Briefly Business

Euphoric about India's biggest IPO,possibly to garner up to Rs 15,000 crore,from the world's largest coal producer CIL,Coal Minister Sriprakash Jaiswal today said October is an auspicious month to launch the issue....

October auspicious for CIL IPO: Jaiswal

New Delhi: Euphoric about India8217;s biggest IPO,possibly to garner up to Rs 15,000 crore,from the world8217;s largest coal producer CIL,Coal Minister Sriprakash Jaiswal today said October is an auspicious month to launch the issue. Coinciding the IPO of Kolkata-headquared Coal India Ltd with festive Pooja season,the biggest celeberation in West Bengal,the finance and coal ministries are understood to have favoured launching of the issue around October 20. October is an auspicious month for the Coal India IPO. Earlier,we were trying for September-end. But because we have Durga Pooja in October,officials proposed to have it in October itself,8221; coal minister Sriprakash Jaiswal said.

SingTel ups stake in Bharti to 32.04

Singapore: Singapore Telecommunications today increased its stake marginally in Bharti Airtel to 32.04 per cent by purchasing around 15 lakh shares in an open market deal for about Singapore rpt Singapore dollar 12.45 million or Rs 42.27 crore. South East Asia8217;s largest telecoms company SingTel8217;s wholly-owned subsidiary Viridian Ltd purchased 1.58 million shares of Bharti Airtel for an aggregate cash consideration of Rs 42.27 crore or Singapore rpt Singapore dollar 12.45 million,the company said in a filing to a Singapore stock exchange.

Indusind plans to raise upto Rs 1,000 cr

Mumbai: Private-sector lender,IndusInd Bank plans to raise upto Rs 1,000-crore equity capital over the next 3-4 months 8211; a move aimed at augmenting the lender8217;s capital base and also gradually reducing the promoter stake to the permissible level. The bank is currently evaluating various options like Qualified Institutional Placement,preferential share issue and Global Depository Receipts route for the fund raising but is understood to have more preference towards the QIP route,officials said.

Apollo to invest Rs 1,800 cr,hire 23,000

New Delhi: Charting out a Rs 1,800-crore expansion plan,country8217;s leading healthcare chain Apollo Hospital today said that it plans to hire nearly 23,000 people in the next three-four years. Apollo will also increase its bed capacity to 12,000 from the current 9,000 by 2015,and this would require it to have a total workforce of 85,000 employees,Group Executive Director Operations Sangita Reddy said.

Mobile VAS to touch Rs 100,000 cr by 2020

New Delhi: With the launch of 3G and mobile broadband services later this year,the mobile value added services industry is expected to ring in a turnover of Rs 100,000 crore by 2020. According to industry experts,the VAS industry is expected to touch Rs 100,000 crores by 2020 from Rs 15,000 crore now. The mobile marketing companies attending a conference on VAS agreed that the sector will log a higher growth post the launch of 3G and BWA services.