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For Yash Raj Films small is bountiful
The small screen reality show, My Fan My Hero, starring Bollywood biggies has got sponsors vying for ad slots.

Slumdog Millionaire author invited to Capitol Hill
Advocacy group, USAsian has commended globally acclaimed author Vikas Swarup for receiving the US-India Business Council’s 34th anniversary award and for being invited to the Capitol Hill by the co-chairs of the Congressional Caucus on India and Indian-Americans.

News of the day

Sunny re-rating of pharma companies
The Bombay Stock Exchange’s Healthcare Index has outperformed its benchmark, the BSE Sensex, surging 33 per cent in six months (Sensex up 17 per cent) and 21 per cent in the past three months (Sensex up 8 per cent), indicating that investors have started re-rating pharmaceutical companies.
Public Relations

Sobha Developers raises Rs 527 cr through QIP

Construction firm Sobha Developers today said it has raised Rs 526.89 crore through qualified institutional placement (QIP) by allotting over 2.51 crore equity shares of Rs 10 each. - HDIL raises Rs 1,688 cr from Fidelity, Blackstone - Emami raises Rs300cr from QIP issue - Shree Renuka Sugars raises Rs 506 cr via QIP issue - Hindalco plans to raise Rs 2,400 cr via QIP - Emami raises Rs 310 crore through QIP issue - S Kumars to raise Rs 1,000 cr to fund expansion plans The committee of board of directors took a decision to this effect at its meeting held on Friday, Sobha Developers said in a filing with the Bombay Stock Exchange. The committee allotted 25,162,135 equity shares at a price of Rs 209.40 per share to qualified institutional buyers aggregating Rs 526.89 crore under the Sebi guidelines, it said. The share price of Rs 209.40 included a premium of Rs 199.40 as per the Sebi rules under qualified institutions placement, it said. The QIP issue is apparently aimed at raising fresh capital and bring down its debt burden. The company has an accumulated debt close to Rs 1,850 crore. Sobha Developers, having land bank of around 3,000 acres, is reportedly actively considering various measures to reduce debt burden. A year ago, valuations of realty companies soared based on their land bank assets. Now, realtors are looking at various options to cut debt burdens and meet capital requirements for operations with realty prices falling and buying sentiments turning negative. Shares of the company closed at Rs 225.65, up 0.94 per cent from its previous close on the BSE.


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