Bazaar Watch

Hikal - Updates

2009-07-03T09:26:00.001-07:00

Hikal Ltd has informed BSE that Hon'ble High Court of Judicature at Bombay has approved the Scheme of Arrangement between Hikal Pharmaceuticals Ltd and Hikal Ltd and their respective Shareholders vide Order dated June 25, 2009, a certified copy of which was made
available on June 30, 2009.

Further, certified copy of the order of the Hon'ble High Court of Judicature at Bombay sanctioning the Scheme from March 31, 2009 being the Appointed Date, has been filed electronically with the Registrar of Companies, Maharashtra, Mumbai on June 30, 2009. Thus, the Scheme has become effective from June 30, 2009, being the date on which the said certified copy of the order sanctioning the Scheme passed by the High Court has been filed with the Registrar of Companies, Maharashtra, Mumbai.

Accordingly, Hikal Pharmaceuticals Ltd has been amalgamated with Hikal Ltd and stands dissolved without being wound up.

State Bank of Mysore - Updates

2009-07-03T09:25:00.002-07:00

State Bank of Mysore has informed BSE that the General Secretary, AIBEA on behalf of all the Unions of six Associate banks viz. AIBEA, NCBE, AIBOA, BEFI and INBEF has informed that all the employees of the six Associate Banks will go on strike on July 06, 2009 opposing merger of State Bank of Indore and other Associate Banks with State Bank of India.

In the event of the proposed strike materializing on July 06, 2009, normal services rendered to the Bank's customers may have to be curtailed.

Kwality Dairy - Updates

2009-07-03T09:25:00.001-07:00

Kwality Dairy India Ltd has informed BSE that the Company is contemplating to enhance the capacity around five lacs liter per day by taking over dairy plant in Uttranchal which will be operational within three months.

The Company is in advance stages of negotiation for takeover of the plant. Such acquisition will enhance the capacity of the Company and also the product line by adding various new products & SKU's.

Such acquisition will have great impact on the financial position of the Company and will also enhance the profitability of the Company as the Company will cover wider area of state of Uttranchal for the marketing of its various products. For this purpose, Company is expanding the Dealer Network and getting into tie ups with various institutions.

Godrej Industries - Updates

2009-07-03T09:24:00.003-07:00

Godrej Industries Ltd has informed BSE that Shareholders of the Company had vide resolution passed on March 18, 2009 approved investment in Natures Basket Ltd (NBL), a 100% subsidiary of Godrej Agrovet Ltd (GAVL), which itself is a subsidiary of the Company.

Further the Company has informed that, the Company on July 03, 2009 has acquired the entire shareholding in NBL from GAVL. With this acquisition NBL has become a direct 100% subsidiary of the Company.

NBL focuses on specialty food including fresh produce and is positioned as a premium food chain.

Capital Trust - Open Offer

2009-07-03T09:24:00.001-07:00

D & A Financial Services Pvt Ltd ("Manager to the Offer") on behalf of M/s I. C. Construction & Services Ltd ("Acquirer") along with M/s Indo Crediop Pvt Ltd & Mr Yogen Khosla ("Persons Acting in Concert"/ "PACs") ) has issued this Public Announcement ("PA") to the Equity Shareholders of Capital Trust Ltd ("Target Company"), pursuant to & in compliance with Regulation 11(1) as required under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 ("SEBI (SAST) Regulations, 1997") & Subsequent amendments thereto.

The Offer:

The Acquirer intend to make an Open Offer in terms of the SEBI (SAST) Regulations, 1997 to the shareholders of the Target Company to acquire 15,00,000 equity shares of Rs 10/- each representing 20% of the total paid up capital/ voting share capital of the Target Company at a price of Rs 10.00 (Rupees Ten Only) per fully paid up equity share ("Offer Price") payable in cash subject to the terms & conditions mentioned in PA.

Schedule of Activities:

Specified Date - July 24, 2009

Date of Opening of the Offer - August 19, 2009

Date of Closing of the Offer - September 07, 2009

Fame India - Updates

2009-07-03T09:23:00.001-07:00

Fame India Ltd has informed BSE that the Company has commenced operations of its new multiplex at Fame Kalyan w.e.f. July 03, 2009. The new multiplex has 5 screens including one exclusive Gold Class screen of 46 seats which is accompanied with an exclusive Gold Class Lounge. The multiplex has an overall capacity of 1320 seats.

With this, the total number of operational properties and screens of the Company are 22 and 79 respectively, including the above.

