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Mahindra Satyam has served ‘termination notice’ on the holders of ADRs (American Depository Receipts) and set the programme termination date as September 12, 2011.
Reaching out to the ADR holders through SEC (Securities and Exchange Commission of United States), the company said the last date for submitting ADRs is March 12, 2012 and the company, through Citibank would force sell the ADRs (after converting them to Indian equivalent of equity shares) during March 12 to 31.
“ADS holders who have not surrendered their ADS in time for cancellation will receive the net cash proceeds from the sale of the shares, together with the unpaid dividends,” the company informed the SEC.
While announcing numbers for the first quarter ended June 30, 2011, Mr Vineet Nayyar, the Chairman of Mahindra Satyam, had announced the winding down of ADS programme, giving ADS holders three options. They can offload during the winding down period, or open brokerage accounts (if eligible) and convert their ADS to Indian equity shares and sell. The third option is allow it to lapse to get credited into a separate account that, in turn, would be liquidated by Citibank. The proceeds, after paying taxes, would be remitted to the investors back in the US.

More than 36 IPOs that debuted on the bourses from July 2009 to date have anchor investors on board, of which only 10 are above their sale price, according to data from the ET Intelligence Group. Commercial Engineers and Body Builders, SKS Microfinance, Orient Green Power, Rakesh Jhunjhunwala-backed A2Z Maintenance and Carlyle-funded Claris Lifesciences are among issues where investors lost.

Sebi has taken numerous steps to protect retail investors including mandating rating of equity issuances by companies. Introduction of anchor investors in June 2009 was also a part of that move which came with safeguards such as a 30-day lock-in so that the route is not misused. While manipulation of the process was minimised, it hardly worked as a guide that it was meant to be for retail investors. "The anchor investor is committed to contributing to a certain percentage of the issue even before the issue opens. So the idea was that this must not result in churning and a 30-day period was considered sufficient," CB Bhave, the then Sebi chairman, had said while announcing the move in June 2009.

hi kartik . Please reply my query . . About 190call petronet . . . Can i see my price . Holding with huge loss now . . Can i average . . Now . .

Hi Kartik,
welcome, i will post compleate day roundup

Coal India posted net profit of Rs 4541.59 crore for quarter ended June 2011 as compared to Rs 3169.29 crore in the same quarter a year ago. Total income increased to Rs 4854.94 crore from Rs 3365.10 crore.
A2Z Maintenance and Engineering Services reported net profit of Rs 3.4 crore and total income of Rs 192.5 crore for quarter ended June 2011. The company’s order book stands at Rs 1414 crore as on July 31, 2011.
Punj Lloyd reported net profit of Rs 5 crore for quarter ended June 2011 as against loss of Rs 19 crore in the same quarter a year ago. Revenues rose to Rs 1353 crore as compared to Rs 1120 crore in the same period last fiscal.

Ahluwalia Contracts reported net profit of Rs 10.59 crore for quarter ended June 2011 against Rs 24.32 crore in the same period a year ago. Net sales were at Rs 311.68 crore as compared to Rs 394.78 crore in the corresponding quarter a year ago.
ICRA reported net profit of Rs 3.98 crore for quarter ended June 2011 as compared to Rs 10.83 crore in the same period a year ago. Total income was at Rs 23.79 crore as against Rs 27.07 crore

hi kartik can see any short covering expected tomo . . in reliance industries .can i enter call . With strict stoploss of 750. . Tomo . . Chart . Shows doji symbol on bottom . Its trading above . 750 today . Its closed narrow range today . . .even market fall . Today .