Nifty futures on the Singapore Exchange were trading 107 points, or 0.57 per cent, lower at 18,071, indicating a negative start on Dalal Street on Friday.
Landmark Cars: Shares of Landmark Cars are expected to get listed on the exchanges today. The initial public offer (IPO) of automobile dealership chain Landmark Cars was subscribed 3.06 times on the last day of subscription on Thursday, helped by heavy interest from institutional buyers. Bids were received for 2,46,45,186 shares against 80,41,805 shares on offer for the initial share sale.
Abans Holdings: Abans Holdings IPO It is expected to debut on exchanges today. Abans Holdings Limited has raised Rs 346 crore through this IPO. The price band has been fixed at Rs 256 per share to Rs 270 per share at a face value of Rs 2. About Rs 80 crore from the fresh issue will be used to invest in the company’s NBFC subsidiary, Aban Finance, to enhance its capital base to meet its future capital requirements.
Reliance Industries: Reliance Industries backed Reliance Strategic occupation Ventures (RSBVL) on Thursday acquired 23.3% stake in Exyn Technologies (Exyn) for a total of $25 million. The deal is expected to align with Reliance’s investments and strategic initiatives in the drones, industrial safety and security and robotics sectors. RIL announced the development in its regulatory filing.
JK Cement: JK Cement on Thursday announced its foray into paints business by acquiring 60% stake in Rajasthan-based Acro Paints in a deal worth Rs 153 crore. Its wholly owned subsidiary JK Paints & Coatings Limited has entered into a share purchase agreement with Acro Paints Limited and its shareholders to acquire 60 per cent controlling stake in the company. “The remaining 40 per cent will be acquired as per the definitive agreement between the parties over a period of 12 months,” a joint statement said.
Bank of Maharashtra: Public sector lender Bank of Maharashtra (BoM) on Thursday said it has raised ₹880 crore through Basel III compliant Additional Tier 1 (AT1) bonds. The issue closed on the same day and the deemed date of allotment is December 26. According to a statement by the bank, the offering, which included a green shoe option of ₹680 crore, was subscribed more than four times as its base size. of ₹200 crores. BoM said the bonds have been issued at a coupon rate of 8.74 per cent.
Yes Bank: In a fresh twist in the Yes Bank-Dish TV case, the private sector bank has transferred its 24.19% stake to JC Flowers Asset Reconstruction Company, along with the underlying loan to Subhash Chandra’s Essel group companies, The bank said in a statement stock exchange filing on Thursday. The move is part of the lender’s move to transfer bad loans worth ₹48,000 crore to an asset reconstruction company under the proposed 15-85 structure. With the transfer of shares to Dish, it will have more flexibility to proceed with the recovery process.
IFCI: Infrastructure term lender IFCI Ltd on Thursday said its shareholders have approved a proposal to raise up to Rs 1,000 crore through bonds and other instruments. The resolution was passed at the company’s Annual General Meeting (AGM) held on Thursday. The shareholders authorized the Board of Directors to raise funds including bonds and non-convertible debentures by way of private placement in one or more tranches up to an amount of Rs 1,000 crore.
Ramco Systems: Ramco Systems on Thursday received the approval of the board of directors to raise funds up to Rs 160 crore on a preferential basis by issue of equity shares and warrants. The shares will be issued on a private placement basis. Further, the shares will be issued at a premium as compared to the prevailing market price. According to a regulatory filing, Ramco Systems will issue 14,59,854 warrants at a price of Rs 274 per warrant, aggregating to Rs 40 crore.
Mahindra Lifespace Developers: Realty firm Mahindra Lifespace Developers Ltd has completed the acquisition of a 9.24-acre land parcel in Mumbai from Mahindra & Mahindra Ltd for Rs 365 crore. In February this year, Mahindra Lifespaces announced that it would buy land in Kandivali, Mumbai from Mahindra & Mahindra Limited for the development of a housing project. Mahindra & Mahindra is the promoter and holding company of Mahindra Lifespace Developers.
Ajanta Pharma: Promoter entities of Ajanta Pharma on Thursday sold 4.3% stake in the company through an open market transaction for ₹637 crore. The buyers included over two dozen funds such as UTI Mutual Fund (MF), Aditya Birla Sun Life MF, Franklin Templeton MF, ICICI Prudential MF, Mirae Asset MF, Abu Dhabi Investment Authority and Tata AIA Life Insurance Company. Ayush Aggarwal Trust and Ravi Aggarwal Trust sold a total of 54,92,846 shares, which is equivalent to 4.3% stake in Ajanta Pharma.
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