Disa India - Updates on Open Offer

2009-07-03T09:22:00.003-07:00

Ambit Corporate Finance Pvt Ltd ("Manager to the Offer") on behalf of Hamlet Holding II ApS ("Acquirer") & DISA Holding II A/S, DISA Holding A/S & DISA Holding AG ("Person Acting in Concerts"/ "PACs") has issued this fifth Corrigendum to the Public Announcement to the Equity Shareholders of Disa India Ltd ("Target Company"), which is in continuation of and should be read in conjunction with the PA dated December 17, 2008 & the subsequent 4 Corrigenda published on February 02, 2009, February 18, 2009, April 14, 2009, May 28, 2009.

The shareholders of the Target Company may please note that on June 16, 2009, the Tribunal has deferred the hearing of the appeal to July 21, 2009.

Terms used but not defined in this Fifth Corrigendum to the PA shall have the same meaning as assigned in the PA, the Corrigendum to PA, the Second Corrigendum to the PA, the Third Corrigendum to the PA and the Fourth Corrigendum to the PA.

Kirloskar Oil - Updates

2009-07-03T09:22:00.001-07:00

Kirloskar Oil Engines Ltd has submitted to BSE a copy of Notice published in the newspaper on June 30, 2009, in respect of Notice of Petition under Sections 391 to 394 of the Companies Act, 1956 for sanction of an arrangement embodied in the Scheme of Arrangement between Kirloskar Oil Engines Ltd and Kirloskar Engines India Ltd.

ICRA - Updates

2009-07-03T09:21:00.003-07:00

ICRA Ltd has informed BSE that the ESOS Compensation Committee of the Company in its meeting held on March 24, 2007 granted Options to the Eligible Employees of the Company and its Subsidiary Companies. 40% Options (excluding Options lapses) were vested on March 24, 2008 and 30% options (excluding Options lapsed) on March 24, 2009. As per Clause no. 7.5 of the Employees Stock Option Scheme, 2006 (ESOS 2006) of the Company, the vested Options shall become available for exercise in whole or in installments over a period of time ending later than 5 years from the date of vesting (i.e. Exercise Period).

In accordance with the ESOS 2006, an eligible Optionees has submitted their requests in the month of June 2009 for exercise of Options vested to them on March 24, 2008 and March 24, 2009 along with the exercise price and Fringe Benefit Tax. After receiving the exercise amount, the ICRA Employees Welfare Trust has issued Equity Shares of ICRA Ltd in the month of June 2009 to the Optionees who has exercised his options.

Integrated Amusement - Updates

2009-07-03T09:21:00.001-07:00

Integrated Amusement Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 28, 2009, inter alia, decided to do business into chemical and related products business. Accordingly passed the special resolution in the meeting of the shareholders to diversified its activities in the field of chemicals etc. vide special resolution passed in the meeting of the shareholders held on May 25, 2009 pursuant to Section 149 (2A) of the Companies Act, 1956 and the shareholders of the Company have given approval in the general meeting held on May 25, 2009 to pursue the activities into chemical and agro chemical products.

Mercator Lines - Updates

2009-07-03T09:20:00.001-07:00

Mercator Lines Ltd has informed BSE that the Company have redeemed 8th installment of 900 11.25% Secured Redeemable NCDs of 5,62,500/- each aggregating to Rs 50.62 crores Series VII-A due on July 30, 2009 out of privately placed debentures.

Accordingly, the outstanding NCDs is now 900 - 11.25% Secured Redeemable NCDs of Rs 5,00,000/- each aggregating to Rs 45,00,00,000/-.

Visagar Polytex - Updates on Rights Issue

2009-07-03T09:19:00.003-07:00

Visagar Polytex Ltd has informed BSE that the Company has filed the Draft Letter of Offer with SEBI on June 30, 2009 for issue of rights shares. The Company has proposed to raise Rs 55.8 million to fund its existing business operations & expansion plans via the proceeds of the 5:1 rights issue of 37,20,000 equity shares (rights issue of 5 shares for every share held) at Rs 15/- each (Rs 10/- face value plus Rs 5/- premium).

Avery India - Updates on Delisting Offer

2009-07-03T09:19:00.001-07:00

ICICI Securities Ltd ("Manager to the Offer") on behalf of AV Co 3 Ltd ("AV Co 3" or "Acquirer"), has issued this Public Announcement to the Equity shareholders of Avery India Ltd ("Target Company"/ "AIL"/ "Company"), which is in continuation & should be read in conjunction with Public Announcement dated June 19, 2009 (Original PA) & Original Bid Letter dated June 19, 2009, pursuant to Clause 10 of the Securities & Exchange Board of India (Delisting of Securities) Guidelines, 2003 ("Delisting Guidelines"), in respect of the proposed acquisition and consequent delisting of the fully paid up equity shares of the Company ("Shares") under the Delisting Guidelines.

