05 Nov 07 Larsen & Toubro GDR issue : L&T to go in for a GDR issue

Indian infrastructure development and capital goods major, Larsen & Toubro (L&T) plans to go for a GDR issue. Larsen & Toubro will raise US$ 400 million through the issue of Global Depository Receipts. L&T has planned to list the GDR’s in the Luxembourg stock exchange. The funds raised through the GDR issue will be used to finance the new ventires of L&T, including its proposed ship building venture which is likely to be through a Joint Venture with Ficantieri, a leading European shipbuilding company. In an other unrelated development, Larsen and Toubro and Mitsubushi Heavy Industires, today signed a Joint Venture agreement for setting up a manufacturing plant in India to produce super critical steam turbine and generator in India.

02 Jun 07 UTI Bank FPO (follow on public issue)

UTI Bank has informed the stock exchanges that the board of UTI Bank has decided to raise capital through a FPO by issuing upto 4,23,97,400 equity shares. UTI Bank may also go in for an ADR / GDR issue. The board of UTI Bank has also resolved to increase the authorized share capital of UTI Bank from Rs. 300 crores to Rs. 500 crores to accomodate the new capital that UTI Bank is planning to raise through a FPO and ADR/GDR issue