State Bank of India said it has no plans to buy the 24% stake owned by Abu Dhabi-based Etihad Airways in embattled Indian carrier Jet Airways. The report ” is factually incorrect and no such transaction has been contemplated,” SBI said in a statement today. The clarification comes in the wake of heavy criticism that […]
Vodafone Idea said it has priced its rights issue at Rs 12.50 per share. The offer price of Rs 12.50 per share represents a discount of 31% over the post-issue, weighted average price of Rs 18.09 per share, assuming that the company manages to sell all the shares it wants to under the rights issue. […]
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 […]
Promoters, including Malvinder Singh and Shivinder Singh, saw their combined shareholding in financial services provider Religare Enterprises Ltd come down by 2.16 percentage points due to the invocation of pledges, they said in a regulatory filing. The filing comes in the wake of reports that the company’s board may be reconstituted to give more representation […]
Idea Cellular, one of India’s largest telecom operators, said the recently concluded sale of its shares to institutional investors, along with a recent fund infusion by the promoter, will reduce its net debt by Rs 6,750 cr. “This equity raise of Rs. 3,500 crore along with recent infusion of Rs. 3,250 crore by Idea’s Promoter […]
Idea Cellular said it has approved a price of Rs 82.50 for the shares to be sold as part of its Rs 3,500 cr qualified institutional placement. The price implies a discount of 2.6% to the opening price of Idea Cellular stock on the NSE today. It also said that it will close its QIP […]
The total amount raised via initial public offering of equity shares in the first eight months of the current financial year is more than the total proceeds raised in the previous five years, according to SEBI data. A total of Rs 62,736 crore has been raised in April-November period, higher than the Rs 62,147 raised […]
Post production services company Prime Focus Limited said it will raise Rs 330 cr by selling warrants, mostly to its promoter group. The company would issue 31 mln warrants, taking the total diluted equity base of the company to 330 mln from 299 mln. The warrants are being issued at Rs 106 each compared to […]
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 […]
Edelweiss Financial Services said it raised Rs 1,527.75 crore by selling its shares to institutional investors through the Qualified Institutions Placement (QIP) route, the first time it has raised funds by selling shares after the IPO ten years ago. The QIP opened on November 15, 2017 and closed on November 20, 20 17. It sold […]
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 […]
Bharti Airtel said it raised Rs 3,325 crore (USD 510 Million) by selling shares in its tower subsidiary. It sold 83 mln shares at Rs 400.60 each. The price was at a discount of 3.6% to the previous day’s closing level. Shares of Infratel opened down by about 4% today due to the deals done […]
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 […]
ICICI Bank, one of India’s top banks, said it has decided to list its equity broking arm ICICI Securities. “The board of directors of the bank today approved the sale of a part of its shareholding in ICICI Securities Ltd in an initial public offering by the company, subject to requisite approvals and market conditions,” […]
Mahindra and Mahindra Financial Services said the company board has approved a proposal to raise up to Rs 2,250 cr by selling shares or instruments convertible to shares. It said a Securities Issue Committee has been set up to undertake decisions in relation to the proposed issuance. Mahindra & Mahindra Financial Services Limited (MMFSL) is […]
State Bank of India said it raised Rs 15,000 cr by selling its shares in a ‘qualified institutional placement’ or QIP, making it the largest such transaction in Indian share market history. QIP’s usually involve selling shares exclusively to big institutions such as mutual funds, banks and other investment houses and are cheaper and quicker than […]
The central government has okayed the listing of India’s premier renewable energy agency, IREDA, via an initial public offer. The move will help the non-banking finance company “increase its equity base which will help them raise more debt resources for funding renewable energy projects,” the government said. IREDA supports the non-traditional energy sector by giving […]
Yes Bank, one of India’s youngest, and fastest-growing banks, said it had no plans to go for a billion-dollar qualified institutional placement of its shares as reported by the media. The bank had tried to do a mega share sale in September last year, but the effort didn’t find success for various reasons. This time, […]
United Bank of India said it is allotting equity worth up to Rs 300 cr to Life Insurance Corporation of India. United Bank of India is an Indian government-owned financial services company headquartered in Kolkata, West Bengal, India. Life Insurance Corporation of India is an Indian state-owned insurance group and investment company headquartered in Mumbai. […]