1. DISCOVERED PRICE

The "Discovered Price" determined through the reverse book building process ("RBP") using the electronic facility of the BSE. in accordance with the Delisting Guidelines (being the price at which the maximum number of Shares were validly tendered) is Rs 135/- per Share (the "Discovered Price").

2. EXIT PRICE AND DELISTING

The Acquirer has accepted the Discovered Price and will acquire all the Shares validly tendered at or below the Discovered Price in the Delisting Offer (the "Exit Price"]. The settlement of funds will be in accordance with the procedure and timelines specified in the Bid Letter.

The Shares of the Public Shareholders, whose Bids, have not been accepted pursuant to the RBP. will be returned to them or released from pledge.

The Public Shareholders holding physical Share certificates may tender their Shares at the Exit Price during the period commencing from July 7, 2009 and ending on July 21, 2009, as per the instructions contained in the Bid Letter and the Form of Acceptance.

All the Public Shareholders of the Company holding Shares in dematerialized form, who did not or were not able to participate in the RBP or who unsuccessfully tendered Shares in the RBP, will be able to offer their Shares to the Acquirer at the Exit Price during a period of six months starting From the date of delisting of the Shares of the Company from the Stock Exchanges in accordance with the Delisting Guidelines. Such date will be intimated to the Public Shareholders by the Company.

Post the acceptance of the Shares validly tendered in the Delisting Offer at or below the Exit Price and completion of acquisition of such Shares, the public shareholding of the Company will fall below 25% being the minimum public shareholding limit specified by the listing agreement. Consequently, the Acquirer will initiate necessary steps to delist the Shares of the Company from BSE and CSE.

Terms used but not defined in this PA shall have the same meaning assigned to them in the Original PA and the Bid Letter.

All other terms and conditions of the Offer as set forth in the Original PA and the Bid Letter remain unchanged.

Orissa Sponge - Disclosure of acquisition of equity shares of Orissa Sponge Iron & Steel Ltd by Bhushan Energy Ltd

2009-07-02T10:18:00.001-07:00

Bhushan Energy Ltd has informed BSE that Bhushan Energy Ltd ("BEL") along with Mr. Brij Bhushan Singal, Mr. Neeraj Singal, BNS Steel Trading Pvt. Ltd, BBN Transportation Pvt. Ltd, BNR Infotech Pvt. Ltd, BNR Consultancy Services Pvt. Ltd and Bhushan Steel Ltd, have issued a public announcement ("PA") dated February 27, 2009 and published on February 28, 2009, to the shareholders of Orissa Sponge Iron & Steel Ltd ("OSIL"), in compliance with Regulations 10 & 12 of Chapter III of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and any subsequent amendment thereto, (the "Takeover Regulations"), to acquire on a voluntary basis, up to 6,100,000 fully paid-up equity shares of Rs 10 each of OSIL, representing 20% of the Diluted Capital of OSIL (as defined in the PA), at a price of Rs 330 per equity share of Rs 10 each of OSIL, payable in cash ("Offer").

On July 01, 2009, BEL has acquired 12000 equity shares of Rs 10 each of OSIL, constituting 0.044% of the current issued and paid-up share capital of Rs 27,00,00,000 of OSIL, at a price of Rs 352.71 per equity share (through various transactions) by way of open market purchase ("Acquisition").

Further July 02, 2009, BEL has acquired 15503 equity shares of Rs 10 each of OSIL, constituting 0.057% of the current issued and paid-up share capital of Rs 27,00,00,000 of OSIL, at a price of Rs 352.81 per equity share (through various transactions) by way of open market purchase ("Acquisition").

The Acquisition was made pursuant to the provisions of Regulation 20(7) of the Takeover Regulations.

National Plastic - Updates

2009-07-02T10:17:00.001-07:00

National Plastic Industries Ltd has informed BSE that the Company has during the year 09-10 given its Dahisar property on rent to Carnation Auto India Pvt. Ltd. (a joint venture between Wipro and Jagdish Khatter, ex-managing director of Maruti Udyog) on a net rent of Rs 120.00 Lac per annum. The rental agreement is for a period of seven and half years subject to rent escalation clause.

Panama Petrochem - Updates

2009-07-02T10:16:00.001-07:00

Panama Petrochem Ltd has informed BSE that the Company had issued Convertible Warrants on preferential basis dated December 31, 2007.

The warrant holders were entitled to convert the warrant into equal number of equity shares within a period of 18 months from the date of issue of such warrant at a price of Rs 150 per share.

In terms of SEBI guidelines, the warrant holders had made 10% upfront payment at the time of issue of such warrants. The warrant holders have failed to convert their warrant into equity shares within the requisite period of 18 months, which expired on dated June 30, 2009.

