Idea Cellular in spotlight on share-sale buzz

According to reports, mobile phone operator Idea Cellular plans to launch a share sale to raise as much as $500 million on Thursday to part fund its capital expenditure including a purchase of mobile radiowaves. The share sale is expected to be launched after local market hours on Thursday, reports added.

Federal Bank after market hours on Wednesday, 4 June 2014 said that RBI has given its approval vide letter dated May 27, 2014 to open a representative office of the Bank in Dubai, UAE.

Mercator after market hours on Wednesday, 4 June 2014 said that Mercator Energy Pte (MEPL), a step-down overseas subsidiary of the company, engaged in carrying on the business of oil & gas and allied services of the company, has entered into an agreement on 4 June 2014, to avail a facility of $55 million.The said facility will be compulsorily converted into equity shares of MEPL in the event of listing of its shares at a pre-determined discount to the listing price, Mercator said. In the event of non-listing of its shares, the facility will be repaid at a pre-determined yield to maturity at the end of 6 years from the first drawdown. This transaction will help MEPL to expand in the oil and gas space, Mercator said.

Shoppers Stop said that one Crossword franchisee store at Vadodara has been opened by its wholly owned subsidiary, Crossword Bookstores. Further, three Crossword franchisee stores at Udaipur, DCN Mall - Kolkata and Durgapur have been closed and three Crossword franchisee stores at Kolkata and Siliguri has been converted from franchisee stores to Own stores by Crossword Bookstores. With the closure and opening of these stores, there are now 87 Crossword stores, Shoppers Stop said.

UFLEX said that IFCI has nominated Mr Vijay Kumar Gupta as their nominee Director on the board of the company in place of Mr Shivendra Tomar.

Indiabulls Housing Finance said that on Wednesday, 4 June 2014, the company has issued and allotted 1.66 lakh equity shares of face value Rs 2 each (being 1.30 lakh equity shares issued upon conversion of warrants and the balance 36,603 equity shares issued to the eligible employees upon exercise of options vested in their favour under different ESOP Schemes of the company).

SML Isuzu after trading hours on Wednesday, 4 June 2014, said its sales rose 11.44% to 1,285 units in May 2014 over May 2013.

Global Offshore Services said after trading hours on Wednesday, 4 June 2014, that the company has sold its platform supply vessel, M.V. Kailash.

KSK Energy Ventures after trading hours on Wednesday, 4 June 2014, said that the QIP Committee of the board of directors of the company has closed the bids and approved an issue price of Rs 99 per share, which includes premium of Rs 89 per share, in connection with the proposed issue and allotment of 4.04 crore equity shares aggregating to approximately Rs 400 crore.

ICICI Bank turns ex-dividend today, 5 June 2014, for dividend of Rs 23 per share for the year ended 31 March 2014.

HDFC Bank turns ex-dividend today, 5 June 2014, for dividend of Rs 6.85 per share for the year ended 31 March 2014

Capital First turns ex-dividend today, 5 June 2014, for dividend of Rs 2 per share for the year ended 31 March 2014

Ramkrishna Forgings turns ex-dividend today, 5 June 2014, for dividend of Rs 1 per share for the year ended 31 March 2014.

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