OnMobile Global Limited has informed the market they have decided to go ahead with one for one bonus issue of equity shares to all the Shareholders of the company. The Bonus Shares distributed shall, for all purposes, be treated as an increase in the nominal amount of the Capital of the Company, held by each such member and not as income. The Company has achieved several significant milestones in the past ten years and as it completes a successful decade as India?s largest mobile value-added services provider, the bonus issue is in recognition of the invaluable support the Company has received from its shareholders. In addition, it is envisaged that the bonus issue will encourage greater liquidity in OnMobile shares and also enable an increase in the Authorized Share Capital of the Company. Arvind Rao, CEO & Co-Founder, OnMobile Global Limited said “OnMobile has completed the deployment of the largest international project in 10 years in Latin America. The early results of this project are encouraging. The Company is optimistic about its future growth. Commemorating the 10 Anniversary year for OnMobile Global Limited, the Company is pleased to announce that the Board of Directors in their meeting held on March 07, 2011, subject to the approval of the shareholders through Postal Ballot, approved for issue of Bonus shares to the equity shareholders of the Company in the ratio of 1:1 to reward its shareholders.
Sorry this post was there in my database and got by mistake updated now – sorry about the confusion – originally they had the proposed interest rate and they changed it when the bond opened itself .State Bank of India informed the market that it has cut the interest rate on its proposed public issue of subordinated bonds aggregating up to Rs 10,000 crore by 25-30 basis points for retail investors.On bonds of 10 years duration (with a call option after five years) and 15 years duration (with a call option after 10 years), the bank will offer 9.75 per cent (10 per cent earlier) and 9.95 per cent (10.25 per cent) interest respectively.In the case of non-retail investors, the bank has left the interest rates unchanged, ie, at 9.3 per cent for 10 years and 9.45 per cent for 15 years.
State Bank of India’s high-yielding bonds which was open to market yesterday which is fetching a near 10% interest for 15-year bonds from a sovereign-backed institution led to many conservative investors and traders piling on to buy them for which applications will be accepted in just 126 of the more than 12,567 branches.As it requires De-mat and also its not open in all the banks it will be fist cum first serve the subscription figure is not yet known as it has to be counted manually , But already investors are making Rs 13,000 in the grey market on selling bond applications for Rs 5 lakh, traders say. They are speculating the bonds will fetch at least Rs 5.2 lakh at the time of listing in March. These transactions are unwritten contracts between traders in a select group that are honored once the securities list irrespective of profits or losses.
SBI which ;aunched its bond issue for the first time to retailers in January 2011 was a huge win among the retailors is coming out with second set of BOND today .
The bank is launching its bond offering to raise up to Rs 2,000 crore, in which investors have the option to invest either for 10 years or for 15 years, with the shorter durations bonds offering 9.75% rate of interest, while the longer duration ones giving 9.95%. However, interest income from these bonds are taxable in the hands of the investors. Also, the bank will offer lower rates of interest for non-retail investors, which will be 9.30% and 9.45%, respectively for 10-year and 15-year papers.
The Bond will open up on February 21, 2011 and will close on February 28 2011, and will be listed on the debt segments of NSE and BSE.
Coal india IPO allotment is ready and can be viewed now , there is some or other allotment for everyone that have applied for , they have fixed the IPO price at 232.75 and if you have applied for 250 you would get 125 allotment .Coal India IPO Allotment status can be found here.
Wipro net profit declines 4.87% to Rs 1172.10 crore in the qtr ended September 2010 compared to Rs 1232.10 crore during the previous qtr ended september 2009. Sales rose 11.93% to Rs 6556.90 crore in the qtr ended September 2010 compared to Rs 5857.80 crore during the previous qtr end September 2009.
SBI Debut Bond that opened today had subscribed by more than 16 times on the first day itself ,We need to find where the indian retailers and HNI get the money from for applying to the Bond ans also for the Coal India IPO.
Economic times have reported that SBI’s first retail bond issue of Rs 1,000 crore was subscribed almost 17 times on the opening day itself which is like the Bond is almost done and they told its first come first serve basis .The HNI was subscribed by more than 16 times, And the Retail portion by more than 6.4 times. The bonds would offer an interest of 9.25 per cent for 10 years and 9.5 per cent for 15 years.
State bank of India to launch retail bond in the month of October 2010 .They are planning to have two type of issue in this Retail Bond they are offering.
PUBLIC ISSUE BY THE STATE BANK OF INDIA (―BANK‖ OR ―ISSUER‖) OF SERIES 1 LOWER TIER II BONDS OF FACE VALUE OF RS. 10,000 EACH AND SERIES 2 LOWER TIER II BONDS OF FACE VALUE OF RS. 10,000 EACH TOGETHER REFERRED TO AS THE ―BONDS‖) AGGREGATING TO RS. 5,000 MILLION, WITH AN OPTION TO RETAIN OVER-SUBSCRIPTION UPTO RS. 5,000 MILLION FOR ISSUANCE OF ADDITIONAL BONDS AGGREGATING TO A TOTAL OF UPTO RS. 10,000 MILLION (THE ―ISSUE‖)
SBI is selling bonds worth Rs 500 crore to retail and institutional investors with an option to retain oversubscription for another Rs 500 crore. The Rs 1,000 crore proposed to be raised will be part of the bank’s lower Tier-II bonds, which will help it enhance its capital adequacy ratio (CAR).
Issue Detail Info
Type Series 1 > It will have a maturity of 10 years with a coupon of 9.25% paid annually. It will also have a call option after five years and one day with 0.5% additional step-up after five years, in case the call option is not exercised by SBI.
Type Series 2 > which will have a maturity of 15 years, it will provide a coupon of 9.5% annually.It will have a call option after 10 years and one day with 0.5% additional step-up after 10 years if the call option is not exercised. This means that in case the call option is not exercised by SBI, the coupon on bonds shall be increased by 0.50% for the balance tenor of the bonds.
>Minimum investment is Rs 10,000 in the Bond.
Read more about this Bond here.
The issue will be opening from October 18 to October 25, 2010, with an option to close earlier and /or to extend up to a period as may be determined by ECCB. There will not be any TDS since the bonds are listed on NSE and will be compulsorily issued in dematerialised form, so investors without demat a/c will not be eligible.