Oil India IPO subscribed 1.28 times on day 1, QIB portion 2.3 times ((issue closes on September 10))

Wall Street Finance
-BK Modi acquires 51% stake in Wall Street Finance
-Spice Investment acquires 14.4% stake in via block deal at Rs 55/share
-Spice Investment acquires remaining 36.6% in off market transaction
-Spice Investment to make an open offer for 20%
-Open offer at Rs 55/share, opens on October 30, closes on November 18
-Alert: Reliance Money last week sold 36.8% stake via inter-se promoter sale at Rs 55/share

WB (West Bengal) Govt says: from PTI
-Proposed IT township in Rajarhat scrapped
-Infosys, Wipro informed of non-availability of land
-Infosys & Wipro were allotted 900 acres each: Sources
-Land allotted to Infosys & Wipro valued at Rs 1500 crore: Src
-Infosys Says: Was promised 100 acres of land; plan to invest Rs 250 crore

Gateway Distriparks
-To sell up to 25% in subsidiary Gateway Rail Freight
-To raise Rs 300 crore via stake sale to PE firm

WSJ Report
-Adlabs plans Rs 250 crore expansion in FY10
-Adlabs to set up a BPO centre in Navi Mumbai
-Investment in BPO planned at Rs 150 crore

Other stocks that are in news today:
L&T leads race for Rs 7,000 crore Mahagenco project – HT
Board meets: HCL Info FY09 ended September results
Gujarat NRE Coke board meet on September 19 on issue of bonus shares with differential voting rights ((lower rights than regular shares))
McNally Bharat board approves 1:10 rights issue at Rs 140, to raise Rs 43.5 crore ((CMP Rs 191))
ITI says plan to bid for MTNL’s WiMAX Franchisee Deal
2.77 crore Nagarjuna Construction shares to hit market ((QIP issue))
Ex-bonus: Navneet Publications @ 3:2
Ex-split: Anjani Synthetics from Rs 10 to Re 1

Indian ADRs: HDFC Bank, ICICI Bank up 3%, Tata Motors up 2%, Infosys, Wipro up 1%

Tags: Adlabs, Gujarat NRE Coke, HCL Info, ITI, l&t, McNally Bharat, Nagarjuna construction, Wall Street Finance

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