11 Dec 07 BOC India plans Preferential issue of shares to Linde AG

BOC India has informed the stock exchanges that the board of BOC India has approved a Preferential issue of shares to BOC India’s German promoter, Linde AG. As per the announcement made, a preferential allotment of 3.62 crore shares will be made to Linde AG. The preferential allotment price has been fixed at Rs. 165 per share. Preferential issue of shares is generally considered to be bad for the minority shareholders since their stake will go down. If the intention was to raise capital, BOC India could have gone with a rights issue instead of preferential issue. Preferential issue is against the shareholders Preemptive Right and hence should be avoided by the company where ever possible.

27 May 07 HDFC preferential share issue

Housing Development Finance Corporation (HDFC) has informed the stock exchnages that the board of directors of HDFC has decided to issue 18 million equity shares of Rs. 10 each on preferential basis at a price of Rs. 1730 per share. The board of HDFC has also decided to increase the authorised share capital from Rs. 275 crores to Rs. 325 crores.

09 May 07 Strides Arcolab preferential allotment

Strides Arcolab has informed that the board of directors of Strides Arcolab have resolved to allot 52 lakh fully convertible debentures(FCDs) to Elcemar Almeida and Associates at Rs. 400 per Fully Convertable Debenture. Strides Arcolab has convened an EGM on 28 May 2007 to get shareholders approval for the issue of fully convertible debentures (FCDs) to Elcemar Almeida and Associates.