Oil India plans IPO

New Delhi, Sept. 26: Oil India Ltd (OIL) plans to tap the capital market through an initial public offering (IPO) this fiscal. The exploration firm will offload 10 per cent stake to the public and the amount raised will be used to fund expansion plans in India and abroad. OIL’s total paid-up capital is Rs 214 crore. Proceeds from the offer could also be used towards taking a 25 per cent stake in HPCL’s 9-million-tonne Bhatinda refinery.

UWB views

Mumbai, Sept. 26: The United Western Bank (UWB) board has decided to place its views on the proposed merger of the bank with IDBI before the Reserve Bank tomorrow, the last day for submission of suggestions and objections to the scheme.

Fastow jail

Houston, Sept. 26: Andrew Fastow, whose financial wizardry was exposed as fakery and theft in the Enron Corp collapse, was sentenced to six years in prison on Tuesday — four years less than provided in his 2004 plea agreement.

BSE dividend

Mumbai, Sept. 26: The Bombay Stock Exchange (BSE) has announced an 1132 per cent dividend per share during the first ever annual general meeting held after its corporatisation last year.

CSE status

Calcutta, Sept. 26: The Securities and Exchange Board of India has extended supercession of the committee of the Calcutta Stock Exchange Association Ltd for another six months.