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Tomorrow’s News Today : Omaxe, Punj Lloyd On QIP

13 July, 2009

Omaxe Reconsidering QIP : Construction firm Omaxe is reconsidering its QIP plans due to the fall in prices. It earlier informed the exchanges that its board has approved raising of additional long-term funds through further issuance of securities in the company, reports ET Now, a private news channel. The QIP issue was supposed to happen at Rs 125/ share but with the markest tanking, it plummeted to Rs 75/ share. This could have meant further equity dilution by the promoters who own 89% of the company. The news channel reported that the construction firm has not deferred the QIP plans but reconsidering it. 

 

Punj Lloyd Raising Money Through QIP : Punj Lloyd has raised approval for raising Rs 1500 crore,it informed the exchanges. Atul Punj, the company’s chairman told CNBC-TV18, that the company is looking to raise funds via the qualified institutional placement (QIP) or the non-convertible debenture (NCD) route. Punj said part of the funds will be used for capex needs and part to retire debt.

Maytas Infra Appoints SBI cap As Advisor For Debt Restructuring : Maytas Infra has informed the exchanges that it has appointed SBI cap as advisor for debt restructuring.


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Tomorrow’s News Today : Omaxe, Punj Lloyd On QIP

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