Dependency Industries: The company is looking to raise Rs 60,000-63,000 crore by selling a 15% stake in Reliance Retail Ventures, the holding company of its retail businesses, to a group of private equity and sovereign wealth investors.
State Bank of India: The country’s largest lender, the SBI, raised 4 billion rupees in additional Tier 1 bonds at a coupon of 7.74 percent, the bank said in a regulatory filing.
Hexaware: The process of building Hexaware Technologies’ reverse book, the first delisting offer from a private equity player in India, opened on Wednesday. For existing investors, it is an opportunity to exit slightly above current levels, new investors should be careful when building new positions, especially in the weak market, as there is limited advantage, analysts said. They expect the book to be built anywhere in the Rs 450-470 range.
Indiabulls Home Financing: Indiabulls Housing Finance launched its QIP (Qualified Institutional Placement) on Wednesday and set the minimum price at Rs 206.70 per equity share for the issue.
Coal India: The 54 state-owned Coal India mining projects are behind schedule, mainly due to delays in obtaining green approval and problems related to rehabilitation and resettlement. The development takes on importance in the context of Coal India, which forecasts a production of 1 billion tonnes by 2023-24.
Escorts: Victory Emerging Markets Small Cap Fund bought 8.03,003 shares of tractor manufacturer Escorts at Rs 1,165.44 per share.
Dynamics of Bharat: Bharat Dynamics (BDL) offer to sell (OFS) was signed for 76 percent on the last day of bidding. Although the base 10 percent share sale offering was fully subscribed, it failed to sell the 5 percent green shoe add-on option in full. The government is likely to raise around Rs 770 crore from the BDL OFS.
Eveready Industries: Battery and flashlight maker Eveready Industries India reported a more than threefold increase in consolidated net profit to Rs 24.98 crore for the June quarter, helped by an improved gross margin and lower cost of operations.
Hindustan Copper Bank, Jammu & Kashmir: Hindustan Copper, Sintex Industries, Jammu & Kashmir Bank, Datamatics Global Services are among the companies that are scheduled to announce their June quarter earnings on Thursday.
India Transportation Corporation: HDFC MF bought 8.64,000 shares of Transport Corporation of India at 215 rupees per share, while Himalaya Finance & Investment Co sold 10.45,664 shares of the company at the same price.
National Bank of Punjab: The state bank Punjab National Bank NSE (PNB) launched the ‘Festival Bonanza Offer’ on Wednesday for its clients to boost the moderate demand for loans due to the coronavirus crisis.
Dalmia Bharat: Cement maker Dalmia Bharat said it aims to emerge stronger despite a weak market condition, helped by initiatives such as cost reduction, marketing initiatives and premiumization.
Zicom Electronic Values: General Insurance Co of India sold 2.09,057 shares or a 0.51 percent stake in Zicom Electronic Securities at Rs 2.20 per share.
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