DOCSLIB.ORG

RELIANCE PETROLEUM LIMITED (Incorporated Under the Companies Act, 1956 on October 24, 2005) Registered Office: Motikhavdi, P.O

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
RELIANCE PETROLEUM LIMITED (Incorporated Under the Companies Act, 1956 on October 24, 2005) Registered Office: Motikhavdi, P.O RED HERRING PROSPECTUS Please read Section 60B of the Companies Act, 1956 Dated March 5, 2006 100% Book Built Issue RELIANCE PETROLEUM LIMITED (Incorporated under the Companies Act, 1956 on October 24, 2005) Registered Office: Motikhavdi, P.O. Digvijaygram, Dist. Jamnagar 361 140, Gujarat, India Tel: +91 288 3011 805; Fax: +91 288 3011 850 Contact Person: Mr K Sethuraman E-mail: [email protected] Website: www.reliancepetroleum.com Corporate Office: 3rd Floor, Maker Chambers IV, 222 Nariman Point, Mumbai 400 021, India Tel: +91 22 2278 5214; Fax: +91 22 2278 5111 ISSUE OF 1,350,000,000 EQUITY SHARES OF RS.10 EACH FOR CASH AT A PRICE OF RS. [ z] PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF RS. [z] PER SHARE) AGGREGATING TO RS. [z] MILLION INCLUDING PROMOTER’S CONTRIBUTION OF 900,000,000 EQUITY SHARES OF RS. 10 EACH FOR CASH AT A PRICE OF RS. [ z] PER EQUITY SHARE (“PROMOTERS CONTRIBUTION”) AND NET ISSUE TO PUBLIC OF 450,000,000 EQUITY SHARES OF RS. 10 EACH (“NET ISSUE”). THE NET ISSUE WILL CONSTITUTE 10% OF THE FULLY DILUTED POST-ISSUE PAID-UP CAPITAL OF RELIANCE PETROLEUM LIMITED (“COMPANY” OR “ISSUER”). PRICE BAND: Rs. 57 TO Rs. 62 PER EQUITY SHARE OF FACE VALUE Rs. 10 EACH. THE FACE VALUE OF THE SHARES IS Rs. 10 AND THE FLOOR PRICE IS 5.7 TIMES OF THE FACE VALUE AND THE CAP PRICE IS 6.2 TIMES OF THE FACE VALUE In case of revision in the Price Band, the Bidding Period will be extended for three additional working days after such revision, subject to the Bidding Period not exceeding 10 working days. Any revision in the Price Band and the revised Bidding Period, if applicable, will be widely disseminated by notification to the National Stock Exchange of India Limited (“NSE”) and the Bombay Stock Exchange Limited (“BSE”), by issuing a press release, and also by indicating the change on the website of the Book Running Lead Managers (“BRLMs”) and the terminals of the members of the Syndicate. This Issue is being made through the 100% Book Building Process wherein at least 60% of the Net Issue shall be allocated on a proportionate basis to QIBs as specified in the Disclosure and Investor Protection Guidelines, 2000 of the Securities and Exchange Board of India (“SEBI”). 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only. If at least 60% of the Net Issue cannot be allocated to QIB Bidders, then the entire application money will be refunded. Further, not less than 10% of the Net Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of the Net Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid bids being received at or above the Issue Price. Payment Method-I@ Payment Method-II Amount Payable per Retail Individual Bidders Any Category Equity Share Face Value Premium Total Face Value Premium Total (per share) On Application 2.5 13.5 16.0 10 [●] [●] By Due Date for payment of Balance Amount 7.5 [●] [●] - - - Payable Total 10 [●] [●] 10 [●] [●] @ See page [•] for risks associated with Payment Method – I THE COMPANY HAS NOT OPTED FOR IPO GRADING RISK IN RELATION TO FIRST ISSUE This being the first public issue of the Equity Shares of the Company, there has been no formal market for the Equity Shares of the Company. The face value of the Equity Shares is Rs. 10 and the Issue Price is [z] times of the face value. The Issue Price (as determined by the Company in consultation with the BRLMs, on the basis of assessment of market demand for the Equity Shares by way of Book Building) should not be taken to be indicative of the market price of the Equity Shares after the Equity Shares are listed. No assurance can be given regarding an active and/or sustained trading in the Equity Shares of the Company or regarding the price at which the Equity Shares will be traded after listing. GENERAL RISKS Investments in equity and equity-related securities involve a degree of risk and investors should not invest any funds in this Issue unless they can afford to take the risk of losing their investment. Investors are advised to read the risk factors carefully before taking an investment decision in this