Briefly Business: NMDC base price fixed at Rs 147
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NMDC base price fixed at Rs 147
Mumbai: The government has fixed the floor price for sale of its 10 per cent stake in NMDC at Rs 147, a 7.7 per cent discount to market price. The government will raise Rs 5,828 crore from the sale through offer for sale route.
India revokes patent on Merck's asthma drug
Mumbai: The Indian Patents Office has revoked a patent for an asthma drug held by US-based Merck & Co, citing lack of invention, after pharma firm Cipla Ltd challenged an earlier decision.
Extra charge for Mathur as PF Commissioner
New Delhi: Ravi Mathur, additional secretary, ministry of labour has been given additional charge as the Central Provident Fund Commissioner.
ISB launches new family biz programme
New Delhi: The Indian School of Business has launched a new Management Programme for Family Business. The programme was launched by leaders of Indian family business groups, Adi Godrej and Sunil Kant Munjal in the presence the ISB, Dean Ajit Rangnekar, Deputy Dean Deepak Chandra and Professor Kavil Ramachandran.
NTPC 9.5% stake sale likely on January 15
New Delhi: The government is likely to sell 9.5 per cent of its stake in NTPC on January 15 which could fetch the exchequer over Rs 12,000 crore, a source in the finance ministry told PTI.
BT selling $183 mn stake in Tech Mahindra
Mumbai: BT is selling its 9.1 per cent stake in Tech Mahindra in a deal expected to raise about $183 million. Tech Mahindra shares are being sold at a floor price of Rs 855, according to a term sheet seen by Reuters.
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