HINDALCO CLOSE TO ACQUIRING 45% STAKE IN INDIA FOILS

Article Abstract:

Hindalco Industries Ltd (HIL) is about to acquire 45 percent stake in India Foils Ltd (IFL) of Calcutta. IFL, a BM Khaitan group company, plans to issue 90 lakh equity shares of Rs10 each at a premium of Rs35 each to HIL. It will also be offering 55 lakh warrants. The warrants can be converted into equity shares of Rs10 each at a premium of Rs35 per share on a private placement basis. Currently, the foreign holding in IFL is 2.01 percent while public holding is 12.25 percent. The financial institutions hold a 19.53 percent while the corporate bodies hold a 65.26 percent and the directors hold 0.95 percent. During 1997- 98, IFL posted a sales of Rs319 crore and a net loss of Rs4 crore. (ag)

Comment:

Aluminum firm is about to acquire 45% stake in India Foils of Calcutta, India

Acquisitions & mergers, Aluminum, Primary Aluminum Production, Aluminum Foil, Aluminum Sheet, Plate, and Foil Manufacturing, Aluminum industry, Aluminum products, Hindalco Industries Ltd., India Foils Ltd.

---

INDAL DIVESTS MAJORITY STAKE IN IEL TO AT&S

Article Abstract:

Indian Aluminium Company Ltd (Indal) of Calcutta is divesting its majority stake in Indal Electronics Ltd (IEL) in favour of Austria Technologie Systemtechnik, a $200 million manufacturer of printed circuit boards (PCBs). The Nanjangud-based IEL exports PCBs to companies like US Robotics, Honeywell, Nokia and Hewlett Packard. It posted a net profit of Rs2.6 crore on a turnover of Rs19 crore in the first quarter of 1998-99. (khr)

Comment:

Will acquire majority stake of Indian Aluminium in Indal Electronics, India

Austria, Foreign operations, Printed Circuit Assembly (Electronic Assembly) Manufacturing, Printed Circuit Boards, Indian Aluminium Company Ltd., Indal Electronics Ltd., Technologie Systemtechnik

---

Similar abstracts:

• Abstracts: INDAL SETS REVAMP TONE WITH VRS. INDAL GETS A BREATHER INDAL TIE-UPS IN TROUBLE
• Abstracts: GE CAPS TAKES CONTROLLING STAKE IN CCFSL. FIPB DEFERS DECISION ON IFC'S STAKE IN GTB WIPRO FINANCE ISSUES PREF SHARES TO PROP UP SINKING BOTTOMLINE
• Abstracts: DANISH CO, IFU TO SET UP Rs25-M JV IN INDIA THAKRAL GROUP SETS UP RAFFLES IN INDIA ROOT CONSULTING SETS UP INDIAN ARM IN CHENNAI
• Abstracts: MOHAN MEAKEN TO CUT STAKE IN MACDONALD JV CDC PICKS UP 45% STAKE IN AQUA CHEMICALS & SYSTEMS
• Abstracts: NFCL SALES, NET FALL; DIVIDEND PUT AT 18% NFCL DECLARES 18 PERCENT DIVIDEND NFCL TURNOVER UP 40%

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.