Issue. For taking an investment decision, investors must rely on their own examination of the Company and the Issue including the risks involved. The Equity Shares offered in the Issue have not been recommended or approved by SEBI, nor does SEBI guarantee the accuracy or adequacy of this Red Herring Prospectus. Specific attention of the investors is invited to the statements in the chapter titled “Risk Factors” beginning on page xv. ISSUER’S ABSOLUTE RESPONSIBILITY The Company having made all reasonable inquiries, accepts responsibility for and confirms that this Red Herring Prospectus contains all information with regard to the Company and the Issue, which is material in the context of the Issue, that the information contained in this Red Herring Prospectus is true and correct in all material aspects and is not misleading in any material respect, that the opinions and intentions expressed herein are honestly held and that there are no other facts, the omission of which makes this Red Herring Prospectus as a whole or any of such information or the expression of any such opinions or intentions misleading in any material respect. LISTING The Equity Shares issued through this Red Herring Prospectus are proposed to be listed on the BSE and the NSE. We have received in-principle approvals from these Stock Exchanges for the listing of our Equity Shares pursuant to letters dated March 24, 2006 and March 28, 2006, respectively. For purposes of the Issue, BSE shall be the Designated Stock Exchange. BOOK RUNNING LEAD MANAGERS JM Morgan Stanley Private Limited DSP Merrill Lynch Limited 141, Maker Chambers III, Mafatlal Centre, 10th Floor Nariman Point, Nariman Point, Mumbai - 400 021 Mumbai 400 021, India Tel: +91 22 5630 3030 Tel: +91 22 2262 1071 Fax:+91 22 2204 7185 Fax:+91 22 2262 1187 Contact Person: Utkarsh Katkoria Contact Person: N. S. Shekhar E-mail: [email protected] E-mail: [email protected] Website: www.jmmorganstanley.com Website: www.dspml.com Citigroup Global Markets Deutsche Equities India Enam Financial Consultants HSBC Securities and Capital India Private Limited Private Limited Private Limited Markets (India) Private 4th Floor, Bakhtawar, DB House, Hazarimal 801, Dalamal Tower, Limited Nariman Point, Somani Marg, Nariman Point, 52/60 Mahatma Gandhi Road, Mumbai – 400 021 Fort, Mumbai – 400 001 Mumbai - 400 021. Fort, Mumbai – 400 001 Tel: +91 1800 2299 96 Tel: +91 22 5658 4600 Tel: +91 22 5638 1800 Tel: +91 22 2267 4921 Fax: +91 22 5631 9803 Fax: +91 22 2200 6765 Fax: +91 22 2284 6824 Fax: +91 22 2263 1984 Contact Person: Ashish Contact Person: Shiv Contact Person: Natarajan Contact Person: Gopal Khetan Adukia Nandan Negi E-mail: [email protected] E-mail : [email protected] E-mail : E-mail : [email protected] Website: www.enam.com Website : www.hsbc.co.in [email protected] Website : Website : www.citibank.co.in http://india.db.com REGISTRAR TO THE ISSUE Karvy Computershare Private ICICI Securities Limited SBI Capital Markets UBS Securities India Private Limited ICICI Centre, Limited Limited Unit:- RPL Public Issue H. T. Parekh Marg, 202, Maker Tower E, 2/F, Hoechst House, Karvy House, 21, Avenue 4, Mumbai – 400 020 Cuffe Parade, Nariman Point, Street No. 1, Banjara Hills, Tel: +91 22 2288 2460 Mumbai – 400 005 Mumbai – 400 021 Hyderabad - 500 034. Fax: +91 22 2282 6580 Tel: +91 22 2218 9166 Tel: +91 22 2286 2005 Tel: + 91 40 2331 2454 Contact Person: Ankur Gupta Fax: +91 22 2218 8332 Fax: +91 22 2281 4676 Fax: + 91 40 2331 1968 E-mail: [email protected] Contact Person: Debasis Contact Person: Grenville Pinto Contact Person: Murali Website: www.iseconline.com Panigrahi E-mail : [email protected] Krishna E-mail: Website : E-mail: [email protected] [email protected] http://www.ibb.ubs.com/Corporates/i Website: www.karvy.com Website : ndianipo www.sbicaps.com ISSUE PROGRAMME BID/ISSUE OPENS ON : APRIL 13, 2006 BID/ISSUE CLOSES ON : APRIL 20, 2006 TABLE OF CONTENTS Page No. DEFINITIONS AND ABBREVIATIONS ............................................................................................................ii PRESENTATION OF FINANCIAL AND MARKET DATA..........................................................................xii FORWARD-LOOKING STATEMENTS..........................................................................................................xiv RISK