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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Senor VS who wrote (3620)	1/31/1999 11:20:00 AM
From: Mohan Marette	Respond to of 12475

Anyone owns DSQ Software? If so good news. Ravi: You have any DSQ? If so I came across this,interesting. ========================== Chase Venture Fund to pick up 26 per cent stake in DSQ Software for Rs 2.11 billion Pradipta Bagchi in Mumbai The Indo-Ocean Chase Venture Fund is picking up a 26 per cent stake in the Dalmia-promoted DSQ Software at a price of approximately Rs 320 a share through a preferential allotment. The total value of the deal, which is likely to be signed imminently, works out to approximately Rs 211 crore (Rs 2.11 billion) for 66 lakh (6.6 million) shares. In its EGM in January, DSQ Software Ltd said it was planning to raise Rs 150-crore before the end of March through the preferential allotment of 85 lakh shares of Rs 10 each at a premium of not less than Rs 248. The six-monthly average price for DSQ software is approximately Rs 282. The company got the approval of shareholders at an EGM in on 5 January to issue the shares at premium to FIIs, NRIs, OCBs, pension funds, private equity funds and mutual funds subject to the approval of SEBI, the Reserve Bank of India and the government. When contacted by Business Standard about the imminent placement, KM Venkateswaran, company secretary of DSQ Software said: “100 per cent I am not aware of it. We are not close to making any allotment to any investor. The EGM resolution for the preferential allotment is valid for three months till April 4.” Anil Ahuja of Indo-Ocean Venture Partners also refused to comment. “I actually cannot comment on the deal,” he maintained. According to sources, the deal for the preferential allotment will be signed soon. However, the preferential allotment is only the first step of a complex structured deal, said sources. The deal has been structured by SMIFS Securities Ltd. As the second step, the entire holding of the Dalmias will be consolidated and transferred into a special purpose vehicle. In this SPV, the Indo-Ocean Chase Venture Fund will take up a majority or 51 per cent stake. This would mean that the promoters would cease to be the controlling shareholders in DSQ Software. According to market analysts, this two-step structure of the deal will allow the promoter the chance to sell his shares at a higher price. “All software promoters saw the rise in valuation of BFL Software once the Bangurs exited the company. This structured deal will ensure that the promoter will get some of the upside from the relating of the stock.” DSQ Software made a profit of Rs 24.44 crore in 1997-98 compared to Rs 14.94 last year. business-standard.com

To: Senor VS who wrote (3620)	1/31/1999 9:39:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Product patents-A bittersweet pill Ravi: Implications (for domestic and multinationals) of the impending implementation of Product Patents for Pharmaceuticals and Agricultural products. A must know for people interested in investing in this segment even though the bill when passed wont be effective until 2005 I believe.The law is to comply with WTO stipulations and India being a signatory has to implement the bill to comply with the agreement. ============================ Indian pharma companies must look at the opportunities ahead rather than worry about the impending threats Will it prove to be the right prescription? That is the question uppermost on the minds of everyone in the Indian pharmaceutical industry as India moved one step closer last week to putting in place product patents for pharma and agrichemical products in line with the Trade Related Intellectual Property Rights (TRIPS) provisions of the World Trade Organisation (WTO) agreement. With the Union Cabinet promulgating an ordinance to amend the Indian Patents Act of 1970, the whole issue of patents has come to the fore once again with a bang......... cmots.com