Two elected to Delhi Stock Exchange board
Two new members and as many incumbents have been elected to the board of the Delhi Stock Exchange. While Sudhir Joshi and MK gupta were new members, sitting directors Bharat Bhushan Sahni and Surinder Kumar Uboveja also made it to the board. MM Chugh, Ramesh Goel, Sanjay Kaul and Sukhwinder Lal Gupta will continue till their term expires next year. The DSE board meeting will be held on Friday to decide on the dates for election to the president's post.MFs mop up Rs 2705 crore in Nov
Net mobilisation by the mutual funds during the month ended November 30, 99 stood at Rs 2705 crore. According to the association of mutual funds in India (Amfi) total mobilisation by mutual funds for the month of November was Rs 4734 crore as against the redemption of Rs 2039 crore.
IFCI issue to open on Dec 23
The Industrial Finance Corporation of India Ltd is raising its capital base by way of launching rights issue of equity shares of Rs 10 each held, aggregating Rs 352.307 crore from December 23. The issue will close on January 21, 2000.
Melstar IPO pricing beats peers
Mumbai-based Melstar Information Technologies seems to have beaten all the software companies as far as pricing of its IPO is concerned. The company is offering 22.61 lakh shares at a price-earning multiple of as high as 44.17 (based on an annualised EPS of Rs 1.63 for the first quarter of fiscal 2000). This could be the highest priced software IPO so far in terms of offer P/E.
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