ITV

Tag: GDRs

  • DEN to get foreign investment by way of shares but within limit approved in August

    DEN to get foreign investment by way of shares but within limit approved in August

    NEW DELHI: DEN Networks Limited has been permitted to get foreign investment in the company by way of issue of shares or underlying securities like QIIs/ADRs/GDRs/FCCBs and other permitted securities for its telecom business.

    However, the Foreign Investments Promotion Board (FIPB) has said that DEN had been granted approval on 14 August last year for investment from FIIs/NRIs/FPIs upto 74 per cent in the company and this fresh application would be within the same approved foreign investment limit and thus involve no extra foreign investment.

    At the same time, the Ministry approved the proposal by the telecom player Atria Convergence Technologies seeking approval for transfer of its shares from existing non-resident shareholders to Argan (Mauritius) Limited and TA FVCI Investors Limited. This will not involve any foreign investment.

    The Ministry forwarded to the Cabinet Committee on Economic Affairs the proposal of ATC Asia Pacific Pte. Ltd seeking approval has been sought for acquisition of 51 per cent of the shareholding of Viom Networks Limited by ATC Asia Pacific Pte. Ltd. (ATC Singapore) by way of transfer from existing shareholders as it involved a huge foreign direct investment of Rs 5856.51 crore.

    On the other hand, the Finance Ministry on the advice of FIPB deferred the proposal by Jasper Infotech for making downstream investment in Macro Commerce by purchasing 50 per cent stake in the company from DEN Networks, which is its existing holding company.

  • DEN to get foreign investment by way of shares but within limit approved in August

    DEN to get foreign investment by way of shares but within limit approved in August

    NEW DELHI: DEN Networks Limited has been permitted to get foreign investment in the company by way of issue of shares or underlying securities like QIIs/ADRs/GDRs/FCCBs and other permitted securities for its telecom business.

    However, the Foreign Investments Promotion Board (FIPB) has said that DEN had been granted approval on 14 August last year for investment from FIIs/NRIs/FPIs upto 74 per cent in the company and this fresh application would be within the same approved foreign investment limit and thus involve no extra foreign investment.

    At the same time, the Ministry approved the proposal by the telecom player Atria Convergence Technologies seeking approval for transfer of its shares from existing non-resident shareholders to Argan (Mauritius) Limited and TA FVCI Investors Limited. This will not involve any foreign investment.

    The Ministry forwarded to the Cabinet Committee on Economic Affairs the proposal of ATC Asia Pacific Pte. Ltd seeking approval has been sought for acquisition of 51 per cent of the shareholding of Viom Networks Limited by ATC Asia Pacific Pte. Ltd. (ATC Singapore) by way of transfer from existing shareholders as it involved a huge foreign direct investment of Rs 5856.51 crore.

    On the other hand, the Finance Ministry on the advice of FIPB deferred the proposal by Jasper Infotech for making downstream investment in Macro Commerce by purchasing 50 per cent stake in the company from DEN Networks, which is its existing holding company.

  • Zee Learn raises $20 million through GDRs

    MUMBAI: It’s gone the global depository receipts (GDR) route. On 21 May, Essel Group education company Zee Learn Ltd, informed the stock exchanges that it had has raised $20 million (Rs 110 crore) through GDRs,

    The company said the GDR issue was fully subscribed and an allotment of 5.6 million GDRs at a price of $3.56 per GDR is to be made. Each GDR represents 10 underlying equity shares and the GDRs are to be listed on the Luxembourg Stock Exchange.

    Zee Learn runs India‘s largest chain of pre-schools under brand Kidzee with more than 900 centres in more than 330 cities. It also acts as a consultant to local entrepreneurs who wish to set up K-12 schools, under its brand name Mount Litera Zee Schools. It operates vocational education under Zee Institute of Media Arts (ZIMA) – a TV and film training institute and Zee Institute of Creative Art (ZICA) – a classical and digital animation training academy.