Bizbits

IDBI Bank to go publicMUMBAI: IDBI Bank Ltd, a new private sector bank, promoted by IDBI and SIDBI, has filed its prospectus with Sebi fo...

IDBI Bank to go public

MUMBAI: IDBI Bank Ltd, a new private sector bank, promoted by IDBI and SIDBI, has filed its prospectus with Sebi for making a public issue of four crore equity shares at a price between Rs 17 and Rs 20 per share. The bank was formed on the basis of an expert plan charted by KPMG Peat Marwick on an application software platform provided by Kindle Banking Systems (leading international providers of software for

banks) and is the youngest amongst new generation private sector banks. For the year ended March 1998, the net profit of the bank stood at Rs 20.05 crore, earnings per share Rs 2.01 and net asset value Rs 12.47 per share. The bank has also received a rating of "PR1+" from CARE for its certificate of deposits (CDs) programme.

Epson Printer

MUMBAI: Seiko Epson Corporation (SEC), the $ 7 billion turnover Japanese conglomerate, is introducing in India four new state-of-the-art computer inkjet printers including world’s most sophisticated, only one of its kindcolour inkjet stylus color 740 which has the smallest ink droplet. T Yakuwa, general manager of Epson, said in 1998-99 global inkjet market was expected to be 54 million units and this would expand to 60 million in 1999-2000. Epson is expected to garner 36% of Indian market for 1998-99.

MJP-GoM meet

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MUMBAI: The Department of Water and Sanitation, Government of Maharashtra, in association with Maharashtra Jeeven Pradhikaran (MJP) and the Indo-USAID Financial Institutions Reform and Expansion (FIRE) project, organised a state level workshop on improved management systems for urban water supply and sanitation services at Nashik Research and Trading Centre recently. The workshop was inaugurated by V Ranganathan, additional chief secretary for water supply and sanitation.

Leisure expo

MUMBAI: The 3rd Leisure India Expo held in Mumbai recently attracted over 1000 business visitors from various parts of the country specially those with existing leisure centres to update and expand theirfacilities and others wishing to develop new centres. The four interactive seminars were well received. The speakers included experts from the leisure industry from India and international.

Rave Tech

MUMBAI: Rave Computers Pvt Ltd and the UK-based TKG Ltd have announced their plans to merge in order to realise synergies in their worldwide software operations. The merged entity will be named Rave Technologies with offices in Mumbai and London. This announcement was jointly made by Anand Jhaveri, managing director, Rave Computers and Simon Dension-Smith, managing director, TKG. The merger is likely to have an impact in the international client-server based software industry.

Blue Label

MUMBAI: "Sir" Blue Label, a new brand in the strong beer segment has been launched by U G Enterprises. The beer is brewed by Mohanrocky Springwater Breweries Ltd which is the oldest manufacturing group of companies in India at Khopoli in Maharashtra.

Sangli Bank

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MUMBAI: Shivajirao Shinde,founder member of Sangli Sakakari Bank Ltd, has been elected unanimously as chairman for 1998-99. Shinde has been associated with this bank since its inception.

Share rigging

MUMBAI: The Bombay Stock Exchange has clarified that none of the three brokers, Amrish Valia, Rajan P Mehta or Dimple Shah, accused of price manipulation in the Gujrat Cotex scrip, were its members and that "they have no relation whatsoever with the exchange".