NADAR MAKES OPEN OFFER TO ACQUIRE STAKE IN 3 AILING COs

Article Abstract:

Mr Shiv Nadar, the founder of the HCL group, has made an open offer to the shareholders of International Data Management (IDM), HCL Office Automation Ltd (HOAL) and Network Ltd through his investment company, Shiv Nadar Investment Pvt Ltd (SNIL). All the three are loss making companies. SNIL has made an offer for 1,808,600 shares (82.83 percent stake) at a price of Rs2 per share in IDM, for 32 lakh shares (21.84 percent stake) at Rs8.30 per share in HOAL and for 19.40 lakh shares (30.14 percent stake) at Rs3.80 per share in Network. (rk)

Comment:

HCL group founder makes offer to acquire 3 ailing companies through this firm

Acquisitions & mergers, Investment Companies, Open-End Investment Funds, Article, Shiv Nadar Investments Private Ltd.

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BANKS TO OFFER KISAN CREDIT AT 12 PER CENT

Article Abstract:

The Kisan Credit Card will be offered by all the Indian scheduled commercial banks. The cards will be offered at a concessional rate of 12-12.75 percent. The cards are being offered following an order of the Reserve Bank of India (RBI). RBI has made it mandatory for all the banks to offer the Kisan Credit Card scheme. The scheme will offer agricultural credit to the farmers for buying seeds, fertilisers and pesticides on credit. The farmers can also draw money for funding agricultural purchases. (ag)

Services introduction, Other Computer Peripheral Equipment Manufacturing, Magnetic Cards, Magnetic and Optical Recording Media Manufacturing, Electronic Funds Transfer Terminals, Electronic funds transfer systems, Reserve Bank of India

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