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News Roundup: NHPC IPO To Raise Rs 1,850 Cr

23 July, 2009

NHPC IPO To Raise Rs 1,850 Cr – NHPC is set to become the first PSU firm to hit the capital markets with the government mopping up between Rs 1,550 crore and Rs 1,850 crore by divesting 4.5% stake. The issue maybe priced in a band of Rs 28 to Rs 33 per share. A final decision to this effect will be taken in the meeting of the Empowered Group of Ministers (EGoM) on July 24. (Business Standard)

SBI Caps Works on Air India Restructuring – SBI Capital Markets is preparing a roadmap to restructure and strengthen Air India,  which is suffering a monthly loss of Rs 250 crore. After study of the national carrier, the firm has estimated that it would take two years to break even if the current load factors and revenues remain the same. This comes as a high-level committee headed by the cabinet secretary prepares to review Air India’s overall performance. (DNA)

Morgan Stanley Posts Losses – Morgan Stanley today reported a loss of $159 million in the second quarter of this year, mainly due repayment of government bailout funds. Net revenues for the quarter were $5.4 billion, compared with $6.1 billion in last year’s second quarter. Morgan repaid $10 billion during the quarter from the government’s Troubled Asset Relief Program. (Business Standard)

India Cements To Invest Rs 600 Cr in Plant – India Cements has chalked out a capital outlay of Rs 600 crore to get Indo Zinc’s cement plant in Rajasthan up and running by mid-2010. Indian Cements acquired a 53% in Indo Zinc for Rs 5.3 crore earlier this week. The cement firm plans to merge the plant with the parent company later. (DNA)

 


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News Roundup: NHPC IPO To Raise Rs 1,850 Cr

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