L&T announced after market hours yesterday, 7 January 2016, that L&T Hydrocarbon Engineering (LTHE), a fully owned subsidiary of L&T, in consortium with McDermott has bagged an offshore contract from ONGC valued at Rs 2450 crore for the development of ONGC's Vashista and S1 deepwater fields situated off the East Coast of India. LTHE's share in the consortium is Rs 640 crore.
HDFC after market hours yesterday, 7 January 2016 announced that its wholly owned subsidiary HDFC Capital Advisors has been appointed as an investment manager for the HDFC Capital Affordable Real Estate Fund-1 (HCARE-1). HCARE-1 is a Sebi registered Alternative Investment Fund (AIF) and has been sponsored by HDFC. HDFC said that the fund has received an aggregate commitment for an amount of Rs 2700 crore from various investors. One of the key objectives of HCARE-1 is to primarily make medium to long term investments towards development of mass housing where the residential units would be priced in a manner so as to cater to the residential demand of the urban middle-income households. HDFC said that the targeted fund size is approximately Rs 5000 crore and the first close will be Rs 2700 crore. The tenure of the fund will be 12 years and it will invest in the long-term equity of mid income housing, HDFC said.
Canara Bank after market hours yesterday, 7 January 2016 said that as per the powers delegated by the board of the bank, the bond committee has decided to raise Basel III compliant Tier -II bonds amounting to Rs 900 crore (as Series - II) by way of private placement. Accordingly, the bank has successfully raised Rs 900 crore under Basel III compliant Tier-II bonds on 7 January 2016 with a coupon of 8.40% per annum. With this, the bank has raised Rs 2400 crore under Basel III compliant Tier-II bonds during the current financial year ending 31 March 2016.
Bharati Shipyard after market hours yesterday, 7 January 2016 announced that it has allotted on 7 January 2016, 26.47 lakh convertible warrants to Edelweiss Finance & Investments. The company has received 25% amount towards the issue price i.e. Rs.5.50 per warrant, totaling to Rs 1.45 crore from Edelweiss Finance & Investments. The board of directors of the company at its meeting held on 7 January 2016 approved for issuance and allotment of 26.47 lakh convertible warrants at Rs 22 per warrant on preferential basis to Edelweiss Finance & Investments in compliance with all statutory and relevant regulations.
Technocraft Industries (India) after market hours yesterday, 7 January 2016 announced that it has decided to form a joint venture in the form of LLP, under the name and style of "Technocraft Garments LLP" with Mr. Rangappa Ramaraj (hereinafter referred as the other partner) who is having more than two decade's experience in textile industries and who is capable of generating and executing garment business. The proposed joint venture will procure fabric and manufacture and market garments for specialized market. The capital contribution of the LLP will be Rs 1 lakh out of which the company's contribution will be Rs 95,000. The profit/loss sharing ratio of the company and the other partner will be 60:40.
Seamec after market hours yesterday, 7 January 2016 announced that its vessel Seamec III had been mobilised in Mumbai High North for redevelopment of phase III pipeline projects of ONGC. The tenure of the contract will continue till mid-February 2016. The value of the charter would be around $3 million.
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