2. SBI likely to price its Eurobomd
issue this week
The State Bank of India is likely to announce the
pricing of its 500 million Eurobond issue this week.
The bank has appointed 6 European banks to help it
raise funds.
The banks include: Deutsche Bank, StanChart,
HSBC, BNP Paribas, Barclays and Credit Agricole
CIB.
SBI’s offer would be the first large Euro issue by an
Indian borrower since March 2007.
3. Bank of Baroda hikes retail term
deposit rates by up to 75 bps
Bank of Baroda has announced an increase in the
interest rate on certain retail term deposit schemes by
up to 75 basis points, with effect from November 29.
The interest rates were hiked for deposits of less than
Rs 1 crore.
The interest rate on deposits with a maturity period
of 271 days and above, but less than one year, has
been increased by 50 basis points to 6.75 per cent.
Furthermore, the rates for deposits with a tenor of
between one year and 443 days have also been hiked
by 50 basis points to 7.75 per cent.
4. Emami ready to spend up to Rs 1,000-
cr for overseas buys
Leading FMCG player, Emami is ready to spend up to Rs
1,000-crore for an overseas acquisition in the personal-care
segment.
The company had, early this year, acquired an Egyptian
personal-care manufacturer for around Rs 25-crore.
The deal size could range anywhere between Rs 50-crore-
1,000-crore.
Emami has already announced that it has got its Board
approval to raise long-term resources up to Rs 2,000-crore
through issue of securities .
The limit of borrowings has been increased to Rs 3,000-
crore from the earlier Rs 1,500-crore.
5. ONGC stock to be halved to lure retail
investors in FPO
The government has approved splitting each share of
Oil & Natural Gas Corp (ONGC) into two, making it
attractive and affordable for retail investors ahead of
the follow-on public offer (FPO).
In this the government will divest 5% of its holding
next year.
The company’s stock soared to a 52-week high of
Rs.1,472 on sep. 28 on BSE.
This share rose 2.48% to Rs.1,296.75 on 22 Nov.
