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HOEC- open offer
N M Rothschild & Sons India Pvt Ltd ("Manager to the Offer") on behalf of Eni UK Holding Plc ("Acquirer") Eni S.p.A, Burren Energy India Ltd & Burren Shakti Ltd ("Persons Acting in Concert"/ "PACs") has issued this Public Announcement ("PA") to the shareholders of Hindustan Oil Exploration Company Ltd ("Target Company"), Pursuant and in compliance with Regulations 10 & 12 and other applicable provisions of the Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto ( "SEBI (SAST) Regulations" or "Regulations").
The Offer
The Acquirer is making this Offer to acquire up to 26,115,455 fully paid up shares ("Offer Size") of the Target Company representing in aggregate 20% of the Paid up equity share capital of the Target Company in terms of Regulation 21(1) of the SEBI (SAST) Regulations, at a price of Rs 144.2 per share ("Offer Price") payable in cash.Schedule of Activities
:Specified Date - April 24, 2008
Date of Opening of the Offer - June 11, 2008
Date of Closing of the offer - June 30,2008
ELF trading board to consider bonus issue
ELF Trading & Chemicals Manufacturing Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 02, 2008, inter alia, may consider a proposal for issue of Bonus Shares.The Board of Directors may also consider waiving the entitlement for the aforesaid issue of bonus shares by the "promoter Group" in accordance with Companies Act, 1956, and all other applicable provisions, if any.
Gujarat NRE coke declares results
Gujarat NRE Coke Ltd has announced the following results for the quarter & year ended March 31, 2008
:The Unaudited results for the Quarter ended March 31, 2008The Company has posted a net profit of Rs 642.00 million for the quarter ended March 31, 2008 as compared to Rs 509.30 million for the quarter ended March 31, 2007. Total Income has increased from Rs 1866.70 million for the quarter ended March 31, 2007 to Rs 3993.60 million for the quarter ended March 31, 2008.
The Un-Audited results for the Year ended March 31, 2008The Company has posted a net profit of Rs 1695.40 million for the year ended March 31, 2008 as compared to Rs 557.30 million for the year ended March 31, 2007. Total Income has increased from Rs 5336.00 million for the year ended March 31, 2007 to Rs 9179.00 million for the year ended March 31, 2008.The figures for the year ended March 31, 2007 are Audited.
Mercator lines - updates
The Company has entered into a Memorandum of Agreement (the "MOA") for the purchase of a geared Panama dry bulk carrier named 'YK Taurus' (the "Vessel"), at a total consideration price of approximately US$ 65.5 million (the "Proposed Acquisition"). Built by Tsuneishi Shipbuilding Co Ltd in Japan in 1997, the vessel is of aggregate capacity 69,186 dwt and was purchased from Ken Line, S.A., of the Republic of Panama (the "Seller").
The vessel is the second to be acquired by the Company since the Company IPO on December 14, 2007. It is currently hired on a time charter-in basis by the Company, and the time charter is scheduled to expire at the end of April 2008. The vessel is due to be delivered between June 1 and June 30, 2008, expanding the Company’s owned vessels to 9 out of which 5 are geared Panamaxes. Post- acquisition, the Company will operate a fleet of 11 dry bulk vessels, of which 9 are owned and 2 chartered-in, comprising geared and geadess Panamaxes and Kamsarmaxes with an aggregate capacity of 829,057 dwt.
The Proposed Acquisition was arrived at a willing buyer willing seller basis and the consideration was negotiated on an arm’s length basis. It is tentatively proposed to be financed by the proceeds of the IPO, internal accruals and debt.This Proposed Acquisition is expected to have a positive material impact on the net tangible assets per share, earnings per share and operating results of the Company for the financial year ending March 31, 2009

Tata Power Completes the Signing of Financial Agreements for 4000 MW Ultra Mega Power Project at Mundra, Gujarat
Tata Power Company Ltd has informed BSE that, on April 24, 2008, the Company completed the signing of financial agreements for the 4000 MW Ultra Mega Power Project coming up at Mundra, Gujarat under the Special Purpose Vehicle Coastal Gujarat Power Ltd. The cost of the project is estimated at INR 17000 crores (USD 4.2 billion) with the first of the five units to be commissioned in September 2011. The entire plant is expected to be commissioned by end of 2012.
A Consortium of Banks including leading multilateral agencies and Exim Banks are participating in the financing of this project. The financing comprises of equity of Rs 4250 crores, External Commercial Borrowings (ECB) of upto USD 1.8 billion and Rupee Loans of upto Rs 5550 crores.
In this regards the Company has issued the following Press Release :
"The Tata Power Company Ltd, on April 24, 2008 has announced the completion of signing of financial agreements for 4000 MW Ultra Mega Power Project (UMPP), coming up at Mundra, Gujarat under the Special Purpose Vehicle (SPV) Coastal Gujarat Power Ltd (CGPL). The cost of the project is estimated at INR 17000 crores (USD 4.2 billion) with the first of the five units to be commissioned in September 2011. The entire plant is expected to be commissioned by end of 2012.
A Consortium of Banks Including leading multilateral agencies and Exim Banks are participating in the financing of this project. The financing comprises of equity of Rs 4250 crores, External Commercial Borrowings (ECB) of upto USD 1.8 billion and Rupee Loans of upto Rs 5550 crores. The ECB’s include The Export-Import Bank of Korea, International Finance Corporation, Korea Export insurance Corporation, Asian Development Bank, BNP Paribas and Rupee lenders Include SBI (Lead bank for rupee lenders), India infrastructure Finance Co Ltd., Housing and Urban Development Corporation Ltd., Oriental Bank of Commerce, Vijaya Bank, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Travancore and State Bank of Indore. SBI Caps are the Financial Advisors and Mandated Lead Arranger for Rupee loans.
Speaking on the occasion, Mr. Prasad N Menon, Managing Director, Tata Power said "The signing of the financing agreements for Mundra UMPP is an important milestone. The good response demonstrates the faith of the lenders in our execution capabilities and expertise to complete the project in time. The terms of debt financing provides us long tenure of loans supporting our competetive bid price assumptions.
"The 4000 MW Mundra Ultra Mega Power Project (UMPP) is the first of the UMPP which heralds the entry of super critical boiler technology In India for the first time which is significantly environment friendly than the conventional ones using sub-critical boiler technology. The project site, approx 1000 Hectares is located south of Tunda Wand village in Mundra Taluka, Kutch district of Gujarat. The project consists of 5 units, each of 800 MW which will generate saleable power of 3800 MW to be supplied to five states namely Gujarat, Maharashtra, Rajasthan, Haryana and Punjab. The super-critical technology and the choice of unit sizes will help the project achieve higher efficiency thus saving fuel and reducing greenhouse gas emissions vis-à-vis conventional technology prevailing in the country.The Site preparatory works are in progress and orders for all major equipments have been placed. The Company has signed the contract for complete Boiler island scope on EPC basis with Doosan Heavy Industries & Construction Co Ltd., Korea and contract for supply of Steam Turbine Generators with Toshiba Corporation. The project has been comprehensively covered by a seamless Insurance cover by Oriental Insurance Co Lied.