Date:30/12/2005 URL: http://www.thehindubusinessline.com/2005/12/30/stories/2005123003101500.htm

Back India Infoline plans to raise Rs 100 cr

Our Bureau

Mumbai , Dec. 29

INDIA Infoline Ltd said today it plans to raise Rs 100 crore through an issue of optionally convertible bonds to DSP Merrill Lynch Capital and equity to the Times Group.

The stocks and commodity broking company said it plans to make a preferential issue of optionally convertible bonds of Rs 80 crore to DSP Merrill Lynch Capital Ltd, a 100 per cent subsidiary of DSP Merrill Lynch Ltd.

It also plans to make a preferential allotment of 11.76 lakh shares to Bennett Coleman & Co Ltd of face value of Rs 10 each at a price of Rs 170. Total investment would be Rs 20 crore.

The company's board also approved the acquisition of Marchmont Capital Advisors Pvt. Ltd