Wockhardt to raise Rs 800 cr via IPO (The Economic Times 29th Jan 2008)Multi-specialty hospital chain Wockhardt will raise Rs 800 crore through an initial public offering (IPO). The money would be used to set up 17 new hospitals by 2010 and also repay debt. The company would tap the capital market with an issue of over 2.5 crore equity shares of Rs 10 each, representing 24% of its post-issue capital. It will offer the shares in a price band of Rs 280-310. The issue will open for subscription on January 31 and close on February 5. Post public issue, the promoters will have around 71% stake in the company. More
Interest rates unlikely to go down (The Economic Times 4th Jan 2008)Interest rates are unlikely to fall in near future as it was expected with the State Bank of India raising the fixed deposit rate of various maturities up to 1.5 percentage points. Other banks are also planning to raise deposit rates. After SBI increasing deposit rates, other banks have no choice but to raise the rates to mobilize resources in the domestic market, chairman of a public sector bank said. As the cost of funds for banks will increase, they will resort to raising the lending rates. A senior banker said banks would announce the increased rates in near future. More Gold zooms past Rs 11,000 per 10 gm (The Hindu Businessline 4th Jan 2008)Gold prices made history as they soared to a record $ 865.35 an ounce in the London A.M fixing on Thursday, tracking which the domestic gold surged to Rs. 11,000 per 10 gm. On Wednesday, gold was fixed at $ 840.75/oz in London while in the Indian market it quoted at Rs 10,70
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