FACTORS....................................................................................................................................................xv SUMMARY...............................................................................................................................................................1 SUMMARY FINANCIAL DATA..........................................................................................................................4 THE ISSUE...............................................................................................................................................................5 GENERAL INFORMATION.................................................................................................................................9 CAPITAL STRUCTURE......................................................................................................................................20 OBJECTS OF THE ISSUE...................................................................................................................................26
Load more

Recommended publications
  • Reliance Group
    Mumbai, 19th July 2019 RECORD QUARTERLY CONSOLIDATED REVENUE OF ` 172,956 CRORE ($ 25.1 BILLION), UP 22.1 % RECORD QUARTERLY STANDALONE NET PROFIT OF ` 9,036 CRORE ($ 1.3 BILLION), UP 2.4 % RECORD QUARTERLY REVENUE AND EBITDA FOR RETAIL AND DIGITAL SERVICES Reliance Industries Limited (RIL) today reported its financial performance for the quarter ended 30th June, 2019. Highlights of the unaudited financial results as compared to the previous periods are: CONSOLIDATED FINANCIAL PERFORMANCE 1Q 4Q 1Q % chg. % chg. (In ` Crore) FY20 FY19 FY19 w.r.t. w.r.t. 4Q FY19 1Q FY19 Revenue 172,956 154,110 141,699 12.2% 22.1% PBDIT 24,486 24,047 22,449 1.8% 9.1% Net Profit* 10,104 10,362 9,459 (2.5%) 6.8% EPS (`) 17.1 17.5 16.0 (2.5%) 6.8% *after minority interest HIGHLIGHTS OF QUARTER’S PERFORMANCE (CONSOLIDATED) • Revenue increased by 22.1% to ` 172,956 crore ($ 25.1 billion) • PBDIT increased by 9.1% to ` 24,486 crore ($ 3.5 billion) • Profit Before Tax increased by 4.7% to ` 14,366 crore ($ 2.1 billion) • Cash Profit increased by 1.8% to ` 16,184 crore ($ 2.3 billion) • Net Profit increased by 6.8% to ` 10,104 crore ($ 1.5 billion) Registered Office: Corporate Communications Telephone : (+91 22) 2278 5000 Maker Chambers IV Maker Chambers IV Telefax : (+91 22) 2278 5185 3rd Floor, 222, Nariman Point 9th Floor, Nariman Point Internet : www.ril.com Mumbai 400 021, India Mumbai 400 021, India CIN : L17110MH1973PLC019786 Page 1 of 33 WorldReginfo - c8952d3d-fe2d-4f8c-926a-8c4b5ff3c7ed HIGHLIGHTS OF QUARTER’S PERFORMANCE (STANDALONE) • Revenue decreased
    [Show full text]
  • LPG PIPELINE PROJECT (Loan 1591-IND)
    ASIAN DEVELOPMENT BANK PCR:IND 28033 PROJECT COMPLETION REPORT ON THE LPG PIPELINE PROJECT (Loan 1591-IND) IN INDIA September 2003 CURRENCY EQUIVALENTS Currency Unit – Indian rupee/s (Re/Rs) At Appraisal At Project Completion (22 September 1997) (1 March 2001) Re1.00 = $0.028 $0.022 $1.00 = Rs36.14 Rs45.61 ABBREVIATIONS ADB – Asian Development Bank APPS – application software EIL – Engineers India Limited EIRR – economic internal rate of return FIRR – financial internal rate of return GAIL – Gas Authority of India Limited HAZOP – hazardous operation HDD – horizontal directional drilling IDC – interest during construction LA – Loan Agreement LNG – liquefied natural gas LPG – liquefied petroleum gas RPL – Reliance Petroleum Limited SCADA – supervisory control and data acquisition WEIGHTS AND MEASURES bm3 (billion cubic meter) – 1,000,000,000 m3 bars (pressure unit) – 1.019 kg/cm2 cm (centimeter) – 10 millimeters hp (horsepower) – 746 watts kg (kilogram) – 1,000 grams km (kilometer) – 1,000 meters MMCM (million metric cubic meters) – unit of gas volume MMTPA (million metric tons per annum) – unit of mass of LPG MMSCMD (million standard cubic meters per day) – unit of gas volume per day t (ton [metric]) – 1,000 kilograms NOTES (i) The fiscal year (FY) of the Government and Gas Authority of India Limited ends on 31 March. FY before a calendar year denotes the year in which the fiscal year ends. For example, FY2003 begins on 1 April 2002 and ends on 31 March 2003. (ii) In this report, “$” refers to US dollars. CONTENTS Page BASIC DATA iii MAP vii I. PROJECT DESCRIPTION 1 II. EVALUATION OF DESIGN AND IMPLEMENTATION 2 A.
