Tech Mahindra, an M&M-promoted company, has notified that it has successfully raised Rs 600 crore of debt through issuance of bonds.

The company said that it has allotted 6,000 non-convertible debentures (NCDs) of face value of Rs 10 lakh each, aggregating to Rs 600 crore on April 17.

Recently, Tech Mahindra through its arm Venturbay Consultants, won the race to acquire controlling stake in scam-hit Satyam Computer. The company has to pay Rs 1,756 crore by April 21, for acquisition of a 31 per cent stake in the company.

Ashok Minda Group, Country’s leading auto component manufacturer, has plans to set up a new manufacturing facility in Uzbekistan with an initial investment of $25 million.

Sources reported that the raw material for the proposed Uzbekistan plant would be shipped from India to control input costs as key inputs like steel and plastic cost, which is available lower cost in India compared to abroad.

Seamec Ltd, a subsidiary of Cof lexip Stena Offshore (Mauritius) Ltd., has signed a contract with a Dubai firm, Dulam International, to deploy one of its vessels for twelve months for $16.12 million.

The contract will commence around mid-June 2009.

Apart from the latest order, the company has also bagged a $4.47 million contract for deployment of vessel in Persian Gulf.

The Charter will commence effective from May 16, 2009.

Seamec Ltd. primarily provides support services, including marine, construction, and diving services to offshore oilfields in India and internationally. It operates three vessels: SEAMEC 1, SEAMEC 2, and SEAMEC 3.

According to Economic Times' reports, Kiran Karnik, the government-appointed Chairman of the scandal-ridden Satyam Computer Services said that up to 10 percent of the company's 48,000-strong workforce might be rendered redundant, as the founder had hired excessive staff to conceal the monetary scam at the firm.

The proposed move of downsizing the staff comes after mid-sized outsourcer Tech Mahindra Ltd - the highest bidder of this week's bid for a controlling stake in the Satyam Computer - took over the company.

The Bharti Telemedia subsidiary of the telecom giant Bharti Airtel is reportedly negotiating a deal with two infrastructure service providers Cisco and Alcatel-Lucent, related to outsourcing the 'last-mile' connectivity of its broadband operations.

The 'last-mile' concept essentially constitutes the last lap of delivering connectivity from an operator's end to the customer's place. In the case of broadband services, 'last-mile' connectivity can be either through wired lines or over the wireless. By outsourcing its 'last-mile' operations, Bharti will be able to not only reduce its operational costs, but also concentrate on its core competencies.

In its latest move to add to the 'Do Not Disturb' policy, Bharti Airtel has launched its newest one-of-its-kind initiative - "My Airtel My Offer!" Using the service, the Bharti Airtel subscribers in Mumbai, Maharashtra, can enquire about the various ongoing offers to suit their needs, without receiving unwanted SMSs.

The service - which will be made available in English, Hindi and Marathi - can be accessed by dialing the toll-free number 12131. The direct call allows customers to listen to the personalized offers of the day, like best value tariff recharges; validity vouchers; or information about new value-added services.