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MSME ministry to fund innovative entrepreneurship ideas
The Ministry of Micro, Small and Medium Enterprises (MSME) has commenced a programme to promote the transformation of novel entrepreneurship ideas into business ventures by funding the projects.

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Obama less attentive to Indo-US friendship: US diplomat
A top diplomat of the Bush Administration who was its point man for negotiations on Indo-US nuclear deal, has accused President Barack Obama of being less attentive to the partnership between the two countries, saying the relationship has been stalled in some critical issues.

News of the day

SIS aims to sell 10,000 video telephony devices by Dec '09
Upbeat with successful trials after the soft launch of its video telephony devices, Ahmedabad-based IT solution provider, Sai Infosystems (India) Limited (SIS) expects to sell around 10,000 units of the same in the first two months of commercial launch that is expected in November this year. The company is rolling out video phone service in Gujarat in association with BSNL.
Small Business

Jubiliant Foodworks fixes IPO price band at Rs 135-145

Jubiliant Foodworks, which operates largest pizza chain Domino"s in domestic market, today fixed the price band for its proposed initial public offering (IPO) at Rs 135-145 per share. - Indian IPO market touched 5-year low in "09 - Investment bankers expect US IPO market to grow by 25% in 2010 - PE deals dip 63.6% in 2009 - Insurance firms may have to wait longer to list - Irda mulls Fee cap on traditional policies - IRDA to come out with IPO norms by Feb-end Jubiliant plans to sell 2.2 crore equity shares of Rs 10 each for a cash at a price to be exercised through a 100 per cent book-building process. The issue opens on January 18 and closes on January 20. At the upper end of the price band, Jubiliant plans to raise Rs 329 crore through the sharesale. Kotak Mahindra capital is acting as the sole book running lead manger to the issue. The proceeds will be used to fuel the company"s expansion in domestic and global markets and repay Rs 35-crore of debts, Jubiliant CEO, Ajay Kaul told reporters here. Jubiliant plans to open 65-70 standalone stores this year and will employ 25 staff per store. Presently, the company employs 9,460 people. The company, which had opened 33 stores last fiscal, runs 274 stores in India and 5 in Sri Lanka.


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