· Areva T&D okays demerger to unit
· Tata Power wins Rs. 1,000 cr. IAF order
· IPO guidelines for life insurers this month
Areva T&D okays demerger to unit
Areva T&D India Ltd on Monday said its board has approved the demerger of its distribution business to its fully owned unit, Smartgrid Automation Distribution and Switchgear Ltd.
Shareholders of Areva T&D India will get one share of Smartgrid Automation Distribution and Switchgear for every share held in Areva, it said in a statement.
Tata Power wins Rs. 1,000 cr. IAF order
Tata Power Co. Ltd won a contract worth more than `1,000 crore from the Indian Air Force (IAF)for modernization of 30 airfields.
People familiar with the matter said the contract will be implemented in two phases over a period of around four years. One of the people said the order would probably be the largest defence contract awarded through a global tender process.
IPO guidelines for life insurers this month
The Insurance Regulatory New Delhi: The Insurance Regulatory and Development Authority (Irda) on Monday said guidelines to allow life insurance companies to raise funds from the capital market will be out by the end of the month.
“They (life insurers companies) will be completing 10 years (in business) later this year. Our IPO (initial public offering) guidelines must be in place before that...by the end of this month,“ Irda chairman J. Hari Narayan said on the sidelines of the Federation of Indian Chambers of Commerce and Industry national conference on insurance.
Discussions for allowing listing of insurance companies on the bourses have been on between the Securities and Exchange Board of India (Sebi) and Irda for nearly three years now. Under current Sebi law, companies can be listed on the bourses after they complete 10 years of operations.