Linde In­dia delist­ing of­fer

The Hindu Business Line - - MARKET WATCH - PTI PTI

Linde In­dia has re­ceived a delist­ing pro­posal from its pro­moter BOC In­dia. The BOC group, which holds 75 per cent in Linde In­dia, in­tends to ac­quire 2.13 crore shares or 25 per cent of the paid-up share cap­i­tal, it said in a no­tice to the ex­changes. The ob­jec­tive of mak­ing the delist­ing of­fer is to ob­tain full own­er­ship, which will pro­vide the pro­moter group with oper­a­tional flex­i­bil­ity to sup­port the com­pany’s busi­ness and fu­ture fi­nanc­ing needs, the state­ment said. The delist­ing price will be de­ter­mined in ac­cor­dance with the re­verse book build­ing process as set out in the delist­ing reg­u­la­tions. Reliance In­dus­tries on Fri­day said it has raised ₹3,000 crore through a pri­vately placed deben­ture is­sue. The un­se­cured, non­con­vert­ible re­deemable deben­tures of­fered 8.95 per cent re­turn with a 10-year ma­tu­rity, the com­pany said in a reg­u­la­tory fil­ing. The notes “shall be re­deemed at par at the end of 10 years from the date of al­lot­ment — No­vem­ber 9, 2028,” it said. RIL, which has in­vested more than $30 bil­lion over the past five years across en­ergy, petro­chem­i­cals, re­tail, and tele­com ver­ti­cals, did not say where it will use the pro­ceeds of the is­sue. Two In­dian-ori­gin broth­ers have been charged by the US fed­eral reg­u­la­tor for de­ceiv­ing in­vestors by pur­port­ing to pro­vide un­bi­ased re­search re­ports on cer­tain pub­licly-traded small- and mi­cro-cap com­pa­nies. Ajay Tan­don, 41, and Amit Tan­don, 47, of New York and stock re­search firm SeeThruEquity co-founded by them were charged by the SEC. Ac­cord­ing to the SEC’s com­plaint, SeeThruEquity and the Tan­don broth­ers cam­ou­flaged the pay­ments by invit­ing com­pa­nies to make a “pre­sen­ta­tion” at an in­vestor con­fer­ence in or­der to re­ceive a re­search re­port for free.

Wall Street ef­fect Asian stock mar­kets fell on Fri­day af­ter a post-elec­tion Wall Street rally faded amid ex­pec­ta­tions of US in­ter­est rate hikes de­spite the Fed­eral Re­serve’s de­ci­sion to hold off this week AP

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