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

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EPW Research Foundation Prudential Capital Markets PRUDENTIAL CAPITAL MARKETS, engaged in merchant banking, capital market advisory services, investment broking and securities trading, portfolio management and financial services, is diversifying into software exports, tea processing and exports, foreign exchange and NRI advisory services. The funds required for these projects, including margin money for working capital, have been estimated at Rs 73.4 crore and will be partly met by a public issue of 75,00,000 equity shares of Rs 10 each for cash at a premium of Rs 40 per share aggregating Rs 37.5 crore of which 18,00,000 equity shares have been reserved for allotment to NRIs on non- repatriable basis. The issue is opening on January 5, 1994 and is being lead managed by Vijaya Bank and Bank of Baroda. The remaining amount will be raised through internal accruals and term loans from financial institutions. While a 100 per cent export-oriented unit is being set up at Falta, West Bengal, to manufacture and process tea packets and bags and bulk blended tea speciality pack with an installed capacity of 12,000 mtpa, the Computer Software Development and Info- tech Services is proposed to be set up at Salt Lake City with an installed capacity of 2,50,000 man-hours per annum. The latter will be an offshore centre with satellite links through Videsh Sanchar Nigam to link the centre initially to the US and later to the Far East and Europe. The company is also planning to float a mutual fund jointly with Nagarjuna Finance.

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