The Financial Express -- News

Monday, October 6 1997

Voltas puts chemicals unit, Premium Granites on block

Diversified Tata group major Voltas, presently chalking out a turnaround strategy after posting a Rs 16.8 crore loss in 1996-97, has decided to put its chemicals division -- Premium Granites -- on the block. It is also keeping its options open on forming a joint venture with a partner after hiving off the division into a separate company.

Torrent to pick up not more than 15% of FI holding in AEC

The Ahmedabad-based Torrent group will not pick up more than 15% of institutional holding in the Ahemedabad Electricity Company after having mopped up around 5% from individual shareholders in the open offer.

MSEB sets up SPV to purchase 30% equity in Dabhol Power Company

A special purpose vehicle (SPV), styled the Maharashtra Power Development Corporation, has been set up by the Maharashtra State Electricity Board to facilitate the purchase of a 30% stake in the Dabhol Power Company.

Shell seeks Centre approval to set up 100% subsidiary

Central Bank keeps cap on core project exposure at Rs 150 cr