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Ashwin Bura / 21 Mar 2015
Reliance Infrastructure To Bid For Military Chopper Contracts worth over USD 3 BILLION
Anil Ambani Group is all set to make an entry into the defence sector with a subsidiary of Reliance Infrastructure set to bid for two major military chopper contracts worth over USD three billion. Reportedly, since past few weeks Ambani is in conversation with top executives of global defence manufacturers. The contract, which will proceed after replies are received from all industries by the end of this month, is valued at over USD1.5 billion and would involve manufacturing the choppers in India with complete transfer of technology. Ambani group is also set to respond to the requirement of 197 light helicopters for the army and air force to maintain troops in high altitude areas like the Siachen.
SEBI To Simplify IPO Rules For Startups
To boost fund raising from markets for new start-ups, capital markets regulator SEBI is planning to change rule that will make it easier for homegrown startups to list their shares on local stock exchanges, this will give investors to bet on the country’s booming online economy. Part of the relaxation of rule involves easing rules on mandatory disclosure for the draft prospectuses of Internet-based companies.Anniversary Issue, DSIJ Vol 30, Issue No. 8,
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