaction, EWDPL’s post money equity is being valued at Rs 1,250 crore.

EWDPL is a tier II city centric retail mall, mixed use developer, currently engaged in the construction and operation of mixed-use retail centers and townships. Its past projects include Indore’s first and largest retail mall: Treasure Island Indore – a 650,000 sq foot mall cum hotel which was voted the best designed mall in India for the last year. Treasure Island Indore offers five levels shopping, entertainment (a PVR multiplex), hospitality, dining and hosts over 100 retail outlets.

GMR Infrastructure has informed us that the GMR Group has successfully implemented SAP across all its businesses and locations, with the last of its three SAP instances going live on 04 February 2008 at its Head Quarters, Bangalore. Earlier, GMR’s airport projects at Delhi and Hyderabad had successfully implemented SAP. SAP will enhance productivity, scale up the operations and businesses seamlessly, provide reinforcement to its operations through best practices and robust security structures and fostering cohesive unity in expanding diversity. GMR implemented all the modules of SAP, relevant to its businesses.

SAP India is the implementation partner for the SAP instance implemented in Bangalore, covering all its businesses, except airports vertical. The hardware for the project has been sourced from IBM. While KPMG are project management consultants, TCS will provide post go live support. GMR has commissioned and implemented all the three SAP instances during the last one year with an investment of about Rs 60 crore.

Prakash Industries has established an integrated steel plant in the State of Chhattisgarh at Champa, District Janjgir. The company has entered into a MOU with the Government of Chhattisgarh on 01 February 2008 to establish and operate a 600 MW thermal power station in the State of Chhattisgarh with an investment of approximately Rs 2400 crore.

The project may be implemented in the company or in a SPV formed for this purpose. The company would be entitled to wheel the power through Power Grid Corporation of India / other grid lines or its own dedicated lines for its own use or for its customers. The project would be operational within a period of 3 to 4 years and would be financed through a mix of equity and debt.

Reliance Communications has announced that Reliance Infratel, subsidiary of the company proposes an initial public offering – IPO of 8,91,64,100 equity shares of Rs 5 each for cash at a premium to be decided through the 100% book building process. The issue will constitute 10.05% of the post-issue paid-up equity capital of the company.

The company has filed its draft red herring prospectus with the Securities and Exchange Board of India (SEBI), on 04 February 2008.

The company is part of the Reliance Anil Dhirubhai Ambani group and its business is to build, own and operate telecommunication towers and related assets at designated sites and to provide these passive telecommunication infrastructure assets on a shared basis to wireless service providers and other communications service providers under long-term contracts. These customers use the space on the company’s telecommunication towers to install their active communication-related equipment to operate their wireless communications networks.

goBroadband reports that the company is on a aggressive expansion mode for FY2009 as it extends its GSM footprint on PAN-India basis.