THE HINDU BUSINESS LINE
Financial Daily
from THE HINDU group of publications

Monday, October 23, 2000

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Page One

Reliance seeks nod to divest thru GDRs/ADRs
THE Reliance group has sought the approval of the Finance Ministry to disinvest its shares abroad through issuance of either global depository receipts (GDRs) or American depository receipts (ADRs).

IDBI may review offshore listing
IDBI's poor performance on the bourses is likely to force the institution to reconsider its plans for an overseas equity listing.

Recovery of NPAs -- Ministry drafting law for ARCs
ASSET reconstruction companies (ARCs) are finally set to become a reality in the financial sector. After several years of vacillation, the Government has set in motion the process of drafting fresh legislation to facilitate the setting up of such compani es.

Renaissance to raise offer
THE Delhi-based Renaissance Estate Ltd is prepared to further up the revised open offer price of Rs 27 per share for the shares of Gesco Corporation, if necessary, Mr Abhisek Dalmia, a Director of the bidding company, has said.

Indal to centralise decision-making
IN a major exercise, the new promoter of Indian Aluminium Co Ltd (Indal) -- Hindalco Industries of the Aditya Birla group -- has decided to introduce a new corporate culture in the company.


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