ICICI Bank is now the single largest shareholder ahead of promoter Manoj Tirodkar after it assumed a 29.3% stake in the debt laden company GTL. The shares were acquired at a value of Rs 68.2 and at this price the bank has been able to recover Rs 194 crs of the Rs 500 crs [...]
Archive for the ‘General’ Category
ICICI Bank acquires a stake of 29.3% in GTL on taking over pledged shares
August 1st, 2011
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SEBI announces new Takeover Code
July 29th, 2011
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The much awaited and debated SEBI Takeover Code was finally announced at the SEBI Board meet in Mumbai on Thursday the 28th of July. The Code has three major changes which are as follows: – The trigger point or threshold limit has been changed from 15% to 25%. This means that if the person/entity or [...]
Standard Chartered IDR conversion into underlying shares: Rules changed by SEBI
June 5th, 2011
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Standard Chartered Bank PLC had come out with a IDR issue in May 2010. The issues was listed on the 11th of June 2010 and as per the terms and conditions, holders of the IDR after one year of the listing were in a position to convert the IDR into the underlying shares provided they [...]
