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ONGC to raise $1 bn to service Imperial loan
Oil & Natural Gas Corporation (ONGC), India’s biggest energy explorer, plans to raise $1 billion (Rs 4,669 crore) in a month to refinance debt its unit incurred in the purchase of UK-based Imperial Energy Plc amid low interest rates.

ITI surges 11%
The stock jumped 11 per cent to Rs 50.65, after the government approved a proposal under which the telecom equipment manufacturer will continue to get orders for 30 per cent of the product requirement of BSNL and MTNL.

News of the day

Pokran II row: Sethna slams Kalam, Iyenger says done in haste
Homi Sethna, the guiding force behind India"s first nuclear test in 1974, today waded into the 1998 Pokhran row when he slammed former President A P J Abdul Kalam suggesting he was no qualified authority to rubbish former DRDO scientist K Santhanam"s claim that the explosion was not a full success.
Public Company

Gammon India to raise Rs 958.6 crore in QIP

Construction and engineering firm Gammon India today said it had decided to raise $200 million (Rs 958.6 crore) in qualified institutional placement (QIP) in accordance with Sebi rules. The board of directors took a decision to this effect at its meeting held on Friday, Gammon India said in a disclosure to the BSE. - Glenmark raises Rs 413 cr in QIP - Sesa Goa to raise up to Rs 6,000 crore - Gammon India to raise Rs 958.6 cr via QIP - Glenmark Pharma raises Rs 413 cr through QIP - Unity Infraprojects gets shareholder nod for raising Rs 250 cr - Sesa Goa to raise Rs 6,000 cr for capex, acquisitions The board approved the proposal to further issue securities to qualified institutional buyers upto an amount not exceeding $200 million, it said. The fund raising proposal is subject to final clearance from shareholders and regulatory authorities. The board also decided on the draft notice of a postal ballot, seeking shareholders permission for the proposed fund raising, it said. The firm is involved in the development of infrastructure projects on public private partnership (PPP) basis through its subsidiary, Gammon Infrastructure Projects Ltd.


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