DBS Files Winding Up Petition Against Wockhardt – Debt-ridden pharmaceutical company Wockhardt’s attempt to extricate itself from its financial mess has received another setback with Singapore’s largest bank DBS filing a winding up petition against it in the Bombay High Court. DBS had filed the petition requesting the court to liquidate Wockhardt and distribute its proceeds to its various lenders. The case, which came up for hearing on October 15, has now been adjourned to November 7. (Economic Times)
Trivitron Looking To Buy Cos In Pune – Chennai-based medical equipment manufacturer Trivitron Group is in talks with Pune-based generic device makers for a possible acquisition. This is part of Trivitron’s plans to set up a medical equipment manufacturing park in Pune. It plans to manufacture high-end technology products in its Chennai unit and make Pune the base for generic devices. Earlier, the company has acquired Pune-based Vision Engineers. (Hindu Business Line)
Indiabulls Power IPO Subscribed 22 Times – Utility Indiabulls Power Ltd’s initial public offering, which opened on October 12, is subscribed nearly 22 times in four-day time frame signalling strong institutional investor appetite for Indian shares. The portion of the sale allotted to institutions was subscribed 40.5 times, but the retail investor portion drew a tepid response and subscriptions just covered the allotment. Indiabulls Power IPO opened to raise up to $380 million. (Reuters)
Falcon Tyres To Raise Rs 100 Cr – Falcon Tyres is in talks with a couple of private equity funds to raise around Rs 100 crore through issue of fresh equity. The company has planned to raise the funds to part finance its capital expenditure of Rs 300 crore to increase production capacity. It plans to ramp up the capacity to 14 lakh pieces a month from 9 lakh now by March 2010. (Business Standard)
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