Net4 India has signed partnership agreement with Smartphone solutions of Finland to use their push mail solution, SmartMail for the first time in India
Net4India, the leading network and application services provider, announced its strategic partnership with Finland-based company Smartphone Solutions to bring operator-independent push mail solutions equivalent to Blackberry services in India for the first time.
Net4India is looking forward to take its service to all handheld devices together with Smart Phone Solutions, an independent provider of next-generation mobile solutions for corporations and organisations. Net4 India has signed partnership agreement with Smartphone solutions of Finland to use their push mail solution, SmartMail for the first time in India. With this partnership, more than 200 mobile devices across different platforms, including Symbian, UIQ, Win Mobile and Android will be enabled for services including real-time access to emails, calendars, contacts and tasks with a mobile device. This service intends to bring easy and secure communication regardless of time and place and would extend solutions for organizations to improve efficiency and serve their customers better.
Desi S Valli, COO, Net4India, said, "Currently Net4 supports blackberry phones, but with the introduction of SmartMail flexible service that supports the entire range of handheld devices, Net4India is excited to take this first of its kind service to great heights in India. The best part of SmartMail is that it complies with the security norms set by the government of India, therefore creating an example of expertise and authenticity. We look forward to this great liaison not just amid the companies but between Finland and India."
The fund raising will finance Vivimed’s ongoing expansion plans for speciality chemicals at its existing locations
Hyderabad-based Vivimed Labs Ltd said that it has raised Rs127 crore of funds through a preferential allotment to two private equity investors-NYLIM Jacob Ballas India Fund III LLC (NYLIM JB Fund) and Kitara Capital. NYLIM JB Fund invested Rs67 crore to subscribe for compulsorily convertible preference shares, which will be converted in 18 months at a price of Rs315 per share, for a 13.2% shareholding in Vivimed on a fully diluted basis. Kitara invested Rs60 crore to subscribe for equity shares at a price of Rs327 per share, for an 11.4% shareholding in Vivimed on a fully diluted basis.
The fund raising will finance Vivimed's ongoing expansion plans for speciality chemicals at its existing locations in Bidar (Karnataka), Hyderabad, a green field project (SEZ) off Vizag at Pydibhimavaram, a USFDA compliant facility for pharmaceuticals at Choutuppal near Hyderabad, acquisitions of pharmaceutical marketing companies in India and overseas acquisition of an API manufacturing company in Europe.
Santosh Varalwar, managing director and CEO of Vivimed said, "It indeed was need of the hour to ensure funding of all the Vivimed Labs' aggressive growth plans and will help the company catapult to new levels of performance."
Srinivas Chidambaram, managing director and CEO, Jacob Ballas Capital India Pvt Ltd, investment advisor to NYLIM-JB Fund, said "The transnational team led by Santosh Varalwar has ambitious growth plans and NYLIM-JB Fund is proud to be a long term financial partner to help realise their vision." A nominee of NYLIM JB Fund will join Vivimed's board of directors in due course.
In the morning, Vivimed was trading at around Rs242.60 per share on the Bombay Stock Exchange, 2.41% up from the previous close.
SEBI has also asked merchant bankers to disclose price information of past issues handled by them in Draft Red Herring Prospectus, Red Herring Prospectus and prospectus filed with Registrar of Companies
Mumbai: The Securities and Exchange Board of India (SEBI) on Tuesday simplified application-cum-bidding form for public offer with modification in structure, design, contents among others to make it more investor-friendly, reports PTI.
From 1st November onwards, the application-cum-bidding form would be printed in a booklet form of A4 size paper, SEBI said in a statement.
Besides, there will be a single form for ASBA (Application Supported by Blocked Amounts) and Non-ASBA applicants as per the changed rules.
In order to ensure uniformity and to facilitate easier identification, colour of the form has also been standardised.
The application form will be white for resident Indian and eligible NRIs applying on a non-repatriation basis, it said.
Eligible NRIs, FIIs and their sub-accounts will have to apply in a blue form excluding sub-accounts which are foreign corporates or foreign individuals bidding under the QIB portion, it said.
On text of the data fields, the market regulator has changed the placements of some data fields for ease of reference by investors.
"Company specific information is now included in an abridged prospectus," the regulator said.
These new guidelines shall be effective from 1 November 2011 for all upcoming public offers filed on or after the said date.
It has also added new data fields like discounts, net price, etc, to help investors to pay the correct amount.
As per the new rules, signature of only the first bidder would be required in case of joint holders.
SEBI has also introduced additional provision for stamp of broker or SCSB branch.
SEBI, which had received board approval for these changes on 26th July, notified the order on Tuesday.
In a related development, SEBI has made it mandatory for merchant bankers to disclose their track record in offer documents for public issues.
Issuing instructions in this regard, the market watchdog has asked merchant bankers to disclose price information of past issues handled by them in Draft Red Herring Prospectus (DRHP), Red Herring Prospectus (RHP) and prospectus filed with Registrar of Companies.
The instructions will be applicable from 1st November.
In the offers documents, merchant bankers would have to provide information of the total number of IPOs handled by them in three financial years and the funds raised.
Further they have to provide information about the status of the shares of company they had managed.
This would be in addition to due-diligence certificate which the merchant bankers are required to submit to SEBI.