PROMOTERS TO HIKE STAKE IN SUPREME PETROCHEM

Article Abstract:

The Supreme Petrochem promoters, Supreme Industries and R Raheja Investments Pvt Ltd, are to be offered 15 million equity shares at a premium of Rs2.50 per share on a preferential allotment basis. The company will also issue around 15 million shares on the same terms to equity and mutual funds, venture capital, or Indian financial institutions and foreign institutional investors. The shares are being floated to part-finance Supreme Petrochem's expansion project for increasing its polystyrene capacity from 1.12 lakh tonnes to 2.4 lakh tonnes per annum at a cost of Rs120 crore. (gsh)

Comment:

Will offer Supreme Industries & R Raheja Investments 15 mil shares at premium of Rs2.50/share on preferential allotment basis

Plastic Materials, Plastics Material and Resin Manufacturing, Plastics, Supreme Petrochem Ltd.

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GARWARES HIKE STAKE IN FLAGSHIP CO TO 26.37%

Article Abstract:

Garwares, the promoters have increased their equity stake in the flagship company of the group, Garware Polyester Ltd, from 16.11 percent to 26.37 percent. This was achieved by converting warrants into equity shares at a premium of Rs40 per share. The shares of Garware Polyester are quoted at Rs21 on the Bombay Stock Exchange. The company's equity capital went up from Rs16.99 crore to Rs21.78 crore following conversion of warrants. (uh)

Comment:

Company promoters increase their equity stake from 16.11% to 26.37%

Noncellulosic Organic Fiber Manufacturing, Polyester Fibers, Garware Polyester Ltd.

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PROMOTERS HIKE STAKE IN ROLTA INDIA TO 46 PER CENT

Article Abstract:

Kamal K Singh & Associates, promoters of Rolta India Ltd (RIL), have raised their stakes in RIL to 46 percent from 42 percent. They have done so by converting warrants into equity. The promoters converted the warrants at Rs20 per share at the beginning of 1998 (Rs15 was the market price then). RIL provides solutions in the areas of computer- aided design, computer-aided manufacturing and geographic information service. (ag)

Comment:

Kamal K Singh & Associates have raised their stakes in co to 46% from 42% by converting warrants into equity

Electronic Computer Manufacturing, Computer-Aided Design, Rolta India Ltd.

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