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News Roundup: Sai Infosystems To Hit Capital Markets

26 August, 2009

XL Telecom Gets $2.5 Mn From Credit Suisse – Hyderabad-based XL Telecom & Energy Limited has said that a committee of its board has allotted 621,718 equity shares of Rs 10 each at a premium of Rs 150 per share to Credit Suisse (Singapore) Limited upon conversion of foreign currency convertible bonds to the extent of $ 2.5 million (about Rs 12.5 crore). (Business Standard)

Sai Infosystems To Hit Capital Markets – Ahmedabad-based Sai Infosystems (India) Limited (SIS) is expected to hit the capital markets by the last quarter of the current fiscal 2009-10. The IT solution provider plans to file a DHRP by September this year. SIS has also revised its investment plans for the various projects and now intends to raise Rs 200-300 crore instead of Rs 100 crore as planned earlier. (BS)

JSW Energy To Raise Rs 9,000 Cr In Next 18 Months – Sajjan Jindal led  JSW Energy plans to raise Rs 9,000 crore via multiple routes. Out of the proposed amount to be raised, the company will borrow around Rs 5,000 crore and the remaining Rs 4,000 crore will be raised from the market and through internal generation.  It had already filed a draft red-herring prospectus for a Rs 3,000 crore public offering with market regulator Sebi and will dilute 10% of its equity. JSW Energy will utilise the amount for the Rs 14,048 crore projects under implementation. (Business Standard)

CARE Appoints Dogra As MD & CEO – Credit Analysis & Research Ltd (CARE), a credit rating agency, has appointed D R Dogra as managing director and chief executive officer of the company. His appointment is effective from August 22, 2009. Prior to this, Dogra was functioning as deputy managing director with CARE. (DNA)

Tech Mahindra Wins $500 Million Swan Contract – IT major Tech Mahindra has won around $500 million outsourcing contract from new telecom entrant Swan Telecom. Besides Tech Mahindra, groups like IBM and Wipro also participated in the bidding process. Officials from Emirates Telecommunications or Etisalat, which had acquired 45% stake in Swan for $900 million last year, also participated in the decision making. (Economic Times)


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News Roundup: Sai Infosystems To Hit Capital Markets

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