Maruti Profit May Slump 40 Per Cent

The government has decided to keep open the price band for the retail

offering of one million shares of Videsh Sanchar Nigam Ltd (VSNL) set

for launch in early-August.

The prospectus for the offer was filed with the Securities and Exchange

Board of India on Thursday.

There is also a possibility that the retail offering will be marketed to

OCBs and non-resident Indians, government sources said.

The VSNL offer will be the first central PSUs where the price band has

been kept open for the retail investors, with the earlier case being the

MTNL GDR offering in November 1997.

The other state run PSU Gujarat Mineral Development Corporation has kept

 

the price band open when it hit the markets last year.

The issue will be marketed