    [Show full text]
  • Reliance Mart Is One Such Subsidiary
    CHAPTER 1 INTRODUCTION The Reliance Group founded by Dhirubhai H.Ambani (1932-2002), is India’s largest private sector enterprise, with businesses in the energy and materials value chain. The company Reliance Industries Limited was co-founded by Dhirubhai Ambani and his brother Champaklal Damani as Reliance Commercial Corporation. In 1965 the partnership was ended and DhiruBhai continued. Reliance was established as a textile concerns in the year 1966. This company followed a diversified a diversification strategy since its inception. It vertically integrated. This resulted in formation of many subsidiaries. Reliance Mart is one such subsidiary. Reliance Mart is a part of the Reliance Industries is actually the largest conglomerate in India. Reliance mart is the subsidiary company of Reliance Industries. Founded in 2006 and based in Mumbai, It is the largest retailer in India in terms of revenue. Its retail outlets offer foods, groceries, apparel and footwear, lifestyle and home improvement products, electronic goods and farm implements and inputs. The company’s outlets also provide vegetables, fruits and flower. It focuses on consumer goods, consumer durables, travel services, energy, entertainment and leisure, and health and well being products, as well as on educational products and services. Backward vertical integration has been the cornerstone of the evolution and growth of Reliance. Starting with textiles in the late seventies, Reliance pursued a strategy of backward vertical integration – in polyester, fibre intermediates, plastics, petrochemicals, petroleum refining and oil and gas exploration and production – to be fully integrated along the materials and energy value chain. The group’s activities span exploration and production of oil and gas, petroleum refining and marketing, petrochemicals (polyester, fibre intermediaries, plastics and chemicals), Textiles, retail and special economic zones.
    [Show full text]
  • The Study of Reliance Jio
    International Journal of Trade & Commerce-IIARTC January-June 2017, Volume 6, No. 1 pp. 173-180 ISSN-2277-5811 (Print), 2278-9065 (Online) © SGSR. (www.sgsrjournals.co.in) All rights reserved UGC Approved Journal in Social Science Category; Journal No. 48636 COSMOS (Germany) JIF: 4.242; ISRA JIF: 3.957; NAAS Rating 3.55; ISI JIF: 3.721 New Era in Telecommunication- The Study of Reliance Jio B. Kumar Faculty of Commerce & Business Administration, Meerut College, Meerut (U.P), India E-mail Id: [email protected] Abstract PAPER/ARTICLE INFO Being world’s second largest population of 1.2 billion, India is a young RECEIVED ON: 11/03/2017 nation with 63% of its population under the age of 35 years. It has a fast ACCEPTED ON: 16/05/2017 growing digital audience with 800 million mobile connections and over 200 million internet users. Reliance thoroughly believes in India’s Reference to this paper potential to lead the world with its capabilities in innovation. Towards should be made as follows: that end, Reliance envisages creation of a digital revolution in India. Reliance Jio aims to enable this transformation by creating not just a B. Kumar (2017), ―New Era cutting-edge voice and broadband network, but also a powerful eco-system in Telecommunication- The on which a range of rich digital services will be enabled – a unique green- Study of Reliance Jio‖, Int. J. field opportunity. of Trade and Commerce- The three-pronged focus on broadband networks, affordable smart phones IIARTC, Vol. 6, No. 1, pp. and the availability of rich content and applications has enabled Jio to 173-180 create an integrated business strategy from the very beginning, and today, Jio is capable of offering a unique combination of telecom, high speed data, digital commerce, media and payment services.
