Fortis Healthcare will be watched. Fortis Healthcare International, a step-down subsidiary of Fortis Healthcare (Fortis), has finalised the sale of its Singapore hospital to Concord Medical Services (International) (CCM), for a consideration of SGD 55 million. The deal will be completed on or about 6 April 2015.
Opened in July 2012, the 31 bed private facility known as the Fortis Surgical Hospital (FSH), brings together the expertise of renowned surgeons in the delivery of advanced surgical procedures in Colorectal, Urology, Gynaecology, Plastic and General Surgeries. FSH specialises in minimally invasive procedures and offers the full spectrum of clinical interventions including laparoscopic and robot-assisted surgeries. Close to 100 robot-assisted surgical procedures have so far been successfully performed at the hospital.
Cairn India will be in focus. Vedanta Resources Plc (Vedanta), the holding company of Cairn India with approximately 59.9% interest in the company on Friday, 27 March 2015 in a filing to the London Stock Exchange said that Cairn India, a subsidiary of Vedanta received an assessment order from the Indian Income Tax Department regarding a decision by the Government of India (GOI) in 2012 to amend the Indian Income Tax Act 1961 to impose retrospective tax on various prior transactions. In this respect, Vedanta's Board of Directors has instructed counsel to file a Notice of Claim against the GOI (Notice) under the UK-India bilateral investment treaty (the BIT) in order to protect its legal position and shareholder interests.
Tata Teleservices (Maharashtra) (TTML) said it won spectrum in 800 MHz band in Mumbai and Maharashtra. TTML succeeded in winning additional spectrum of 2.5 MHz each in 800 MHz band in Mumbai and Maharashtra circles with bid values of Rs 1819 crore and Rs 1999 crore, respectively. The spectrum validity is for 20 years and the company has option of deploying technology of its choice in this spectrum. The total upfront payment to be made by TTML is at Rs 955 crore. This investment reaffirms the commitment to provide world class services to the customers. This additional spectrum is in addition to the current holding of 3.75 MHz in Mumbai and 2.5 MHz in Maharashtra in 800 MHz band, where the Company has an option to liberalize the spectrum in accordance with the terms of the Notice Inviting Application (NIA) released by the Department of Telecommunications (DoT). TTML also currently holds spectrum in 1800 MHz in Mumbai and Maharashtra and also 3G spectrum in 2100 MHz spectrum band in Maharashtra. The win in Mumbai and Maharashtra gives TTML the ability to offer premium 3G/4G services in the superior 800 MHz spectrum band post liberalization of the existing spectrum holdings in this band. This will enable TTML to further strengthen its position in the fast growing data segment, where 'Tata DOCOMO Photon' brand is a leader in this segment. The Group Company, Tata Teleservices (TTSL), which operates in 17 circles Pan India (other than Mumbai and Maharashtra) has also won 1800 MHz and 800 MHz in certain circles.
SKS Microfinance said it completed the eighth securitization transaction in financial year ending March 2015 (FY 2015) of Rs 344.35 crore. With this, the total sum of securitizations completed during FY 2015 (YTD) is Rs 1558.66 crore. The entire pool qualifies for Priority Sector treatment as per the Reserve Bank of India's Priority Sector lending guidelines. The pool has been rated AA (SO) by a leading rating agency, signifying a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.
Meanwhile, SKS Microfinance said it issued Commercial Papers for an amount of Rs 50 crore, which have been rated 'A1+' by a leading rating agency. Instruments with the aforesaid rating are considered to have a very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk. The aggregate Commercial Paper outstanding as on date is Rs 95 crore.
Pennar Industries said its subsidiary, Pennar Engineered Buildings Systems, filed a Draft Red Herring Prospectus with Securities Exchange Board of India (Sebi) on 27 March 2015. The proposed initial public offer consists of fresh issue of equity shares and offer for sale by selling shareholders.
EID Parry India divested its entire shareholding of 1.02 lakh equity shares of Rs 100 each in Alagawadi Bireshwar Sugars, a wholly owned non-operating subsidiary for a consideration of Rs 1.70 crore.
Kirloskar Industries allotted on 27 March 2015, 6 lakh Compulsorily Convertible Preference Shares (CCPs) of Rs 100 each aggregating to Rs 6 crore on preferential basis to Vijay R Kirloskar, promoter of the company.
Kirloskar Electric Company allotted on 27 March 2015, 6 lakh Compulsorily Convertible Preference Shares (CCPs) of Rs 100 each aggregating to Rs 6 crore on preferential basis to Vijay R Kirloskar, promoter of the company.
Prime Focus said that the India Ratting & Research (Ind-Ra) has changed the company's Long-Term Issuer and Non-Convertible Debentures rating from 'A-' (Negative Outlook) to 'BBB+' (Stable).
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