--BGR Energy awarded Turnkey Balance of Plant (BOP) contract of Rs 793 Crores
--Mahindra & Mahindra Financial - Allotment of equity shares
Bharat Forge to raise Rs 300 Crores through a Preferential offer to the Promoters
Bharat Forge Ltd has informed that the Board of Directors of the Company at its meeting held on February 27, 2008 approved a Preferential Issue of Convertible Warrants subject to requisite approval by the Shareholders and the applicable guidelines to the Promoters Group.
Pricing of the issue will be governed by the Guidelines for Preferential Issue in terms of the applicable SEBI Guidelines.
The Company will raise Rs 300 crores through the issue of these convertible warrants. The proceeds will form a part of the corpus that will serve a two-fold purpose of funding the Company's ongoing organic growth programme in the capital goods and non auto space as well as enhancing the Promoters stake in the Company.
BGR Energy awarded Turnkey Balance of Plant (BOP) contract of Rs 793 Crores
BGR Energy Systems Ltd has informed that the Company has received a Letter of Intent from Andhra Pradesh Power Generation Corporation Ltd (APGENCO) whereby APGENCO has awarded a contract for Rs 7930 Million for Design, Engineering, Manufacture, Procurement, Supply, delivery, testing at manufacturer's works, transportation to the site, storage, construction, erection, testing at site and commissioning of Balance of Plant including Civil works for the 500 MW Kothagudem StageVI (1 x 500 MW) Unit XI.
In this connection, the Company has issued the following Press release:
"BGR Energy Systems Ltd has secured a Turnkey contract from Andhra Pradesh Power Generation Ltd (APGENCO) for the execution of Balance of Plant (BOP) for the 1 x 500 MW, Stage VI Unit XI Kothagudem Thermal Power Station valued at Rs 793 Crores. The contract scope of work includes Design, Engineering, Procurement and Construction of complete Mechanical, Electrical, Instrumentation and Plant Civil works for project. This contract will be executed over a period of 26 months.
BGR Energy has emerged as the largest EPC contractor of Power Plant Balance of Plant in the Country for large Power Plants of 500 MW and above. The Company is currently executing three Balance of Plant contracts for 500 MW capacity coal based power projects and this contract is the Fourth contract. The current order book of the Company stands at Rs 3715 Crores."
Mahindra & Mahindra Financial - Allotment of equity shares
Mahindra & Mahindra Financial Services Ltd has informed that the Committee of Directors at its Meeting held on February 27, 2008 has allotted 1,09,00,000 (One Crore Nine Lakhs) fully paid-up Equity Shares of Rs 10 each at a price of Rs 380/- (Rupees Three Hundred and Eighty) per Equity Share aggregating to Rs 414,20,00,000 (Rupees Four Hundred and Fourteen Crores Twenty Lakhs) on a Preferential Allotment Basis to TPG-Axon (Mauritius) II Ltd and Standard Chartered Private Equity (Mauritius) Ltd.
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