MANIPAL FINANCE CORPORATION LIMITED
Article Abstract:
Manipal Finance Corporation Limited (MFCL), Manipal, Karnataka, posted a net profit of Rs143.86 lakh in the second half of 1997- 98. MFCL floated a rights issue of 1,809,000 equity shares of Rs10 each at a premium of Rs9 per share. (gsh) ------------------------------------------------------------ Unaudited Financial Results of Manipal Finance Corporation Ltd (Rs in lakh) ------------------------------------------------------------ Particulars 12 months Half year ended ended Mar 98 Mar 98 ------------------------------------------------------------ Gross Income 3,192.12 1,539.43 ------------------------------------------------------------ Total Expenditure 501.24 121.20 ------------------------------------------------------------ Interest 2,038.95 1,025.47 ------------------------------------------------------------ Depreciation 293.61 101.54 ------------------------------------------------------------ Taxation 30.10 30.10 ------------------------------------------------------------ Net profit 231.30 143.86 ------------------------------------------------------------ Paid-up equity capital 586.85 586.85 ------------------------------------------------------------
Comment:
Floats rights issue of 1,809,000 equity shares of Rs10 each at a premium of Rs9 per share
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ALF, FIs TO RAISE Rs600 CR THROUGH SECURITISATION
Article Abstract:
Ashok Leyland Finance Ltd (ALF), a major player in the asset securitisation market, has tied up with financial institutions (FIs) like ICICI, I-Credit, GE Capital Services, GE Capital Transportation Financial Services Ltd, Countrywide Ltd and Citibank to raise around Rs600 crore through securitisation. The funds will be raised by securitising hire-purchase portfolios of the transport segment and industrial equipment segment or any other route. (gsh)
Comment:
Ties up with financial institutions to raise around Rs600 crore through securitization
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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WIPRO FIN TO CONVERT PREF SHARES INTO EQUITY
Article Abstract:
The ailing Wipro Finance (WF) has decided to convert 25 lakh fully convertible cumulative preference shares of Rs100 each amounting to Rs25 crore issued to ICICI Ltd into equity. The preference shares will be converted into equity shares of Rs10 each at the end of 63 months from the date of allotment. WF has a depositors base of about 50,316. It had deposits Rs100.3 crore from the public at the end of 1997-98. (gs)
Comment:
Is converting 25 lakh fully convertible cumulative preference shares of Rs100 each to Rs25 crore issued to ICICI Ltd into equity
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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