Religare promoters declare open offer

RHC Finance Pvt Ltd, along with RHC Holding Pvt Ltd, proposes to acquire 2.8 crore shares of Religare Enterprises Ltd, representing 21.7% of the current share capital (20% of the diluted share capital) of the target company.

The shares will be bought at a price of Rs457 apiece. There are no partly paid-up equity shares of the Religare Enterprises Ltd, according to the lead manager, Kotak Mahindra Capital Company Ltd. This offer is not subject to any minimum level of acceptance. The offer opens on 13th October and closes on 1 November 2010.

On Wednesday, Religare Enterprises shares declined 4.5% to Rs478 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% down at 18,179 points.

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Info Edge plans to invest Rs4.7 crore in DC Foodiebay Online Services

Info Edge (India) Ltd, provider of online classifieds, said it plans to invest upto Rs4.7 crore in DC Foodiebay Online Services Pvt Ltd, an online food guide and restaurant directory business.

Info Edge (India) had recently approved the issue of bonus shares in the ratio of 1:1 to the existing equity shareholders of the company, as on the record date, as may be fixed. This is however subject to the approval of shareholders of the company.

On Wednesday, Info Edge shares ended 1% down at Rs1,035 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% down at 18,179 points.

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Atlanta wins order worth Rs54.7 crore

Construction and engineering, Atlanta Ltd in consortium has received an order worth Rs54.7 crore from the chief engineer office, National Highways, Orissa.
The scope of the work includes widening and strengthening of existing intermediate lane to two lane carriage of National Highway 224.

On Wednesday, Atlanta shares declined 1.9% to Rs356 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% down at 18,179 points.

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