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Service Provider
Bharti
09-03-2006: Bharti Tele-Ventures has issued 504,403 equity Shares of the company upon conversion of US $2.7 Million FCCBs as per the following schedule: UBS AG London has been allotted 37,363 shares; Merrill Lynch Capital Markets Espana S.A.SV has been allotted 93,408 shares; UBS AG London has been allotted 28,022 shares; Deutsche Bank AG London has been allotted 149,453 shares; and Morgan Stanley and Company International has been allotted 196,157 shares. With the allotment of the above shares the equity base of the company has increased from present level of 1,893,374,901 to 1,893,879,304 equity shares of Rs 10 each.
02-03-2006: Airtel launches a suite of Re.1 plans and presents an India without boundaries.
24-02-2006: Lim Toon and Lung Chien Ping have ceased to be director of Bharti Tele-Ventures w.e.f. February 24, 2006.

Reliance Communication Ventures (RCVL)
13-03-2006: The board of directors of the company has approved a proposal for the reorganisation of the Reliance Communication Ventures Limited group of companies, comprising inter alia, amalgamation of Reliance Infocomm, Reliance Business Management, Ambani Enterprises, Panther Consultants, Reliance Communication Solutions, Reliance Communications Technologies, Reliance Software Solutions and Formax Commercial. The scheme of amalgamation, as approved by the board of directors of the respective companies, envisages cancellation of cross holdings and issue of 82.15 crore equity shares of Rs 5 each of the company to the shareholders of the transferor companies as consideration for the proposed acquisition. The proposed Scheme of re-organisation will be prospective, and take full effect from April 01, 2006. The proposed re-organisation is based on independent valuations provided by KPMG India and JM Morgan Stanley.

Tata Teleservices (Maharashtra) 
03-03-2006: The meeting of the Rights Issue Committee of the Board of Directors of Tata Teleservices (Maharashtra) which was scheduled to be held on March 03, 2006 has been deferred till further notice. The meeting was to fix the price for issue of equity shares of Rs10/- each on a rights basis to the existing shareholders of the company in the ratio of 2 fully paid equity shares for every 25 shares held, and the record date for the issue of shares on a rights basis as above.

VSNL
13-03-2006: VSNL offers broadband services at Gujarat University campus.
07-03-2006: VSNL ties-up with Pizza Corner and Coffee World to offer Wi-Fi at 500 outlets.

Equipment Vendor
Aksh optifibre
17-03-2006: The Company has signed a long-term settlement agreement with Shin-Etsu Chemical, Japan for supply of improved version of fibre perform suitable for manufacturing of next generation optical fibre.
01-03-2006: Kailash S Choudhari, MD, Aksh Optifiber has acquired 1,250 equity shares and sold 116,649 equity shares of the company between February 13, 2006 to February 22, 2006. Choudhari's shareholding as on February 22, 2006, after the above transaction is 4,227,966 equity shares aggregating to 19.18 percent of total issued, subscribed and paid up equity share capital of company.

In its EGM held on February 28, 2006, Aksh Optifiber has approved the following: Issue of fresh equity/ADRs/GDRs/FCCBs/convertible bonds upto an aggregate amount of US $20 million or a sum equivalent thereof with a green shoe option of retaining additional amount aggregating upto $3 mn (15%) subject to various approvals/permissions/ sanctions as may be required; Authorising the Board of Directors to make additional investment upto Rs 40 crores in Aksh Broadband Limited; Converting the 100,000 preference share of Rs, 100 each to 2,000,000 equity shares of Rs 5 each.

Astra Microwave
07-03-2006: P Ashwini, daughter of C Prameelamma one of the Director has sold 10,000 shares at market rate on 2nd and 3rd of March, 2006.

