Stocks in news: Kotak Mah Bank, ING Vysya Bank, Tech Mah

Uday Kotak says-Momentous occasion for Kotak Mahindra Bank, ING Vysya Bank and Indian financial sector-All 17 Kotak subsidiaries will be subsidiaries of merged entity-ING will be significant shareholder in bank post merger-ING Vysya Bank will become Kotak Mahindra Bank-Upon merger, Kotak Mahindra Bank will have 1,214 branches-Branch density complementary in Mumbai and Delhi at 124 each-To leverage digital banking strength of ING Vysya Bank-Hope to get regulatory nods for ING Vysya Bank acquisition by April 1-Looking at accelerated branch presence-Looking at significant saving in product cost-ING group’s shareholding post merger at 6.5 percent-Upon merger, ING group to be 2nd largest shareholder in bank-FII holding in Kotak merged entity at 33.6 percent-Domestic holding in Kotak merged entity at 19 percent-Promoters holding in Kotak merged entity at 34 percent-Merger with ING Vysya doesn’t talk about cost cutting-Merger to increase significant return on assets, return on equity over a period of time-Primary driver of merger is revenue synergies, growth potential-Plan to leverage strong presence of ING Vysya Bank in SME business-To treat ING Vysya Bank’s saving deposit holders uniformly as bank’s-Marginal utility of branches will reduce-No immediate plan to raise funds; very well capitalised-Kotak merged to have 1,794 ATMs across the country-In top 8 cities, Kotak merged to have 441 branches-Uday Sareen will report directly to Uday Kotak-Uday Sareen to be a part of operating management team-Potential areas of cooperation have been identified by banks-ING Vysya brings 2 m diverse clients to the table-Merger will go a long way in scaling digital banking-Kotak to leverage ING Vysya's presence in international corporate banking-Merger ratio fair to all stakeholders

Anand Mahindra tweets-Congratulations Uday Kotak on a brilliant merger move-The enormous synergies are obvious

Uday Sareen says-Looking to grow this business as second largest shareholder-Combined entity will have diverse product offerings-Combined entity will have wider geographical coverage

Kotak Mahindra-ING Vysya Bank merger: Keki Mistry to CNBC-TV18 -Do not foresee cultural issues with Kotak Bank-ING Vyasa Bank merger

Uday Kotak to CNBC-TV18-Swap ratio is fair for all involved-Both boards believe swap ratio is fair for all stakeholders-1-year lock-in by ING Vysya Bank is its commitment to merged entity-Lock-in is sign of ING Vysya's commitment to make merger work-Our branch synergies are just awesome-Merger gives us significant time to market advantage-This is not a distressed deal for ING Vysya Bank-Have worked on many partnerships-Making relationships work is at the core of who we are-You will see higher return on equities

Uday Sareen to CNBC-TV18-ING Vysya is getting a 16 percent premium to 30-day average-Perfect complementarities that can be exploited-ING Vysya Bank understands managing diversity

Tech Mahindra-LCC deal: Tech Mahindra says-Signed definitive agreement to acquire 100 percent of LCCAlert: LCC is Lightbridge Communications Corp-Deal with LCC is company’s biggest acquisition ever outside India-Deal size between company and LCC is USD 240 million-LCC dollar revenue estimated at USD 430 million in CY14-LCC margins slightly above 8 percent-Expect transaction with LCC to close by Q4FY15-To absorb LCC's 5,700 employees-Company will have one lakh employees post LCC deal-LCC has an incredible geographical reach-Complimentary skills of LCC are very important for company-LCC CEO to oversee network solutions business-Deal will play a key role in expanding company's reach-Deal funded via internal accruals-Financial merger with LCC will take a few weeks-Financial closure of deal by the end of January-Will add 20-30 new clients with acquisition-Need regulatory approvals for deal to go through-Working towards getting better margins in the business-Both teams committed to achieve higher margins, growth rate-Revenue growth has been organic & inorganic-Combined margin should be around 8 percent levels-Task force takes into account harmonisation structure-Committed the combined entity should attain 20 percent margin-Intention is 5,700 LCC employees will be on-site

Tech Mahindra to CNBC-TV18-LCC has tremendous expertise network solutions business-Acquired largest company in world in the network side-LCC acquisition will help company to expand in US markets-Had been gingerly taking steps into network systems business-'LCC gives me a USD 100 million revenue uptick-Don’t see layoffs, VRS scheme for LCC’s 5,700 employees-Don’t see absorbing LCC’s 5,700 employees as a challenge-LCC deal will be EPS dilutive in year 1, accretive post that-Want to grow LCC’s business and its operating margins-Will not acquire companies just for EPS accretiveness-Have track-record in turning around companies like Satyam

RBI says-FII holding in YES Bank below prescribed threshold limit-FIIs can now buy shares of YES Bank

SBI chairman Arundhati Bhattacharya says-Have signed MoU with Adani Group-After MoU with Adani, proper due diligence will have to be done-Queensland government says no environment issues with project-No viability issues with Adani Queensland project Financial Technologies reconstitutes its board-Financial Technologies inducts 3 non-executive directors on its board-Financial Technologies inducts 2 executive directors on its board-Financial Technologies inducts Nisha Dutt, Sunil Shah, Miten Mehta as non-executive directors on board-Financial Technologies inducts Jigish Sonagra and Rajendra Mehta as executive directors on board-Financial Technologies board to now have 12 members-Financial Technologies board to now have 5 non-executive and independent directors-Financial Technologies board to now have 4 executive directors-Financial Technologies board to now have 3 non-executive directors

Financial Technologies says-Prashant Desai appointed MD and CEO of company-Jignesh Shah resigns as managing director of company-Jignesh Shah to become chairman-Emeritus of company JM Financial-Announces additional capital commitment to FICSAlert: FICS is JM Financial's real estate lending subsidiary-Provides additional capital of Rs 360 crore to FICS-Total capital commitment to FICS now at Rs 900 crore-Vikram Pandit joins FICS board as non-executive chairman

Pharma stocks in focusGovernment says-Will rollout a new pharma policy for bulk drugs in 10-15 days-Move will help the sector grow manifold over the next 5-7 years

Gammon India-Initiated talks to sell its arm Gammon Infrastructure Projects – ET-Company meets 3-5 potential buyers to sell 58.6 percent in GIPL-Deal may fetch up to Rs 1200 crore which it plans to use to trim debt

Other stocks and sectors that are in news today:-Bosch says to suspend manufacturing operations at Nashik plant for 2 days-Bharatiya Mazdoor Sangh (BMS) yesterday said will not join the proposed strike by Coal India employee unions on Monday, ringing the split among the unions to the fore: BS-Zen Technologies ex date stock split from Rs 10 to Re 1-Circuit filter revision: Linc Pen and Plastics from 20 percent to 10 percent-Motilal Oswal Real Estate: An arm of Motilal Oswal Private Equity as raised Rs 440 crore, through its second property fund after exercising the green-shoe option: ET

UB Engineering Q2: -Net loss at Rs 171.2 crore versus profit of Rs 1 crore (YoY)-Total income at Rs 306.3 crore versus Rs 582.8 crore (YoY)