Kale to provide billing services to South American airline

The Revera system would enable LAN to comply with the International Air Transport Association's Simplified Interline Settlement and improve its billing accuracy

Tourism services provider Kale Consultants said that South American airline LAN has selected the company for processing passenger billings. In a filing to the BSE, Kale said that its Revera Interline Service will process passenger billings for LAN.

"We are happy to have LAN as our customer. This engagement is another milestone in our relationship with the airline," said Neela Bhattacharjee, head (airlines), Kale Consultants. The company further said that the Revera system would enable LAN to instantly comply with the International Air Transport Association's (IATA's) Simplified Interline Settlement and improve its billing accuracy. It would also strengthen the cash flows of the airline, the company added.

On Wednesday, Kale ended 5.48% up at Rs90.50 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.2% to 17,065.15.

 

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RDB Rasayans IPO opens on 21st September

RDB Rasayans aims to raise Rs32.4-Rs35.55 crore through the issue

Packaging material manufacturer RDB Rasayans is entering capital market with a public issue of 45 lakh equity shares on 21st September and has fixed a price band for the issue at Rs72-Rs79 per equity share.

The company aims to raise Rs32.4-Rs35.55 crore through the issue, which will close on 23 September 2011. The issue would constitute 25.40% of the fully diluted post issue paid up capital of the company, RDB Rasayans said in a statement.

The company proposes to utilise the net proceeds of the issue to finance the capital expenditure to enhance its production facilities, and meeting general corporate purposes. Chartered Capital And Investment Ltd is the sole book running lead manager for the issue.

RDB Rasayans is engaged in the manufacturing of packaging material such as PP Tape, PP woven sacks, woven fabrics, industrial woven fabric, PP woven fabrics and PP woven bags.

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SBI Mutual Fund unveils Debt Fund Series–90 Days–49

SBI Mutual Fund new issue will be open for subscription on 23rd September

SBI Mutual Fund has launched SBI Debt Fund Series-90 Days-49, a close-ended debt scheme with the duration of 90 days. The new issue will be open for subscription on 23rd September and close on 26 September 2011.

The investment objective of the scheme is to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising of debt instruments such as government securities, PSU & corporate bonds and money market instruments maturing on or before the maturity of the scheme.
 
The minimum investment amount is Rs5,000. CRISIL Liquid Fund Index is the benchmark index.

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