Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: cpt :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: VAT Audit :: VAT RATES :: form 3cd :: ACCOUNTING STANDARD :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: empanelment
 
 
« News Headlines »
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government
 Deadline to pay property tax in old currency extended
 Cabinet clears amendments to Income Tax Act

Havells gets FDI nod, but with a rider
June, 07th 2008

Havells Indias foreign direct investment (FDI) proposal of infusing equity shares and warrants worth Rs 278 crore in the Indian market has been approved by the Foreign Investment Promotion Board (FIPB).

However, this has come with a rider stating that the company will have to obtain licence from the Department Of Industrial Policy And Promotion (DIPP) and undertake 50% export obligation on manufacturing items reserved for the small-scale sector.

The riders have been introduced on the insistence of the ministry of micro, small and medium in a bid to protect the interests of those sectors. All other ministries and departments including the DIPP, commerce, revenue and economic affairs, had given the project its nod.

The approved proposal consists of 41,60,000 equity shares of Rs 5 each at a price of Rs 625 per share, aggregating to Rs 260 crore and 26,00,000 warrants convertible into shares at Rs 690 per warrant, aggregating to Rs 17.94 crore. The issued warrants are convertible into equity shares of Rs 5 each on or before the expiry date fixed at 18 months from the date of their allotment.

The investors equity shareholding in the company constitutes around 7.18% of the companys post-issue paid-up equity share capital. Upon exercise of all warrants, the investors equity shareholding in the company will constitute around 11.17% of the companys post-issue post-conversion paid-up equity share capital. The investor has not exercised any warrants so far.

Total non-resident shareholding before the issue of subscription was 19.06%, which has moved to 24.88% after subscription but before conversion of warrants. The resident shareholding was 80.94% before the issue, whereas post-subscription, it stands at 75.12%. Post-conversion, non-resident shareholding has increased to 28.10% and the resident shareholding is 71.90%.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and Development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions