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Disinvestment not a forgotten word in 2009
Disinvestment of public sector companies gathered steam in the first year of UPA-II that saw two PSUs-- Oil India and NHPC-- raising around Rs 8,600 crore from IPOs and the way was cleared for divestment in three more state-run power companies in the new year.

JSW Energy scouting for partners, acquisitions
JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business and in its proposed distribution business. The company has shortlisted three companies for the proposed partnership in transmission.

News of the day

Yahoo! India appoints Arun Tadanki as managing director
Internet search major Yahoo! today appointed Arun Tadanki as the managing director of its India operations.
Public Relations

Edserv Softsystems gets shareholders' nod for raising funds

Education solutions provider Edserv Softsystems today said it has received approval from its shareholders to raise funds through various options, including issuing securities of up to $500 million (about Rs 2,200 crore) in the overseas market. - Godrej seeks shareholders" nod to buy Godrej Sara Lee - Adhikari Bros completes 100% FCCB buyback - 2009 a mixed year for primary markets - IPO saga: Promoters garner Rs 20k cr; public gets Rs 20 cr - Overseas borrowings slip from October high - 17 FCCB violations investigated, says govt The shareholders, at the extra-ordinary general meeting of the company held today, approved the "issue of American/Global depository receipts or FCCB (foreign currency convertible bonds) not exceeding a sum of $500 million," Edserv said in a filing to the BSE. They also approved the "power of the company to mortgage or hypothecate the assets of the company whether movable or immovable up to a sum not exceeding Rs 2,000 crore", it said. Shareholders also approved the company"s plan to borrow up to Rs 2,000 crore from various avenues.


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