ANAGRAM FINANCE DECIDES TO PREPAY OUTSTANDING FDs

Article Abstract:

Anagram Finance Limited (AFL) has issued a notice to all its fixed deposit (FD) holders informing them that it would pre-pay their principal amount and the interest on it up to October 15, 1998. This decision follows its proposed merger with the Industrial Credit and Investment Corporation of India (ICICI). The merger has been approved by the shareholders of both the companies. The Mumbai High Court has to give the final approval. AFL has 2.5 lakh shareholders. It has fixed deposits of about Rs250 crore. The Lalbhais, the largest shareholders in AFL, have offered a buy-back option to the shareholders at Rs18 per share against a conversion ratio of one ICICI share for every 15 shares of AFL. (gs)

Comment:

Issues notice to all fixed deposit holders informing them that it would pre-pay principal amount & interest on it up to 10/15/98

Use of Funds, Anagram Finance Ltd.

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COIMBATORE LAKSHMI INVESTMENT & FINANCE CO

Article Abstract:

The fixed deposit (FD) programme of Coimbatore Lakshmi Investment and Finance Company Limited (CLIFL) has been placed on rating watch with negative implications by Investment Information and Credit Rating Agency. CLIFL's liquidity position has been affected by low collections. The company's ability to raise funds has been affected by the recent regulatory changes. (ag)

Comment:

Fixed deposit program of co is placed on rating watch w/ negative implications by Investment Information & Credit Rating Agency

Financial analysis, Coimbatore Lakshmi Investment and Finance Company Ltd.

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