Bizbits

The company expects to buy back 13,73,226 equity shares with face value of Rs 10. Triumph International Finance India Ltd was themerchant banker to the issue, SEBI said in a statement here today.

Brand equity fund

MUMBAI: The India Brand Equity Fund IBEF was launched by Minister of Commerce, Ramakrishna Hedge in New Delhi on Thursday. IBEF had been conceived as a joint initiative of government and industry to promote Indian brands in overseas markets. The Government had taken the lead in setting up the fund and contributing Rs 50 crore to its corpus.

The trust has finalised the guidelines on the basis of which applications for loans can be considered. It has also agreed to fund the promotional plans to two prominent companies: K G Denim Ltd and HMT International Ltd. K G Denim is the manfuacturer of Tiger8217; brand of jeans which is being marketed in several countries. HMT proposes to establish exclusive showrooms for HMT watches in various countries. Hegde handed over the relevant loan documents to the two companies on the occasion.