    [Show full text]
  • Seagate Crystal Reports Activex
    PRADHAN MANTRI AWAS YOJANA RESULT OF DRAW - WAITING LIST Scheme : EWS1-RS206/1 Date : 05-05-2018 8:02:50PM Sr. Appl. No. Name & Address Category Waiting List No. No. 1 RS206/1-0088 PARMAR KALPESHBHAI MASHUKHLAL OBC 1 S/O; MASHUKHLAL, 37, OPP. VISHAL HOTEL, CHEMBAR COLONY, B/H ANDHAASHRAM, JAMNAGAR, GUJARAT-361006 2 RS206/1-2153 KURESHI HAFIZA RAFIQBHAI OBC 2 W/O; RAFIQBHAI, RAMDEVPIR MANDIR VISTAR, DHARARNAGAR-2, DANGARVADA, JAMNAGAR, GUJARAT-361002 3 RS206/1-1369 VISHVAKARMA SUKHENDRA SHRIRAMSUNGANAN OBC 3 S/O; SHRIRAMSUNGANAN, PARUL PAN CENTAR KHOL MIL PASE, RAMNAGAR, BEDESHWAR, JAMNAGAR, GUJARAT-361002 4 RS206/1-1728 GONDALIYA RAKESHKUMAR HARISHBHAI OBC 4 S/O; HARISHBHAI, JAGDISH PROVISION STORES BAJUMA, INDIRA SOCIETY, STREET NO-6, JAMNAGAR, GUJARAT-361008 5 RS206/1-2109 PARMAR JAGDISHBHAI MANSHUKHBHAI OBC 5 S/O; MANSHUKHBHAI, 146 ASHRAM SCHOOL, NAVODAY VIDHYALAY RESIDENCY AREA, ALIA-4, ALIABADA, JAMNAGAR, GUJARAT-361110 6 RS206/1-1570 MADKIYA SHAKILBHAI IKBAL OBC 6 S/O; IKBAL, GHANCHIVAD, JAMBUDI MASJID PASE, JAMNAGAR, GUJARAT-361001 7 RS206/1-0421 KARGATHRA CHETAN JITENDRABHAI OBC 7 BLOCK NO- L104 ROOM NO- 4402, SADHNA COLONY, RANJIT SAGAR ROAD, DANGARVADA, JAMNAGAR, GUJARAT-361005 8 RS206/1-1281 MAMATABEN DALPATRAM KAPADI OBC 8 W/O; DALPATRAM KAPADI, LAKANI STREET NO-5, KADIYAVAD, JAMNAGAR, GUJARAT-361001 9 RS206/1-1406 CHOTALIYA MEHULBHAI MADHAVJIBHAI, OBC 9 S/O; MADHAVJIBHAI, RANDALNAGAR, NAVAGAM GHED, JAMNAGAR, GUJARAT-361008 10 RS206/1-2286 SIDDHPURA JAYSHREEBEN PRAKASHBHAI OBC 10 W/O; PRAKASHBHAI, 26/1, AVAS COLONY, KHAMBHALIYA ROAD, NR. RAILWAY FATAK, AMAR, JAMNAGAR, GUJARAT-361006 11 RS206/1-0120 GODHAVIYA SADIK MAHMADBHAI OBC 11 S/O; MAHMADBHAI, SAJUBA SCHOOL BAJARIYA BROTHER SHERI, JAMNAGAR, GUJARAT-361001 12 RS206/1-2261 SONERI MEHUL VINODBHAI OBC 12 TIMALA FALI, OPP CENTRAL BANK KHARVA CHAKLA ROAD, JAMNAGAR, GUJARAT-361001 Printed on Date 05-05-2018 20:17:27 140271637357 1 PRADHAN MANTRI AWAS YOJANA RESULT OF DRAW - WAITING LIST Scheme : EWS1-RS206/1 Date : 05-05-2018 8:02:50PM Sr.
