Financial Daily from THE HINDU group of publications
Tuesday, May 30, 2006

Cross Currency

Group Sites

Corporate - Private Placement

Videocon to raise funds through QIP route

Our Bureau

Mumbai May 29

The recent guidelines issued by SEBI for Qualified Institutional Placement (QIP) has attracted another company, Videocon Industries Ltd (VIL), to raise funds from the domestic market through this route.

The company is planning to go in for placement of equity shares or securities other than warrants, which are convertible into or exchangeable with equity shares, under the May 8 guidelines issued by the regulator for QIP.


In this connection, the company has informed the BSE that an Extra Ordinary General Meeting of the members will be held on June 26 to seek approval for placement of equity shares or securities under the recent SEBI guidelines.

In order to make Indian markets more competitive, SEBI had decided to introduce an additional mode for listed companies to raise funds from domestic market in the form of QIP. Securities that can be issued through QIP are equity shares or any securities other than warrants, which are convertible into or exchangeable with equity shares at a later date.


As per the guidelines, the specified securities can be issued only to Qualified Institutional Buyers, who should not be the promoters or related to promoters of the issuer either directly or indirectly. Further, the floor price of the specified securities should be determined on a basis similar to that for GDR or FCCB issues and would be subject to adjustment in case of corporate actions such as stock splits and rights issue.

More Stories on : Private Placement | Consumer Electronics

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Sajjan Jindal keen to invest in Bengal

IVRCL allots shares to FCCB holders
GM India to launch `mini car' next year
Videocon to raise funds through QIP route
Star not to give DTH signals till July
Panyam Cements debenture issue
Tractorul setback not major: M&M
Provogue eyes acquisitions
UB Group not to outbid competitor for Taittinger
Soros picks up stake in Amtek Auto
TAC to merge with SPIC
L&T plans to spend big on infrastructure projects
Sundram Fasteners plans new units
Shree Renuka in pact with Brazil co
Fuel price hike of Rs 2 inadequate: BPCL
SIDBI Venture picks up stake in Indo Shell Mould
NCC board recommends 1:1 bonus
Branded foods to drive HLL growth
9 new directors on BEL board
Punjab Tractors MD resigns
New Company Secretary for Pricol

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line