Public sector United Bank of India (UBI) is witnessing February 2010 deadline for its proposed maiden public offer, after receiving cabinet nod for the long-awaited capital restructuring.

According to sources, the bank intends to file the red herring prospectus with market regulator, Securities & Exchange Board of India (SEBI) after September 2009.

The IPO size was still pending for finalization by the bank, but reports hinted it would be over Rs 50 crore and the shares will carry a premium.

According to Business Standard's Wednesday report, expansion is on the cards for HMSI - Honda Motorcycle and Scooter India. The 100 per cent subsidiary of the Japanese Honda Motor Corporation, the HMSI intends spending Rs 300 crore in the next three-year period.

In a latest development, State Bank of India, the country’s largest lender, has decided to extend the special offer for auto and home loans by five months till September, this year.

According to banking officials, the move was taken to benefit those peoples, who felt the April deadline was insufficient for availing of the scheme.

For the third time in the last four months, GSM have surpassed the earlier record pertaining to the highest number of new additions made a single month - this time, crossing the 10-million new subscribers' mark!

The Indian stock markets remained buoyant and close higher on Monday, for the seventh consecutive day, after an intraday volatile session.

During trading session, the Sensex surpassed the 11,000 mark while the Nifty tested the 3,400 level. BSE Sensex settled the day at 10,967, up 163 points or 1.51%, and Nifty ended up 40 points or 1.21% to 3,382.

Further, BSE Mid Caps and Small Caps also ended the day with gains of 106.57 and 147.61 points at 3,464.92 and 3,915.16 respectively.  

The Rotary International president-elect John Kenny committed at a Friday press conference in Pune that the Rotary-supported projects will receive all the requisite funds, with $200 having been earmarked for polio eradication by the year 2012.