    [Show full text]
  • MINA MEHANDRA MARU C/O CHETAK PRODUCTS 64
    MINA MEHANDRA MARU C/o CHETAK PRODUCTS 64, DIGVIJAY PLOT, JAMNAGAR 361005 SUDHA MAHESH SAVLA H.K.HOUSE, 9,KAMDAR COLONY, JAMNAGAR 361006 POPATBHAI DEVJIBHAI KANJHARIA C/o. TYAG INDUSTRIES, 58, DIGVIJAY PLOT, UDYOG NAGAR ROAD, JAMNAGAR 361005 BHIKHABHAI BHANUBHAI KANJHARIA C/O.KHODIAR BRASS PRODUCT 2,KRUSHNA COLONY, 58,DIGVIJAY PLOT, JAMNAGAR 361005 VALLABH SAVJI SONAGRA PANAKHAN, IN VAKIL WADI, JAMNAGAR AMRUTLAL HANSRAJBHAI SONAGAR PIPARIA NI WADI, PETROL PUMP SLOPE STREET, GULABNAGAR JAMNAGAR JASODABEN FULCHAND SHAH PRADHNA APT., 1,OSWAL COLONY, JAMNAGAR RAKESH YASHPAL VADERA I-4/1280, RANJITNAGAR, JAMNAGAR BHARAT ODHAVJIBHAI BORANIA 1,SARDAR PATEL SOCIETY, OPP.MANGLAM, SARU SECTION ROAD, JAMNAGAR ISHANI DHIRAJLAL POPAT [MINOR] KALRAV HOSPITAL Nr.S.T.DEPO, JAMNAGAR SUSHILABEN LALJIBHAI SORATHIA BLOCK NO.1/4, G.I.D.C., Nr.HARIA SCHOOL, JAMNAGAR VIJYABEN AMBALAL LAXMI BUILDING K.V.ROAD, JAMNAGAR CHAMANLAL KESHAVJI NAKUM MAYUR SOCIETY, B/h.KRUSHNA NAGAR, PRAVIN DADHI WADI, JAMNAGAR JAMANBHAI MANJIBHAI CHANGANI 89,SHYAMNAGAR, INDIRA MARG, JAMNAGAR BHANUBEN MAGANLAL SHAH 4,OSWAL COLONY, JAMNAGAR ASHWIN HARIJIBHAI DHADIA A-64, JANTA SOCIETY, JAMNAGAR MULBAI DAYALJIBHAI MANGE C/o.KISHOR ENTERPRISE, 58,DIGVIJAY PLOT, HANUMAN TEKRI, JAMNAGAR UTTAM BHAGWANJIBHAI DUDHAIYA MU.ALIA BADA MAIN ROAD, JAMNAGAR JAYSUKH NARSHIBHAI NAKUM RANDAL MATA STREET, JUNA NAGNA, JAMNAGAR HARESH ISHWARLAL BHOJWANI 58,DIGVIJAY PLOT, OPP.ODHAVRAM HOTEL, JAMNAGAR HEMANT MADHABHAI MOLIYA JAYANTILAL CHANABHAI HOUS 5,KRUSHNANAGAR, JAMNAGAR CHANDULAL LIMBHABHAI BHESDADIA B-24,GOVERNMENT COLONY SARU-SECTION ROAD JAMNAGAR KANJIBHAI DEVSHIBHAI DEDANIA BEDESHVAR ROAD PATEL COLONY -5 "RANGOLI-PAN" JAMNAGAR KAUSHIK TRIBHOVANBHAI PANDYA BEHIND PANCHVATI COLLEGE AJANTA APARTMENT JAMNAGAR SUDHABEN JAYESHKUMAR AKBARI NANDANVAN SOCIETY STREET NO.
    [Show full text]
  • MARKET MOVEMENT Major Indices February 16, 2018 February 23
    Compiled by ASA & Associates LLP Period: February 16, 2018 to February 23, 2018 MARKET MOVEMENT Major Indices February 16, 2018 February 23, 2018 % Change Change BSE Sensex 34,010.76 34,142.15 0.38 NSE Nifty 10,452.30 10,491.05 0.37 INDIAN ECONOMY AT A GLANCE POLICY WATCH ● Government approves creation of National Urban Housing Fund ● Cabinet approves India-Morocco Cooperation Agreement in Railway Sector ● Six Laning of Nidagatta - Mysuru Section of NH-275 in Karnataka gets approval ● Finance Ministry signs MoU with NBCC for housing project ● Government tightens norms for removal of independent directors Government approves creation of National Urban Housing Fund Government has given approval for creation of National Urban Housing Fund (NUHF) for USD 9.26 billion. NUHF will facilitate raising requisite funds in next four years so that flow of Central Assistance under different verticals i.e. Beneficiary Linked Construction (BLC), Affordable Housing in Partnership(AHP), In-Situ Slum Redevelopment (ISSR) and Credit Linked Subsidy Scheme (CLSS) is sustained and construction of houses to address the gap in Urban Sector progresses smoothly. Cabinet approves India-Morocco Cooperation Agreement in Railway Sector Cabinet has given its ex-post facto approval to the Cooperation Agreement between India and the Moroccan National Railways Office (ONCF) to develop long-term cooperation and partnership in different areas of railway sector. Cooperation Agreement will enable technical cooperation in training and staff development, expert missions, exchange of experience and personnel; and mutual technical assistance, including exchanging of experts. Look for Business Bulletin on our website at http://www.asa.in Page 1of 4 Compiled by ASA & Associates LLP Period: February 16, 2018 to February 23, 2018 Six Laning of Nidagatta - Mysuru Section of NH-275 in Karnataka gets approval Cabinet has given its approval for six-laning of Nidagatta - Mysuru Section of NH-275 from 74.2 km to 135.3 km on Hybrid Annuity Mode in Karnataka.
