Larsen & Toubro Infotech (L&TI), the 100 per cent Larsen & Toubro-owned company, is expected to enter the capital market with its IPO in the first half of 2008. The company announced a Rs 600-crore expansion plan that includes the construction of six new software development and technology centres across the country. The company is also building an IT campus in Pune in the next 12-18 months to house 2,500 staffers and will focus on the banking, financial services and insurance, manufacturing and communications industry.

Gulshan Sugars & Chemicals files for FPO: Gulshan Sugars & Chemicals Ltd, has filed its draft prospectus with the Securities and Exchange Board of India (Sebi) to enter the capital market with a fixed price follow-on public offer (FPO) of 66 lakh shares at Rs 8 each. The proceeds from the FPO is expected to be used in the setting up a 20,000 tonnes per annum calcium carbonate facility and a 3MW captive power plant in Muzaffarnagar.


Abhishek Mills files for IPO: Kolhapur-based Abhishek Mills, has filed its draft red herring prospectus (DRHP), for its initial public offer (IPO) with SEBI.

The company intends to offer 41 lakh equity shares of Rs 10 each for cash at a price to be discovered through the book-building route.

The company plans to set up an integrated yarn dyed shirting fabric facility in addition to increasing their spinning capacity.

Mumbai International Airport Private Limited (MIAL) on Wednesday announced that it will invest Rs 7,000 crores, spread over a period of 20 years, for the development of the airport, to build facilities including a third runway and a terminal for low-fare airlines.

The JV between GVK Power and Infrastructure Limited, Airports Company South Africa Limited and the Airports Authority of India targets to spend Rs 5,800 crores in the next seven years for the modernisation of the airport.

"The investment will cover three phases of development, where the airport will upgrade cargo facilities and passenger and aircraft amenities in the first phase, in the second phase it will carry out upgradation programme and implementation of the master plan in the third phase," said Mr G.V. Sanjay Reddy, managing director, MIAL.

GVK Power & Infrastructure Limited, Airports Company South Africa Limited and other partners own 74 per cent of the Mumbai airport and the government’s Airports Authority of India holds the remaining 26 per cent.

MIAL will complete its long-term master plan by September 2006 and has appointed Netherland Airports consultants to lead the process and Singapore’s Changi Airport to review it.

"The company has tied up Rs 5,000 crores of long-term debt maturing in more than 15 years with lenders and has furnished bank guarantees to the government for more than Rs 200 crores toward equity capital," said

Mr Reddy, who declined to give more details.