Biz File

SBI to sell gold bars
Keeping in view the enthusiastic response to the sale of 10 tola gold bars, the State Bank of India has started the sale of 10 gm gold bars with photo of goddess of wealth embodied on it. Deputy General Manager of the bank S.K. Jain said that during the day, there may be fluctuations in the gold prices resulting in the price risk but the rate of gold for retail will remain same throughout the day. The daily rate of gold will be made available at telephone no: 702023 and 702009.

ICICI issue to be out on Oct 26
ICICI Limited has entered the market with a public issue of unsecured redeemable bonds under the ICICI Safety Bonds – October, 1998 series to raise Rs 400 crore, with a right to retain over-subscription of up to Rs 400 crore. The issue offers four options – Encash Bond, Tax Saving Bond, Money Multiplier Bond and Regular Income Bond. The issue will open for subscription on October 26 and will close on November 9. ICICI has been permitted by Securities and Exchange Board of India (SEBI) to raise up to Rs 3,000 crore with a right to retain another Rs 3,000 crore in tranches over a 365-day period.