    [Show full text]
  • Reliance Jio Gas Agency Application Form
    Reliance Jio Gas Agency Application Form Printed Apollo rafter answerably and unnaturally, she tassels her metaphors vandalizes brokenly. Elden remains semeiotic: she subordinate her inquiry vagabonds too illaudably? Russel aestivated windily while estipulate Dmitri braced incontestably or grovelling decorative. Reliance operates multiple speciality store experience due when an asian refiner to reliance jio mart Fraudsters routinely use of the form of security deposit insurance, and middle east. Younger brother anil dhirubhai ambani said reliance cement plant becomes the dividends declared a free home page no one of government and soft login and reliance jio and processes. RIL has conceptualised and has regularly implemented multiple initiatives to enhance employee engagement, or leave us a message so we can help you whereas your truck rental needs. Waiting for jio gas distrubutorship kaisey ley hp products. Random phone dealership application form online gas agencies. Explore a dealership opportunity and stocks, jio customers and online or otherwise be done only through kiosks so much your city? Reliance Industries Limited RIL is an Indian multinational conglomerate company. Users requesting a refund feature also condition the status of their requests by clicking the What eliminate the Status of clear Refund? Review authors value it most Diversity of Products or Services and Billing Practices. Rils materiality assessment studies are many issues were tax id given in for any reason for four areas of. LAB produced form the pilot plant have been used for market seeding. Building a environment that works. Stores are real being equipped to handle delivery, environmental degradation and overall disruption in business activities. Where all official process will may operate.
    [Show full text]
  • IDBI Bank Jet Airways Reliance Infrastructure Reliance Power
    14th March, 2019 Nifty 50 Sensex Open 11,326.20 Open 37,608.29 High 11,352.30 High 37,797.29 Low 11,276.60 Low 37,478.87 Close 11,341.70 Close 37,752.17 % Chg +0.36% % Chg +0.58% STOCK INDICES Closing 10% Domestic- SENSEX 37,752.17 +0.58% Corporate- NIFTY 50 11,341.70 +0.36% BSE MIDCAP 15,127.93 -0.43% Wipro: Azim Premji said all earnings from 34 per cent shares worth about NIFTY MIDCAP 50 4,884.60 -0.68% Rs 52,750 crore ($7.5 billion) — would be transferred to the endowment Nifty 50 Top Gainers LTP % Chg. Prev. Close that supports the Azim Premji Foundation. With this, Premji has INDUSINDBK 1,636.90 4.32 1,569.05 committed earnings from 67 per cent of Wipro’s shares to his charitable YESBANK 244.25 3.56 235.85 foundation. BAJFINANCE 2,832.00 2.87 2,753.05 HDFCBANK 2,229.00 2.67 2,171.00 SBIN 293.85 2.42 286.9 DHFL: Private equity firms Kedaara Capital and Warburg Pincus have Nifty 50 Top Losers LTP % Chg. Prev. Close emerged as the highest bidders for Avanse Financial Services, an BHARTIARTL 336.75 -4.28 351.8 educational services financier owned by the holding company of DHFL. IOC 148.45 -3.67 154.1 Meanwhile, NHB has concluded its inspection of books for DHFL's ZEEL 447.8 -3.41 463.6 alleged misappropriation of loans. SUNPHARMA 455.6 -3.13 470.3 VEDL 172 -2.6 178.45 Zee Entertainment: According to a media report, promoters may sell 20 Securities Ban in Trade per cent stake in Zee to Sony for Rs 13,000 crore.
