YES Bank, India’s fourth largest private sector bank, said it has acquired 12.79% stakes in Electrical Engineering firm CG Power and Industrial Solutions as part of the invocation of a pledge. It acquired over 8 crore of equity shares of CG Power submitted as collateral for a loan. The shares are valued at Rs 288 […]
ICICI Bank said it has priced the initial public offer of its broking arm ICICI Securities at Rs 520 per share. The offer for sale was open to subscription from March 22 to March 26 with a price band of Rs 519 to 520. At Rs 520, the IPO will raise Rs 3,515 cr, the […]
Indian outsourcing company Infosys said it will delist its American Depositary Shares from Euronext Paris and Euronext London stock exchanges due to low transaction volumes. American Depositary Shares (ADSs) are securities issued by banks in place of actual shares, which are kept by the banks on behalf of the security holder. Their value depends on […]
PC Jewellers, the Delhi-based jewelry retailer, denied that there was any reason for the halving of its share price as was seen today. It issued a statement after the company’s shares fell from around Rs 500 to Rs 217 in trading today, reportedly over worries that the company may be linked with Vakrangee, another firm […]
The stocks of Bharti Airtel and Idea Cellular were down around 4% in early trade on Wednesday after Reliance Jio indicated that it would cut tariffs by about 25% as part of a new Republic Day offer. Airtel shares were trading down 21 rupees at Rs 471, while those of Idea were down 4.35 rupees […]
Idea Cellular said its board of directors have approved the issuance of 32.66 cr shares of the company to its promoter Aditya Birla Group at a price of Rs 99.50 each. The total infusion will be to the extent of Rs 3,250 cr. It also said it plans to raise Rs 3,500 cr from third […]
Adhesive manufacturer Pidilite Industries said it would return up to Rs 500 cr to its shareholder by way of a share buyback. The company’s board approved a buyback proposal for up to 5 mln shares at a price of Rs 1,000 each, aggregating to Rs 5 bln (500 cr). The shares are being traded at […]
Shareholders of Tata Teleservices Maharashtra Ltd — the listed unit of Tata Tele — will get one share of Bharti Airtel for every 2,014 shares held by them, the company said. The ratio of share issue indicates that the consumer mobile business of Tata Telservices Maharashtra Ltd accounts for only 3.77% of the equity value […]
Mirc Electronics, which makes Onida brand of consumer durables, said nine private investors will put in Rs 144.12 cr in the form of equity investments into the company. The company will issue 1.92 crore equity shares and 1.92 crore convertible warrants at Rs 37.53 to these investors. Shares of Mirc Electronics were trading at Rs […]
Reliance Capital, the financial services arm of the Anil Ambani Group, said the Securities and Exchange Board of India (SEBI) issued its final observation letter to the draft red herring prospectus filed by its general insurance unit. The group had recently seen the successful IPO of its life insurance company, Reliance Nippon Life Insurance, which […]
The Securities & Exchange Board of India, the regulator for traded securities such as stocks, has given an exemption to Bank of India to conduct a qualified institutional placement or QIP of Rs 3,000 cr. The bank is technically ineligible for conducting a QIP — which is not considered a ‘public offering’ — as it […]
Housing Development Finance Corporation Ltd or HDFC said the initial public offering of its life insurance unit HDFC Standard Life Insurance has been priced at the upper end of Rs 290 per share. The IPO will now mop up Rs 8,695 cr from the market. The shares were being offered in a band of Rs […]
Reliance Communications said it the company’s board has approved the issue of fresh shares in the company to the shareholders of Sistema Shyam Teleservices Ltd, which operates the MTS brand of telecom services in India. RCom’s merger with MTS received the government’s approval a few days ago. Since companies in India can get an extension […]
Reliance Capital said the IPO of its subsidiary Nippon Life Asset Management will open on Oct 25 and close on Oct 27, with a price band of Rs 247 to Rs 252 per share. The offer will raise about 1,500 cr, out of which about Rs 600 cr will go to the company and the […]
Prakash Industries, one of India’s biggest PVC pipe manufacturers, said it has decided to double its production capacity over the next two years. The investment will be entirely funded from the company’s internal funds. “Over the (last 37) years, the company has enhanced its product portfolio and has grown to a capacity of 55,000 Tonnes […]
Adani Enterprises Limited said it will demerge Adani Green Energy Ltd by cancelling the shares it holds in the subsidiary and issuing new shares directly to the shareholders of the parent company. Shareholders will get 761 shares of the new company for every 1,000 shares they hold in the parent company. They do not have […]
Reliance Industries refused to deny or confirm media reports about its telecom unit Jio being in talks to acquire cable operator Den Networks. Shares of Den Networks, one of India’s largest cable networks, are up 6.2%, having opened higher on the news. “We are unable to comment on media speculation and rumors and it would […]
InterGlobe Aviation, the company that operates the country’s largest airline Indigo said the company would raise Rs 2,530 cr by issuing fresh shares. At the same time, existing shareholders of the company would raise Rs 1,265 cr by selling some of their shares as well, the company said. The total size of the offering would […]
Infosys said it has been inducted into the Dow Jones Sustainability Indices (DJSI) and is now part of two of the indices — DJSI World and DJSI Emerging Markets. The indices measure the economic, environmental and social performance of companies and are based on the companies’ corporate governance, risk management, branding, climate change mitigation strategies, […]
Mumbai-based real estate developer Capacit’e Infraprojects has priced its initial public offer at Rs 245-250 per share. The company said it will open its Rs 400 cr IPO on Wednesday, Sep 13 and close it on Sep 15. Up to 50% of the issue will be allocated to institutional investors, and within this, up to […]