GTL 
17-03-2006: Global Assets Holding Corporation formerly known as GECS Holdings) has acquired 1,570,000 shares aggregating to 1.91 percent of the total paid up capital of GTL. Global Assets after the said acquisition has 12,912,533 shares aggregating to 15.72 percent of the total paid up capital of GTL.
17-03-2006: Standard Chartered Investments and Loans (India) has acquired 13,186,717 shares aggregating to 16.0610 percent of the total share capital of GTL Limited on March 10, 2006. The mode of acquisition is by way of pledge. The shareholding of Standard Chartered Investments and Loans (India) after said acquisition is 13,186,717 shares aggregating to 16.0610 percent of the total share capital of GTL.
07-03-2006: UBS Securities Asia, A/c Swiss Finance Corporation (Mauritius)has acquired 727,809 shares aggregating to 0.8864 percent of the total issued capital of GTL Limited on February 27, 2006. After the said acquisition UBS  shares aggregate to 5.0635% of the total issued capital of GTL.
27-02-2006: The nomination & remuneration committee of the Board of Directors of the company at its meeting held on February 27, 2006, considered and approved allotment of 201,977 Equity Shares of Rs.10/- each for cash at a premium in terms of the ESOP Schemes, upon exercise of option for conversion of warrants.

Himachal Futuristic Communication
07-03-2006: The company's issue of Foreign Currency Convertible Bonds (FCCBs) upto US$ 30 Million, consisting of 300 unsecured FCCBs of US $100,000 each  subject to an over allotment option of upto 10 percent was opened at London on March 02, 2006. The Company has now informed the Exchange that the subscription to the said issue of FCCBs has been closed on March 06, 2006 at London. The Company has received subscription for 330 Bonds of US $100,000 each fully paid, aggregating to US $33 million. The allotment of said bonds has since been made.
06-03-2006: Emerging Markets Management, LLC a/c EMSAF-Mauritius have acquired 3,238,344 shares aggregating to 0.92 peercent of the total paid up capital of HFCL on February 24, 2006. The mode of acquisition is through market purchase and the shareholding of Emerging Markets Management, LLC a/c EMSAF-Mauritius after the said acquisition is 19,988,010 shares aggregating to 5.71 percent of the total paid up capital of HFCL.

ITI
17-03-2006: NP Singh, DDG (IP) has been appointed as part-time Official Director on the Board of the Company, in place of Vijoy Kumar, DDG, DOT.

Sasken Communication
23-02-2006: Sasken Network Engineering achieves TL 9000 certification. It is the first Indian company in the network engineering space to be certified by TL 9000 certification.

Subex Systems
07-03-2006: Subex makes another strategic acquisition. The company has entered into an agreement with Virginia based Mantas to acquire their business assets related to telecom frauds management. 
27-02-2006: Subex Systems Limited has informed the Exchange that the Members of the company, at their EGM held on February 25, 2006 have decided on issue of GDRs for raising an amount not exceeding US$ 10 million or its equivalent in Indian Rupees.
22-02-2006: Subex announces plans for a new campus.

Surana Telecom
16-03-2006: Devendra Surana, director, Surana Telecom has acquired 86,936 shares during the period March 04, 2006 to March 14, 2006. The mode of acquisition is through market acquisition and the shareholding of Devendra Surana after the said acquisition is 2,525,239 equity shares aggregating to 11.17 percent of the total share capital.

Narender Surana, MD, Surana Telecom has acquired 90,783 shares and sold 1,078 shares of Surana Telecom during the period March 04, 2006 to March 14, 2006. The mode of acquisition/sale is through market acquisition/sale and the shareholding of Narender Surana after the said acquisition/sale is 2,820,391 equity shares aggregating to 12.48 percent of the total share capital.

Sunita Surana, promoter, has acquired 20,821 shares of Surana Telecom during the period from November 30, 2005 to March 14, 2006. The mode of acquisition is through market acquisition. The shareholding of Sunita Surana after the said acquisition is 302,416 shares aggregating to 1.337 percent of the total share capital. 

Sterlite Optical Technologies 
09-03-2006: Sterlite Optical Technologies has scheduled EGM on March 25, 2006 for shareholder's approval towards preferential allotment of Equity Shares and warrants convertible into equity Shares to Twinstar International, a Company in the Promoters Group.
24-02-2006: Sterlite Optical Technologies has approved preferential allotment of equity shares and warrants convertible into equity shares to Twinstar International Limited, the entity in the Promoter's group, at a price of Rs 100 per share, subject to the approval of the shareholders at the general meeting. The number equity shares and warrants to be allotted are as under: Equity Shares of Rs 5 each – 2,800,000 and Warrants – 5,600,000. Each warrant will be convertible in one equity share of Rs 5 each, within a period of 18 months from the date of allotment.

Pravin Prashant
pravinp@cybermedia.co.in