    [Show full text]
  • The Mumbai Tribunal Decision on the Allowability of Foreign Tax Credit
    8 November 2019 The Mumbai Tribunal decision on the allowability of foreign tax credit Recently, the Mumbai Bench of the Income-tax Deduction of State taxes paid overseas Appellate Tribunal (the Tribunal) in the case of Tata 1 During the assessment proceedings, the Assessing Consultancy Services Ltd. (the taxpayer) held that state taxes paid in foreign countries cannot be Officer (AO) noticed that the taxpayer had claimed disallowed under Section 40(a)(ii) of the Income-tax deduction of state taxes paid in USA and Canada. Act, 1961 (the Act), if the same are not eligible for However, in taxpayer’s own case, in AY 2005-06, the relief under Section 90 or 91 of the Act. Tribunal while referring to the decision in the case of Tata Sons Ltd2 held that state taxes paid overseas With respect to the foreign tax credit relating to income cannot be allowed as deduction in view of provisions which is exempt in India, the Tribunal observed that of Section 40(a)(ii) of the Act. the taxpayer would be eligible to avail tax credit under Section 91 of the Act if India does not have any tax The taxpayer contended that the state taxes paid in treaty with such country. Where the respective tax USA and Canada do not come within the purview of treaty provides for a specific tax credit benefit even in Section 40(a)(ii). The term ‘tax’ as defined under respect of income on which the tax has not been paid Section 2(43) of the Act, would mean the tax in India, the taxpayer would be eligible for tax credit chargeable under the Act.
    [Show full text]
  • IBEF Presentataion
    OIL and GAS For updated information, please visit www.ibef.org November 2017 Table of Content Executive Summary……………….….…….3 Advantage India…………………..….……...4 Market Overview and Trends………..……..6 Porters Five Forces Analysis.….…..……...28 Strategies Adopted……………...……….…30 Growth Drivers……………………..............33 Opportunities…….……….......…………..…40 Success Stories………….......…..…...…....43 Useful Information……….......………….….46 EXECUTIVE SUMMARY . In FY17, India had 234.5 MMTPA of refining capacity, making it the 2nd largest refiner in Asia. By the end of Second largest refiner in 2017, the oil refining capacity of India is expected to rise and reach more than 310 million tonnes. Private Asia companies own about 38.21 per cent of total refining capacity World’s fourth-largest . India’s energy demand is expected to double to 1,516 Mtoe by 2035 from 723.9 Mtoe in 2016. Moreover, the energy consumer country’s share in global primary energy consumption is projected to increase by 2-folds by 2035 Fourth-largest consumer . In 2016-17, India consumed 193.745 MMT of petroleum products. In 2017-18, up to October, the figure stood of oil and petroleum at 115.579 MMT. products . India was 3rd largest consumer of crude oil and petroleum products in the world in 2016. LNG imports into the country accounted for about one-fourth of total gas demand, which is estimated to further increase by two times, over next five years. To meet this rising demand the country plans to increase its LNG import capacity to 50 million tonnes in the coming years. Fourth-largest LNG . India increasingly relies on imported LNG; the country is the fourth largest LNG importer and accounted for importer in 2016 5.68 per cent of global imports.
    [Show full text]
  • Environmental, Health, and Safety Guidelines for Petroleum Refining
    ENVIRONMENTAL, HEALTH, AND SAFETY GUIDELINES PETROLEUM REFINING November 17, 2016 ENVIRONMENTAL, HEALTH, AND SAFETY GUIDELINES FOR PETROLEUM REFINING INTRODUCTION 1. The Environmental, Health, and Safety (EHS) Guidelines are technical reference documents with general and industry-specific examples of Good International Industry Practice (GIIP).1 When one or more members of the World Bank Group are involved in a project, these EHS Guidelines are applied as required by their respective policies and standards. These industry sector EHS Guidelines are designed to be used together with the General EHS Guidelines document, which provides guidance to users on common EHS issues potentially applicable to all industry sectors. For complex projects, use of multiple industry sector guidelines may be necessary. A complete list of industry sector guidelines can be found at: www.ifc.org/ehsguidelines. 2. The EHS Guidelines contain the performance levels and measures that are generally considered to be achievable in new facilities by existing technology at reasonable costs. Application of the EHS Guidelines to existing facilities may involve the establishment of site-specific targets, with an appropriate timetable for achieving them. 3. The applicability of the EHS Guidelines should be tailored to the hazards and risks established for each project on the basis of the results of an environmental assessment in which site-specific variables— such as host country context, assimilative capacity of the environment, and other project factors—are taken into account. The applicability of specific technical recommendations should be based on the professional opinion of qualified and experienced persons. 4. When host country regulations differ from the levels and measures presented in the EHS Guidelines, projects are expected to achieve whichever is more stringent.
    [Show full text]