Bizbits

quot;Being able to get out of that box is crucial for Indian programmers if they want to move up the value chain,quot; Gartmore global emerging markets fund manager Christopher Palmer said.

Ajanta Pharma IPO opens on March 23

MUMBAI: Ajanta Pharma Ltd, a profit making company with uninterrupted dividend record for the last 11 years, is making its first public issue on March 23, consiting of 30,13,759 equity shares of Rs 10 each at a premium of Rs 215 per shares. After the issue, part from public holdings of 25 per cent, the promtors, relatives and friends shall continue to hold a 56.79 per cent stake in the company, foreign institutions will hold on 11.95 per cent and other corporate bodies will hold 4.76 per cent. The remaining 1.50 per cent consists of warrants issued under the company ESOP scheme.

Indal to pay 25 interim

CALCUTTA: Indian Aluminium Company Ltd Indal has recommended a second interim dividend of Rs 2.50 per ordinary share of Rs 10 each. Earlier, interim dividend of Rs 2.50 per share had been announced in October, 1999, which led to an increase of 25 per cent during 1998-99, the release added.

Dubai Shopping Festival

MUMBAI: Dubai Shopping Festival DSF 2000, the fifth annual shopping, entertaiment and cultural extravaganza, will be held from March 1 to 31, 2000, with a variety of events revolving round mother, the theme of this year8217;s event, and the introduction of online shopping facility for net shopper across the globe. The annual shopping event is expected to attract over two million vistors who will be flocking to the tiny but commercially vibrant emirate to avail of some great shopping bargains and enjoy the unique attractions of one of the fastest growing tourism destination in the world.

During DSF 99, a record number of 2.4 million vistors came to Dubai from across the globe, resulting in incremental sales of 1.12 billion during 28 days of the festival, surpassing all expectations.