ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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New Winds

New Winds WITH the sighting of one swallow, summer is taken to be here for the proposed Over-Thc-Counter (OTC) market for new companies not to be coming to the capital market directly with public issues of share capital and not to be seeking listing on the stock exchanges but instead on the OTC market. The swallow in question is the capital issue of Co-Nick Alloys (India), which is among the companies seeking listing on the OTC market, and which is the first of such companies in respect of which the CCI has issued the sanction. In terms of the CO's sanction, equity shares of the company are to be offered on the OTC market to the public at a premium of Rs 6 per share of Rs 10 face value and with that Co-Nick Alloys will get duly listed on the OTC market. This is scheduled for May this year and so it is assumed that the OTC market will finally become operational in the month of May.

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