Saturday, January 16, 1999
Gail to offload 10 per cent via book-building to FIs
The Gas Authority of India Ltd (Gail) board tied up the nitty-gritties involved in the private placement of 84 million shares with institutional investors on Thursday, paving the way for a 20 per cent divestment of Government holding in the company.
Centurion Bank chief Ashish Sen quits
Ashish Sen has stepped down from his post of managing director at Centurion Bank. Sen's contract, which expired on January 10, has not been renewed upon his request. The day-to-day affairs of the bank are at present being handled by vice-president KG Agarwal.
HDFC Bank board okays alliance with Chase Manhattan
The board of directors of HDFC Bank has approved the strategic business collaboration between the bank and Chase Manhattan Bank. This will pave the way for Chase Manhattan to pick up a stake in HDFC bank from the bank's earlier strategic partner, NatWest group.
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