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Wednesday, December 25, 2013

TOP FIVE CORPORATE NEWS




·     ICRA signs MOU with Punjab National Bank

ICRA and PNB have signed a Memorandum of Understanding under which ICRA will assign ratings to Small Enterprises/Small Scale Industries and Small and Medium Enterprises that are borrowers of the Bank.


·        NTPC seeks waiver to bid for UMPP

NTPC planning to bid for the upcoming ultra mega power project and seeking exemption from the investment ceiling on the state-run utility. The UMPPs are expected to cost Rs 25,000-30,000 crore, which would require an equity investment of over Rs 7,500 crore from the developer.


·        Amtek India acquires Kuepper Group in Germany

Amtek India Limited has signed a contract, through a special purpose vehicle, to acquire the Kuepper Group of companies for an undisclosed cash consideration.


· Allahabad Bank gains after preferential share allotment to government
Allahabad Bank rose as it has allotted 4.45 crore equity shares at Rs 89.72 per share to the Government of India on preferential allotment basis.

·        IRB receives financial closure for projects


IRB Infrastructure Developers Ltd has announced that IRB Westcoast Tollway Pvt. Ltd. has achieved 
financial closure in terms of the Concession Agreement executed with NHAI, by tying up of Project 
finance of Rs. 1,406 Crore            

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