Corporate Snippets

L&T sells 28mn shares of Mahindra Satyam in the open market for ~Rs2.95bn last month. (BS)

Tata Motors plans to raise US$525mn through a QIP of ordinary and differential voting rights shares as part of its Rs47bn fund raising plan, aimed mainly at reducing debt. (BS)

Reliance Industries approached banks to help it raise at least US$1bn from a bond sale. (ET)

Reliance Industries informs the United States that it has stopped selling refined petroleum products to Iran. (ET)

Finance ministry has agreed to re-consider ONGC's request to reimburse the royalty it is paying to the Rajasthan government on behalf of Cairn India, its partner for the Barmer oilfield. (FE)

Government revives plan to offload SUUTI stake in Axis Bank. (FE)