Abhijeet Power is considering a pre-IPO placement of up to 30.33 crore equity shares with various investors for an amount not exceeding Rs500 crore
Abhijeet Power Ltd has filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) of its equity shares of face value of Rs10 each for cash at a price to be decided through the book-building process and aggregating to Rs1,375 crore. The promoters of the company are Manoj Jayaswal, Abhijeet Mining Ltd and Corporate Ispat Alloys Ltd.
The issue comprises a reservation of equity shares aggregating up to Rs10 crore for eligible employees. The issue less the employee reservation portion constitutes the net issue to the public. The company is considering a pre-IPO placement of up to 30.33 crore equity shares with various investors for an amount not exceeding Rs500 crore. The pre-IPO placement will be at the discretion of the company and at a price to be decided by the company. The company will complete the issuance and allotment of equity shares pursuant to the pre-IPO placement prior to filing of the red herring prospectus with the RoC. If the pre-IPO Placement is completed, the issue size offered to the public would be reduced to the extent of such pre-IPO placement, subject to a minimum issue size of 10% of the post-Issue paid-up equity share capital being offered to the public.
Trimax IT Infra provides cloud computing services, data centre services, IT infrastructure solutions with on-site support across India
Trimax IT Infrastructure & Services has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) of 1.19 crore equity shares of face value of Rs10 each for cash at a price to be decided through the book-building process. The issue comprises a fresh issue of 95.85 lakh equity shares and an offer for sale of 23.91 lakh equity shares by BanyanTree Growth Capital LLC. The issue shall constitute 25.07% of the post-issue paid-up capital of the company.
Trimax IT Infrastructure & Services provides cloud computing services, data centre services, IT infrastructure solutions and turnkey solutions coupled with on-site support across India.
The price band and the minimum bid lot size will be decided by the company and the selling shareholder in consultation with the book running lead managers (BRLMs) and will be advertised at least two working days prior to the bid opening date. The BRLMs to the issue are Kotak Mahindra Capital, Religare Capital Markets and SBI Capital Markets.
Banks will have to credit the wrongly debited amount to the customer’s account due to failed ATM transactions within seven days of the complaint from Friday onwards, as against the current norm of 12 days
As per an RBI (Reserve Bank of India) directive, banks will have to credit the wrongly debited amount to the customer’s account due to failed ATM transactions within seven days of the complaint from Friday onwards, as against the current norm of 12 days.
However, the number of free transactions allowed at ATMs of banks other than where a customer holds the account would now also comprise non-financial transactions like balance inquiry.
Currently, customers are allowed a limited number of free transactions, generally five, for cash withdrawal and other financial transactions from other bank ATMs, while there is no cap on number of free non-financial transactions like balance inquiry, PIN change and mini statement.
This will change with effect from 1 July 2011, as RBI has allowed the number of free transactions permitted per month at other bank ATMs to be inclusive of all types of transactions, financial or non-financial.
Besides, these free transactions would be available to only the savings bank account holders. The banks have started informing their respective customers about the proposed changes from 1 July 2011.
In one such notification, HDFC Bank said it would charge Rs20 per financial transaction such as cash withdrawal beyond five free ones.
Besides, it would charge Rs8.50 for every non-financial transaction such as balance inquiry, PIN change and mini statement after the five free transactions a month.
At the same time, HDFC Bank said that it "will credit such wrongly debited amounts within a period of 7 working days from the date of the complaint".
As per RBI guidelines, the banks would have to pay Rs100 per day beyond 7 working days, but only if the complaint is lodged within 30 days of the date of the transaction.
In another measure to check any fraudulent use of bank accounts, the banks have also been told by RBI to provide SMS and email alerts to the customers for every transaction from tomorrow, as against the current practice of alerts for only select transactions beyond a certain amount.