| To: Mohan Marette who wrote (446) | 3/21/2000 9:52:00 PM | | From: Mohan Marette | | | |
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 | | | |
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: Imran who wrote (449) | 3/23/2000 4:07:00 PM | | From: Mohan Marette | | | |
ICICI Infotech plans overseas subsidiaries
Yes I noticed that, don't know what the 'base' will be.
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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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| To: Mohan Marette who wrote (451) | 3/24/2000 11:23:00 AM | | From: Mohan Marette | | | |
India ICICI To Fund Hughes Ispat Via Underwriting, Loans
Friday, March 24 9:00 PM SGT
BOMBAY (Dow Jones)--Indian development bank and financial services company ICICI Ltd. (IC) signed an agreement with telecom company Hughes Ispat Ltd. to fund the latter's expansion in India, Hughes Ispat said Friday.
ICICI will provide a debt underwriting facility of $225.0 million to Hughes Ispat, which includes a short-term funding facility of $87.0 million. It will also arrange equity for the project.
Hughes Ispat said the $225.0 million will meet the entire commercial debt requirements of its $750.0 million telecom project in the western Indian state of Maharashtra.
Hughes Ispat is planning to raise $140.0 million through private placement of equity and is being assisted by ICICI Securities, the investment banking arm of ICICI.
Hughes Ispat is owned by U.S.-based Hughes Network Systems, U.S. Alltel Corp. and the Ispat group in India.
It has a license to provide basic telecommunication services in the Indian states of Maharashtra and Goa. |
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| To: Mohan Marette who wrote (452) | 3/24/2000 4:16:00 PM | | From: Mohan Marette | | | |
Multi-flavoured bonds from ICICI.
Are they really worth investing in? We look at each one of them piece by piece. Dr C M Kulshreshtha
Last month, ICICI, with an authorised share capital of Rs 6,950 crore ($1.5 billion), had offered for public subscription unsecured redeemable bonds to the extent of Rs 300 crore with a right to over subscription upto Rs 300 crore. Now on March 17, it launched a second series of bonds for Rs 400 crore. This offer closes on March 31. The variety is the same, but with one vital difference ? the coupon rates have been slashed by more than half a percentage point in less that just three weeks.
The most attractive feature of these bonds is the vast variety of options. It has targeted five main segments of investors, ranging from the upper to the lower middle classes. And even within each segment it has options that would suit different requirements.
The choice is thus for not just multi-flavoured ice creams, but other types of deserts too.
Here are some of the common features of these bonds.
* Credit rating is the highest - triple A.
* Listing on Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) to ensure liquidity.
* The minimum subscription is Rs 5,000 (except in a few cases where it is higher).
* Nomination facility is available.
* The amount of interest is fully taxable. Tax is deducted at source in case the amount exceeds Rs 25,000 in a financial year.
* These bonds - except Tax Saving Bonds - can be pledged with the ICICI Bank as security against loans.
* Interest at the rate of 5 per cent per annum is also given from the date of application to the date of allotment - a fair deal to investors......<continued--->
business-standard.com |
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