Aditya Birla Fashion, Axis Bank, SBI, Vedanta, Indiabulls HFL
NEW DELHI: Here are the top 10 actions that could make the news today.
Aditya Birla Fashion and Retail: The Board of Directors of the Company has agreed to raise funds through the issuance of 4,000 rated and redeemable unsecured non-convertible debentures with a par value of ??10 lakh each on a private placement basis.
Axis Bank: The Reserve Bank of India (RBI) imposed a fine of ??25 lakh on Axis Bank Limited for violating the rules, the central bank informed on Wednesday. The private sector lender has launched an AT1 offshore bond offering to raise up to $ 1 billion, under the terms of the deal seen by Mint.
Bajaj electricity: The continuing shareholders of Nirlep have decided to exercise their option to call Bajaj Electricals to acquire 19.78% of the capital of Nirlep. Bajaj had acquired 79.58% of the capital of Nirlep in 2018.
Bharti Airtel: The planned $ 2.8 billion share issue by the telecommunications service provider will improve its net operating funds (FFO) leverage to around 2x and provide funds to strengthen its market position, according to Fitch Ratings.
Indiabulls housing finance: The company’s board of directors has approved the issuance of secure and redeemable NCDs worth ??1,000 crore or NCD unsecured, redeemable and subordinated with a guaranteed principal amount of ??200 crore with a subscription-based retention option up to ??800 crore, the total amounting to ??1,000 crores.
Jet Airways: The airline aims to resume flights in the first quarter of 2022, according to media reports. The airline plans to hire at least 1,000 employees in the first phase of its revival.
Kotak Mahindra Bank: The lender said on Wednesday that it had completed the process of selling more than 8% stake in Airtel Payments Bank to Bharti Enterprises for ??294.80 crores. On Tuesday, the bank announced that it had entered into a share purchase agreement for the sale of 20 crore shares (nearly 8.57% of the shares) of Airtel Payments Bank (APBL) to Bharti Enterprises.
Mahindra Holidays and Resorts: The company has increased the authorized share capital of the company to ??300 crore divided into 30 parts of crore of ??150 crore divided into 15 crore shares by amending the capital clause of the company’s memorandum of understanding.
SBI: The country’s largest lender said on Wednesday it had raised ??4,000 crore via additional Tier 1 bonds at a coupon rate of 7.72%, the first such issue in the domestic market after the Securities and Exchange Board of India issued new rules.
Vedanta: The mining company announced on Wednesday that its board of directors had approved an interim dividend of ??18.50 per share for fiscal year 22, i.e. ??6,877 crores.
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