Adani Enterprises looks to raise Rs 20,000 crore from Follow On Public Offer

In line with the recent speculations, Board of Adani Enterprises (AE) has approved raising of further equity from public (FPO) aggregating up to Rs 20,000 crore. Proposal is subject to the existing shareholders’ approval which should not be a challenge given it’s shareholding structure – at September 2022 end, promoters held 72.62%, FIIs 19.12%, DIIs … Read more

Amicable family settlement happens at the Inox group

Currently Inox group is run by the 3rd generation of promoters – Brothers Pavan Jain (70) and Vivek Jain (66). Brothers have reached an amicable family settlement. Pavan Jain gets the control of – Inox Leisure – listed, movie theater business Inox Air Products – unlisted, industrial and medical gases manufacturer Inox India – unlisted, … Read more

Kubota of Japan rumoured to acquire Nanda’s stake in Escorts

Kubota Corp (KC) of Japan, an agriculture and heavy equipment firm is rumoured to be in discussions with the promoters (Nanda family) to acquire their stake in Escorts Ltd (EL). Key points to note – KC’s current mcap is around USD 27 bn and EL’s about USD 2.7bn. KC already owns 9.09% in EL – … Read more