STOCKS IN ACTION 25 SEPTEMBER
SBI: The state-run lender has raised Rs 10,000 crore through long-term infrastructure bonds at a 7.49% coupon rate. The proceeds from bonds will be utilised to enhance long-term resources for funding infrastructure and the affordable housing segment. SBI has outstanding long-term bonds worth Rs 39,718 crore with this issue.
Reliance Industries: Unit Reliance Retail Ventures received the subscription amount of Rs 2,069.50 crore from KKR. It allotted 1.72 crore of equity shares to KKR.
LIC: The company received an order demanding GST along with interest and a penalty worth Rs 290.5 crore from Bihar's Additional Commissioner of State Tax. The company said it will file an appeal before the GST Appellate Tribunal against the order.
JSW Steel: The company executed the Termination Agreement with New Zealand's National Steel Holdings for the termination of the JV agreement for establishing scrap shredding facilities in India. It will purchase NSHL's 50% stake in NSL Green Recycling.
Bajaj Finance: The board will convene on Oct. 5 to consider raising funds via QIP.
Power Finance Corp: The company has allotted 66 crore fully paid-up bonus equity shares of the face value of Rs 10 each in the ratio 1:4.
Mahindra & Mahindra Financial Services: The company has completed the acquisition of Mahindra Insurance Brokers for Rs 206 crore, at a price of Rs 1,001 per share. MIBL is now a wholly owned subsidiary of the company.
Blue Star: The board approved the allocation of 1.29 crore equity shares at an issue price of Rs 770 apiece to 41 qualified institutional buyers. Norges Bank and SBI Large & Midcap Fund each secured over 12% of the issue.
Ircon International: The company has a contract worth $14.89 million, or Rs 122 crore, with Sri Lanka Railways for the design, installation, and commissioning of signalling and telecommunication systems.
Vaibhav Global: U.K. unit Shop TJC to acquire teleshopping brand Ideal World’s IP and broadcasting rights, studio equipment
Zen Technologies: The company has bagged a Rs 227.65 crore order from the Defence Ministry.
Karnataka Bank: The board approved raising Rs 1,500 crore through the issue of equity shares. Of this, Rs 800 crore will be raised via a preferential issue of shares at Rs 239.52 apiece.
Edelweiss Financial Services: The equity shares of Nuvama Wealth Management are to be listed and admitted for dealing on BSE and NSE as of Sept. 26. Nuvama Wealth Management was formerly known as Edelweiss Securites. Edelweiss Securities had previously demerged from Edelweiss Financial Services.
Delta Corp: The company received a Rs 11,139-crore GST demand order from Hyderabad's Directorate General of GST Intelligence. The company said the tax liability amount claimed is based on the gross bet value of all games played at casinos rather than gross gaming revenue. It will pursue remedies to challenge the tax demand.
Kirloskar Oil Engines: Anurag Bhagania to resign as CFO with effect from Nov. 22.
Swan Energy: The board approved raising up to Rs 1,435 crore via preferential issue of shares. It will issue up to 2.9 crore shares at Rs 495 apiece.
Borosil: The company reported delays in receiving delivery of imported equipment and machinery from Europe required for setting up the furnace for the 25-tonne borosilicate glass factory in Jaipur, Rajasthan. The project is likely to be commissioned on or before Jan. 31, 2024.
Inox Green Energy: The company has entered into a share subscription agreement to acquire a 51% stake in Resowi Energy.
SBI: The state-run lender has raised Rs 10,000 crore through long-term infrastructure bonds at a 7.49% coupon rate. The proceeds from bonds will be utilised to enhance long-term resources for funding infrastructure and the affordable housing segment. SBI has outstanding long-term bonds worth Rs 39,718 crore with this issue.
Reliance Industries: Unit Reliance Retail Ventures received the subscription amount of Rs 2,069.50 crore from KKR. It allotted 1.72 crore of equity shares to KKR.
LIC: The company received an order demanding GST along with interest and a penalty worth Rs 290.5 crore from Bihar's Additional Commissioner of State Tax. The company said it will file an appeal before the GST Appellate Tribunal against the order.
JSW Steel: The company executed the Termination Agreement with New Zealand's National Steel Holdings for the termination of the JV agreement for establishing scrap shredding facilities in India. It will purchase NSHL's 50% stake in NSL Green Recycling.
Bajaj Finance: The board will convene on Oct. 5 to consider raising funds via QIP.
Power Finance Corp: The company has allotted 66 crore fully paid-up bonus equity shares of the face value of Rs 10 each in the ratio 1:4.
Mahindra & Mahindra Financial Services: The company has completed the acquisition of Mahindra Insurance Brokers for Rs 206 crore, at a price of Rs 1,001 per share. MIBL is now a wholly owned subsidiary of the company.
Blue Star: The board approved the allocation of 1.29 crore equity shares at an issue price of Rs 770 apiece to 41 qualified institutional buyers. Norges Bank and SBI Large & Midcap Fund each secured over 12% of the issue.
Ircon International: The company has a contract worth $14.89 million, or Rs 122 crore, with Sri Lanka Railways for the design, installation, and commissioning of signalling and telecommunication systems.
Vaibhav Global: U.K. unit Shop TJC to acquire teleshopping brand Ideal World’s IP and broadcasting rights, studio equipment
Zen Technologies: The company has bagged a Rs 227.65 crore order from the Defence Ministry.
Karnataka Bank: The board approved raising Rs 1,500 crore through the issue of equity shares. Of this, Rs 800 crore will be raised via a preferential issue of shares at Rs 239.52 apiece.
Edelweiss Financial Services: The equity shares of Nuvama Wealth Management are to be listed and admitted for dealing on BSE and NSE as of Sept. 26. Nuvama Wealth Management was formerly known as Edelweiss Securites. Edelweiss Securities had previously demerged from Edelweiss Financial Services.
Delta Corp: The company received a Rs 11,139-crore GST demand order from Hyderabad's Directorate General of GST Intelligence. The company said the tax liability amount claimed is based on the gross bet value of all games played at casinos rather than gross gaming revenue. It will pursue remedies to challenge the tax demand.
Kirloskar Oil Engines: Anurag Bhagania to resign as CFO with effect from Nov. 22.
Swan Energy: The board approved raising up to Rs 1,435 crore via preferential issue of shares. It will issue up to 2.9 crore shares at Rs 495 apiece.
Borosil: The company reported delays in receiving delivery of imported equipment and machinery from Europe required for setting up the furnace for the 25-tonne borosilicate glass factory in Jaipur, Rajasthan. The project is likely to be commissioned on or before Jan. 31, 2024.
Inox Green Energy: The company has entered into a share subscription agreement to acquire a 51% stake in Resowi Energy.
