| 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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| To: eDollar.com who wrote (456) | 3/26/2000 8:29:00 AM | | From: Mohan Marette | | | | |
IC represents the holding company, it holds about a dozen companies in their portfolio including the bank. Majority of the companies are not publicly traded other than the parent company and now the bank which will soon be listed on Nyse, the bank already trades in India along with the parent. |
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