In terms of SEBI guidelines, the 10% upfront payment made by the warrant holders stand forfeited.

Balaji Telefilms - Updates

2009-07-02T10:15:00.003-07:00

Balaji Telefilms Ltd has informed BSE that the Company has received a show cause cum demand notice from the office of the Commissioner of Service Tax, Mumbai for an amount of Rs 63.5 crores plus interest and penalty pertaining to the service tax payable for the period April 01, 2006 to March 31, 2008 on account of exports made to one of the clients.

The Company is pursuing all legal remedies available to it in relation to the same.

Reliance Industries - Updates

2009-07-02T10:15:00.001-07:00

Reliance Industries Ltd has informed BSE that one of the Crude Distillation Units at Jamnagar DTA Refinery will be commencing a planned shutdown from July 03, 2009 for an estimated duration of about 2-3 weeks for carrying out routine maintenance work.

With other units in the refinery scheduled to be operating as usual, product sales & dispatches will continue at the normal levels during the above period.

This shutdown will also be used as an opportunity for implementing significant efficiency improvement measures in the unit.

Hindustan Dorr - Updates

2009-07-02T10:14:00.000-07:00

Hindustan Dorr Oliver Ltd has informed BSE that the Company has circulated a resolution to all the Board of Directors seeking their approval for raising resources not exceeding Rs 250.00 crores by way of Rights Issue and / or for Non Convertible Debentures with warrants and to authorize the Executive Committee to decide on the detailed tents and conditions of the Issues subject however to the necessary approvals.

Enso Secutrack - Updates

2009-07-02T10:13:00.004-07:00

Enso Secutrack Ltd has informed BSE that Company had issued Foreign Currency Convertible Bonds (FCCB) vide its offering circular dated April 30, 2008 aggregating US $ 12 Million 3 percent Convertible Bonds due 2013 and it provides for a Conversion Price Reset based on the pre fixed criteria.

Accordingly on the Reset date as per terms of the Offering Circular, Conversion Price has been adjusted in accordance with the pre fixed criteria.

Strides Arcolab - Updates

2009-07-02T10:13:00.003-07:00

Strides Arcolab Ltd has informed BSE that the Company has purchased:

- USD 18.50 million aggregate face value of USD 100 million 0% convertible bonds due 2012

- USD 2.00 million aggregate face value of USD 40 million 0.50% convertible bonds due 2010

Further, the Company may also purchase from the markets and extinguish additional Bonds from time to time at its sole discretion.

HDIL - Updates

2009-07-02T10:13:00.001-07:00

Housing Development & Infrastructure Ltd (HDIL) has informed BSE that pursuant to the approval of Shareholders at the Extra Ordinary General Meeting of the Company held on June 17, 2009, has completed the followings:

1. Issue of 7,03,50,000 Equity Shares at a price of Rs 240/- per share - including premium of Rs 230 per Share under QIP Issue.

2. Issue of 26,000,000 Equity Warrants on preferential basis convertible in to Equity Shares each at a price of Rs 240/- per share - including premium of Rs 230 per Share to the promoter of the Company.

In this regard, the Company has submitted a copy of the resolution passed at QIP Committee of the Board of Directors of the Company held on July 02, 2009.

Punj Lloyd secures Infrastructure contracts worth Rs 1873.18 crore (US $ 387.08 million) for utilities In Libya

2009-07-02T10:12:00.001-07:00

Punj Lloyd Ltd has informed BSE that the Company has secured three contracts from Housing and Infrastructure Board, Libya for designing, procurement, installation and commissioning of utilities at Zawara, Ragdaleen and Al Jamail towns in Libya for an aggregate value of Rs 1873.18 Crores (Rupees One Thousand Eight Hundred Seventy Three Crores and Eighteen Lacs only).

The Company has issued a Press Release in this regards.

LG Balakrishnan - Updates

2009-07-02T10:11:00.001-07:00

LG Balakrishnan & Bros Ltd has informed BSE that the Company has entered into an Agreement with the promoters, directors of M/s. M M Gears Pvt. Ltd, a Company engaged in the manufacture of Gears & Gear boxes, for acquisition of 100% shares of the Company and subject to satisfactory due diligence.

Hindalco Industries - Updates

2009-07-02T10:10:00.000-07:00

Hindalco Industries Ltd has informed BSE that the Company has reached agreement and received lenders consent on revised terms including covenant relaxations relating to the U5$ 982 million bank loan. The new terms allow the Company significant flexibility to plan its future business and pursue its capital expenditure aspirations going forward. Under the new agreement reached banks have agreed to waive requirement to test covenants on consolidated financials.