Ind-swift Labs to offer shares to IDBI, IIBI
The board of Ind-swift Laboratories has informed that, in order to re-structure the debt of the company and to reduce the burden of the interest on the company, it has approved the issue upto 36 lakh preference/equity shares on preferential basis to the IDBI and IIBI, the term lending institutions, subject to necessary approvals. Further, the board has approved the issue of preference shares amounting in aggregate to around Rs 7.50 crore to promoters on preferential basis as per SEBI guidelines.S&D offer to buy Himalaya shares
US based S&D Mushrooms Inc has offered to purchase 10 lakh shares of Himalaya International at a price of US$ 1.7. The firm has also signed an MoU to purchase 70 containers of mushrooms per year from Himalaya International Ltd.
CIBAC gets new chairman
United Distillers and Vintners (UDV) managing director Deepak Roy has taken over as chairman of Confederation of Indian Alcoholic Beverage Companies (CIBAC) from Vijay K Rekhi, president of the UB Group Spirits division.
Manugraph net sales up 22%
Manugraph Industries has recorded a net sale of Rs 109.66 crore for the year ended March 31, 2000, an increase 22 per cent as compared to Rs 89.67 crore in the corresponding period in 1999. The board has recommended a 20 per cent dividend for the year ended March 31, 2000.
Snowcem to acquire stake
Snowcem India has entered in to an agreement to acquire 50 per cent stake in a Sri Lankan paint manufacturing company. The company besides providing technical assistance would also be export raw material to Sri Lanka, the company notified the BSE.
SREI net rises 25 per cent
SREI International Finance has posted a 25 per cent increase in net profit to Rs 2.59 crore over the corresponding quarter last year. Business transacted during the quarter rose to Rs 74 crore from Rs 32 crore in the corresponding period.
Leela Kempinski gets new GM
Philippe Charraudeau, an international hotelier of repute has joined The Leela Kempinski, Mumbai as the general manager. Earlier, he was general manager of the famous All Suite hotel, Burj Al Arab in Dubai.
Castrol signs pact with REVL
Castrol India has signed with Chennai based Rane Engine Valves Ltd (REVL) for the total supply of their lubricant requirement. Under the arrangement, Castrol will supply the complete range of oils required by REVL and undertake the lubricant management for the company.
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