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   Non-TechICICI Ltd - (Nyse: IC)


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To: Mohan Marette who wrote (441)3/21/2000 8:58:00 AM
From: Mohan Marette
   of 494
 
SBI plans to raise Rs 1000 crores ($870 mln) through private placement of debt

sbi.co.in

The State Bank of India (SBI) plans to tap the market through a Rs 1000 crores private placement. The bank likely to float a subordinated debt issue of Rs 1,000 crores this week. This said to be the largest tier-II debt issue by any bank in this fiscal. Sources say, the five-year instrument is likely to carry a coupon of around 11 per cent. SBI Capital Markets is set to manage the issue, money market sources said. Crisil rated the issue as "AAA".

"The bank anticipates a growth in loans assets in the next financial year. Raising Tier-II funds at this juncture will allow the bank to maintain its capital adequacy ratio (CAR) at the current levels," the bank sources said.

The Capital Adequacy Ratio (CAR) of the bank is pegged at 12.51 per cent at present. Of which, Tier-I capital constitutes 9.36 per cent and Tier-II capital the balance 3.15 per cent. The bank floated a 10-year Rs 1000 crores subordinated debt issue in 1995.

"At around 11 per cent, the SBI paper is finely priced. Had the bank opted for the book-building route for pricing the bond, the coupon would have been on the higher side, given the likely tightness in the system this week," an analyst said.

The timing of the bond issue coincides the following tighter liquidity conditions from Rs 7,000 crores towards advance tax outflows. The yield is currently being dealt at 11.10 per cent, about 20 basis points lower than the levels prevailing the previous week.


Source : MI
Mar 20, 2000

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To: Mohan Marette who wrote (442)3/21/2000 12:52:00 PM
From: Mohan Marette
   of 494
 
Message 13249417

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To: Mohan Marette who wrote (443)3/21/2000 1:29:00 PM
From: Mohan Marette
   of 494
 
**OT** Alert: Citigroup Says Names Menezes Chairman, CEO of Citibank, Replacing Reed

Tuesday March 21, 1:12 pm Eastern Time

(This is a headline-only alert, although it will likely be followed by an article soon)

============

Mr. Menezes joined Citicorp in India in 1972 and began his career in Corporate Banking. Among his assignments were Citibank Senior Officer for India and South Asia and Country Corporate Officer and head of corporate banking in Hong Kong, Macao and the People's Republic of China. Between 1985 and 1989 he was Citicorp's Senior Corporate Officer for Latin America and Africa. In 1989 he moved to consumer banking, where he was named head of the European business, and two years later his responsibilities were extended to include consumer banking in the United States. He was named Chief Financial Officer of Citicorp and Citibank in December 1995.

Mr. Menezes was born in Pune, India, on May 14, 1949. He received an electrical engineering degree from the Indian Institute of Technology in 1970 and a Master of Science in finance and economics from the Sloan School of the Massachusetts Institute of Technology in 1972.

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To: Mohan Marette who wrote (444)3/21/2000 3:57:00 PM
From: Mohan Marette
   of 494
 
Funding farm-related projects -- ICICI in talks with major agencies

ICICI Ltd is in talks with multilateral and other funding agencies for sourcing funds for agriculture-related projects, Ms. Chanda Kochhar, General Manager, has said.

hindubusinessline.com

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To: Mohan Marette who wrote (445)3/21/2000 3:59:00 PM
From: Mohan Marette
   of 494
 
Federal Bank to offer Net, e-com services soon

FEDERAL Bank will offer Internet and e-commerce related services to its customers by the April-end, according to Mr. K. A. Padmakumar, Chairman.

hindubusinessline.com

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To: Mohan Marette who wrote (446)3/21/2000 9:52:00 PM
From: Mohan Marette
   of 494
 
IL&FS/ICICI domain name case settlement soon

Our Mumbai Bureau
21 MARCH

INVESTSMART India, the web broking subsidiary of IL&FS, and ICICI appear to be heading for an out-of-court settlement over the issue of usage of the investmartindia.com domain name. Investsmart India is believed to have urged ICICI, which registered the disputed domain name, to transfer rights to it. ICICI is not averse to such an idea as it is not in a mood to trigger off a long legal battle.
Earlier this month, the Bombay High Court turned down a plea by Investsmart India for an interim injunction against ICICI using the domain name investmartindia.com on the ground that it was deceptively similar to its own site investsmartindia.com .

While sticking to its rights over the domain name, ICICI said Investsmart had chosen to sue even before a meeting could be fixed between the two companies to sort out the dispute. Following the order, Investsmart India said that it would appeal.

Sources said since then Investsmart India had approached ICICI requesting transfer of the investmartindia.com domain rights. The exact state of the negotiations could not be ascertained as ICICI officials refused to comment on the ground that the matter was sub-judice. Senior executives of investsmart were out of station.

ICICI officials had earlier said that a litigation was thrust on them without giving them an opportunity to sort matters out through mutual discussion.

The line of thinking in the two institutions is now to focus on promoting their respective websites for internet broking instead of prolonging the dispute.
ICICI has commenced e-broking through its website icicidirect.com , which was launched last month. economictimes.com

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To: Mohan Marette who wrote (447)3/22/2000 4:40:00 PM
From: Mohan Marette
   of 494
 
HDFC to pick 29.5% in net broking arm

hdfcindia.com
hdfcbank.com

Our Bureau

MUMBAI, March 22

HOUSING Development Finance Corporation Ltd (HDFC) is picking up a 29.5 per cent stake in the proposed joint venture being set up with HDFC Bank for net broking.

The HDFC board, which met on Wednesday, approved the new venture and the board of HDFC Bank will be meeting on March 29 to discuss the proposal.

The new company will be engaged in net broking and other allied businesses.

According to sources, a third 'technology' partner is likely to pick up stake in HDFC Securities.

The HDFC board will be meeting again on March 27, to consider payment of interim dividend and raising the limit of FIIs' holding from 30 per cent to 40 per cent, according to a company notice to the stock exchanges.

-Business Line

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To: Mohan Marette who wrote (448)3/23/2000 3:29:00 PM
From: Imran
   of 494
 
it's getting pretty volatile here.....got back above 30 only to get shot down again.......wondering what the base will be??

imran

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To: Mohan Marette who wrote (448)3/23/2000 3:52:00 PM
From: KumarK
   of 494
 
ICICI Bank may price ADR around $11.

expressindia.com

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To: Imran who wrote (449)3/23/2000 4:07:00 PM
From: Mohan Marette
   of 494
 
ICICI Infotech plans overseas subsidiaries

Yes I noticed that, don't know what the 'base' will be.
================

ICICI Infotech Services, the 100 per cent subsidiary of ICICI, plans to invest Rs 40-50 crore over the next one year in setting up overseas subsidiaries, acquiring companies in the US/Europe/Middle East/Australia via stock swaps and forming joint ventures (JVs) with reputed companies abroad.

economictimes.com

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