Airtel going for preferential equity issue. Who would be the key.

Airtel continues to consolidate and strengthen it’s financial position. Company is holding board meeting on January 28, 2022 to consider a preferential issue of the equity shares. Currently, Airtel’s shareholders include – Mittal family 24.13%, SingTel 31.72% and balance by public. Rumours are that a strategic global investor would be investing into the Company. Last … Read more

Future Retail misses debt repayment obligation of Rs 3,495 crore

The Company has missed the last date for payment of Rs 3,494.56 crore to banks and others lenders. Key points to note – The last date for payment was December 31, 2021. The due date was as per the One Time Restructuring (OTR) plan approved by the lenders in April 2021 under an RBI announced … Read more

Raymond decides to list a wholly owned subsidiary

The Company’s board approves to go for IPO of JK Files & Engineering Limited (JKFE). Key points to note – JKFE is into steel files and tools business. The proposed IPO is of Rs 800 crore and is entirely offer for sale. No fresh money is expected to come into the Company. Raymond currently owns … Read more

After RBI relaxation, Hindujas look to increase stake in IndusInd Bank

Hindujas, the promoters of Indusind Bank are planning to increase their stake in IndusInd bank after the recent change in RBI regulations, whereby it allowed promotes to own 26% in the bank (as against 15% earlier). Key points to note – Hindujas currently own 16.54% of IndusInd. At current valuations, Hindujas would need about Rs … Read more

Reliance and Aramco call off the proposed investment deal

Reliance and Saudi Armco have mutually decided to call off the proposed investment by the latter of $15 bn into Reliance’s Oil to Chemicals (O2C) business. “Due to the evolving nature of Reliance’s business portfolio, Reliance and Saudi Aramco have mutually determined that it would be beneficial for both parties to re-evaluate the proposed investment … Read more

Kubota decides to buy fresh into Escorts. Promoters stay back.

There was a rumour few months back that Kubota will buyout Nanda family. What has instead happened is that Kubota has decided to invest fresh and become a joint promoter with Nandas. Key points to note – Kubota is investing Rs 1,873 crore into Escorts at a price of Rs 2,000/ share. As per regulations, … Read more

Macrotech raising 4000 crore equity from institutional investors

Macrotech Developers (Lodha Group) is raising about Rs 4,000 crore equity through preferential placement to the institutional investors. Key points to note – Issue comprises of 3.4 crore fresh issues of shares at floor price of Rs 1184.7/ share It would entail 7.5% dilution of the existing shareholders Objective of the fund raise is wide … Read more