Sobha Developers, a Bangalore-based real estate major is planning to raise Rs 3.50 billion through a right issue. The money raised via the right issue will be used for everyday business transactions. The company will use the proceeds for general corporate purposes, including working capital, acquiring land and other needs.


Neo Corp International at its meeting held on Aug. 26, 2008, decided to set up a separate division as export oriented unit (EOU).


Union Bank of India is likely to sign a MoU with KBC Management Services, a 100% subsidiary of KBC Group, Belgium


Tata Consultancy Services (TCS), a global IT major announced on Tuesday, August 26, that Singapore Airlines Cargo (SIA Cargo) chose the Tata`s to service its cargo revenue accounting back office processes. According to the company the multi million dollar contract would be effective for five years.


BGR Energy Systems, Chennai bagged the single largest contract for supply of Air Fin Coolers in India for Rs 396 million. This contract is for supply of 169 nos of Fin Tube Bundles for the FCCU Unit (Train-II) of Essar Refinery Expansion Project, Vadinar, India being built by Essar Oil.