In pursuant to the new fund raising plan approved by Vodafone Idea’s (VIL) Board in February 2024, the Company launched a mega follow-on public offer (FPO) of Rs 18,000 cr. The FPO was offered in the price band of Rs 10 to Rs 11 and was open from April 18 to April 22. The Company … Read more
The Board has approved a new fund raising plan of Rs 45,000 cr. Rs 20,000 cr will be through a mix of equity and equity linked instruments. Balance Rs 25,000 cr will be through debt. Promoters will also participate in the proposed equity raise. No further details are provided for now. The company will complete … Read more
There are two notable developments at Spicejet – It’s interested in looking at the bankrupt Go First for acquisition Has expressed interest to Go First’s Resolution Professional and will submit an offer post diligence Further to it’s recently announced plan to raise fresh capital of $270 mn i.e. Rs 2,254 cr – It has announced … Read more
The Company has announced – Up to 1,25,00,000 (One crore twenty five lakhs) fully convertible equity warrants convertible into equivalent number of Equity Shares of the Company having face value of Rs. 10/- each, at a Premium of Rs 35/- per Warrant, aggregating up to Rs. 56.25 cr 25% of the consideration shall be payable … Read more
Glenmark Pharma (GPL) is selling 75% stake in Glenmark Life Sciences (GLS) to Nirma. GPL currently holds 82.84% in GLS. Post transaction it would be left with 7.84%. The transaction has been agreed at Rs 615/ share implying an equity valuation of Rs 7,535 cr for GLS. GPL will get Rs 5,651.5 cr for 75% … Read more
The Company has agreed to sell 22 acres in Worli to Sumitomo Realty & Development Company Limited, a large commercial real estate investor and developer in the Japanese market. Sale is in two phases Phase 1 –Â Bombay Dyeing (BDMC) will receive about Rs. 4,675 crore from the buyer by October 2023. Phase 2 – … Read more
Nazara has made a preferential allotment to Nikhil Kamath (Zerodha co-founder). Allotment is for Rs 100 cr @ Rs 714/ per share (pre announcement market price was Rs 759.55/ share) Nikhil controlled entities already had a stake of around 1% in the Company and this deal will increase his stake to around 3.5%. He has … Read more
SEBI had received complaints dated October 6, 2022 and May 12, 2023 in respect of the preferential allotments made by Brightcom Group (BGL) during FY 20 and FY 21. Such issues totalled Rs 867.78 cr. Complaints were related to – Related party allotments; Siphoning off of the money raised; and Improper disclosures on utilisation of … Read more
Reliance (RIL) is doing everything that one could possible imagine. Whether it’s fund raises or businesses, it’s everywhere. Now it’s subsidiary Reliance Retail Ventures (RRVL) has filed a document with SEBI to raise funds through the InvIT route. (This is the fourth InvIT from Reliance following it’s infrastructure trusts in gas pipelines, Jio telecom towers … Read more