PREFERENTIAL ALLOTMENTS
Funds' move to trigger open offer for Matrix
`THE `mode of acquisition' of equity holding in Matrix Laboratories Ltd by two global funds - the US-based NewBridge Capital and the Singapore Government-owned Temasek Holdings — is heading towards triggering an open offer to the Matrix ... More

OVERSEAS BORROWINGS
Norms set for Indian Depository Receipts
Stiff entry: $100 m capital + reserves, $500 m average turnover
COMPANIES incorporated outside the country can now raise resources from the Indian capital market with the Government notifying norms for issue of Indian Depository Receipts (IDRs). However, only strong overseas companies would be allowed ... More

Reliance Energy raises $178 m via bonds issue
POWER generation and distribution company Reliance Energy Ltd, formerly BSES, has raised $178 million (Rs 805 crore) through foreign currency convertible bonds (FCCB) on Monday. The bonds have a maturity of five years and will have zero ... More

INTERVIEW
Elgi Equipments' thirst for tech upgradation
THE Coimbatore-based Elgi Equipments Ltd (EEL) has never shied away from adopting the latest technology. Its Managing Director, Dr Jairam Varadaraj, has always maintained that the company would rather invest in technology than spend huge sums in ... More

DIVERSIFICATION
Phillips Carbon Black to get into power trading
PHILLIPS Carbon Black (PCBL), a RPG group company, is planning to amend its memorandum of association in order get into power trading. PCBL has units in West Bengal, Kerala and Gujarat. Sources say this was part of the Rs 543-crore company's ... More

Mid-day Multimedia gets set for big screen foray
JUST as Mumbai is the focus for Mid-Day, the afternoon newspaper of Mid-Day Multimedia Ltd, the city will provide the backdrop for its films. The company, which is making a foray into film production, will position its film stories around ... More

BONUS ANNOUNCEMENTS
Jubilant Organosys shareholders' clear bonus issue plan
THE shareholders of Jubilant Organosys Ltd have approved the issue of bonus shares in an extraordinary general meeting. The bonus shares will be issued in the ratio of 3:5, ie the shareholders will get three new shares for every five shares held ... More

OUTLOOK
IACO sees good scope in AC service business
IACO, which is in the air conditioner distribution business, floated its branded service arms - airForce and airfield in the year 2000. The two divisions engaged in providing a turnkey service in planning and implementation of new air ... More

PERFORMANCE
Hyundai Motor sales up 68 pc in February
HYUNDAI Motor India Ltd said on Tuesday that it sold 15,508 cars in February - 11,590 units in the domestic market and 3,918 in the export market. Domestic sales recorded a 68 per cent increase over February 2003 when the company sold 6,887 ... More

Toyota posts 56 pc rise in Feb sales
TOYOTA Kirloskar Motor (TKM) sold a total of 3,511 vehicles in February posting a 56 per cent increase in sales compared with the same period a year ago. The Corolla sold 759 units in February, registering an increase of 138 per cent, while ... More

PEOPLE