L&T to raise $300 m

Mumbai, March 30: Larsen & Toubro Ltd (L&T) is planning to raise $300 million through the issue of global depository receipts and foreign currency convertible bonds. The shareholders would consider the issue of FCCBs, GDRs provided they do not result in an increase of the issued and subscribed equity share capital of the company by more than 10 per cent of the enhanced and outstanding equity shares.

MCX move

Mumbai, March 30: The Multi Commodity Exchange of India (MCX) today announced a strategic partnership with Bursa Malaysia Derivatives Berhad, a wholly-owned subsidiary of Bursa Malaysia Berhad. The two exchanges will work together to develop the commodities market and explore other business opportunities.

MRF dividend

Mumbai, March 30: MRF Ltd today declared a final dividend of 140 per cent for the year ended September 30, 2005. The company has re-appointed K.C. Mammen, Vijay R. Kirloskar and K.M. Philip as directors.

Doha Bank

Dubai, March 30: Doha Bank is gearing up to open branches in India, Washington and London. Steps to execute the expansion plans will be taken after approval from the Qatar central bank, the banking regulatory authority in Doha.

Birla firm

Mumbai, March 30: Mysore Cements, an SK Birla group company, has allotted 49290 cumulative redeemable preference shares on a private placement basis to IDBI.