State Bank of India said it raised Rs 15,000 cr by selling its shares in a ‘qualified institutional placement’ or QIP, making it the largest such transaction in Indian share market history. QIP’s usually involve selling shares exclusively to big institutions such as mutual funds, banks and other investment houses and are cheaper and quicker than […]
IT services player Infosys again clarified that its promoters had no plans to bring down their stake in the company. “Infosys would like clarify reports in the media speculating on plans of stake sale by the promoters,” the company said in response to a decline in its share price. “This speculation has already been categorically […]
Jet Airways said it inked an agreement with Aeromexico, the flag carrier airline of Mexico, to explore codeshare arrangements and shared frequent flyer programs. As part of the arrangement, both carriers will code on each other’s services between India and Mexico via common gates in Europe (London Heathrow, Paris Charles De Gaulle and Amsterdam). To […]
Anil Ambani-led Reliance Communications said it disagrees with the decision of agencies Moody’s and Fitch to downgrade the company’s credit rating based on its ‘standstill agreement’ with its lenders. Shares of RCom fell 4% to Rs 19.30 on the National Stock Exchange today as a result of the ratings action yesterday. “We respectfully disagree with […]
The central government has okayed the listing of India’s premier renewable energy agency, IREDA, via an initial public offer. The move will help the non-banking finance company “increase its equity base which will help them raise more debt resources for funding renewable energy projects,” the government said. IREDA supports the non-traditional energy sector by giving […]
Generic drug manufacturer Unichem Laboratories said its formulations manufacturing facility at Ghaziabad has successfully exited an inspection by the US Food and Drug Administration. It received an Establishment Inspection Report (EIR) from the USFDA, the company said. “This receipt indicates the successful closure of the inspection and the queries raised during the audit (Form 483). […]
GMR Airports Limited, a subsidiary of GMR Infrastructure Ltd, said it won the contract to develop, operate and manage the new international airport of Heraklion at Crete in partnership with a Greek company. GMR Airports Limited will be the designated Airport Operator in the consortium for this project. Heraklion Airport, located in Crete, is the […]
Zydus Cadila said the US Food and Drug Administration has given the final approval to market the company’s Mesalamine Delayed-Release Tablets in the US market. Zydus Cadila was the first to file an Abbreviated New Drug Application (ANDA) for a generic version of Lialda. Lialda is indicated for the treatment of mild to moderate ulcerative […]
Laurel Energetics, one of the six persons who are making an open offer for the shares of RattanIndia Infrastructure Ltd said the acquirers have submitted a bank guarantee of Rs 111.41 cr rupees for conducting the open offer. The bank guarantee was made a precondition for the open offer to buy 35.9 cr shares of […]
Tata Consultancy Services said it will create applications on MindSphere, the cloud-based, open IoT operating system from Siemens. IoT stands for ‘Internet of Things’ and refers to connectivity between two machines over the Internet, with zero human interface. Examples include a connection between a smart electricity meter at the customer’s home and a billing computer […]
Shareholders of Raymond Ltd rejected the sale of apartments in the company’s headquarters JK House to certain promoters. Chairman of the company Gautam Singhania had urged shareholders to vote against the resolution as the sale of the apartments would cause losses to the company as a whole. Four duplex flats were let to four members […]
Prominent activists such as Kanhaiya Kumar, Jignesh Mavani, Tehseen Poonawalla and Shehla Rashid have formed an anti-lynching front in the background of vigilante attacks in the name of religious symbols like the cow. Under the banner of the National Campaign Against Mob Lynching, the platform will fight against what it calls “cultural terrorism” that it […]
State Bank of India said its committee of directors for capital raising has decided to start receiving bids a qualified institutional placement of its shares with a floor price of Rs 287.58 per equity share. “The Bank may offer a discount of not more than 5% to the Floor Price,” it said. The bank is […]
The Aditya Birla Group said it got the approval of the Company Law Tribunal for the merger of Aditya Birla Nuvo Ltd and Grasim industries Ltd and the listing of Aditya Birla Financial Services Ltd. The approval was obtained from the Ahmedabad bench. “The approved Scheme has been filed with the BSE and the NSE. […]
Jet Airways launched a Commercial Pilot License training programme aimed at creating more than 380 professionals over the next five years, the company said. As part of the program, the first set of 60 cadets will begin training in the second half of 2017, with ground school and flight training at CAE’s flight academies in […]
Den Networks said it sold its home shopping channel to Pimex Broadcast Private Limited based in Noida. Den entered the business under a joint venture with Jasper Infotech, the holding company of e-commerce firm Snapdeal.com, two years ago. “The name of DEN and Snap deal will be dropped off from the branding,” said the cable […]
Tata Elxsi, the Tata Group’s design and technology services company, said one of the top five carmakers in the world has licensed its driverless car software for use as part of its research and development in this direction. Further details of the deal were not disclosed. “We are delighted with this latest win for AUTONOMAI […]
Godrej Properties Ltd announced its first project in Sohna in the National Capital region. The project, which involves approximately 157,000 square meters (approximately 1.7 million sq. ft.) of saleable area , will be located in Sector 33. “This project will offer and will be developed as a modern group housing development. This project is located […]
Sun Direct, the DTH arm of Sun TV, could end up benefiting from the financial troubles faced by Anil Ambani Group’s Reliance Communications. Speaking to media yesterday, Reliance Communications top honchos said the company was looking at various ways to reduce debt, including a sale of its DTH business. However, DTH services are notoriously difficult […]
Tamil Nadu-based Adpay Mobile Payment will formally launch its mobile services on Tuesday in a tie-up with state-owned Bharat Sanchar Nigam Ltd. The company, which will operate on the MVNO model, has sent out press invites for the inauguration function to be held on Tuesday. Under the MVNO or mobile virtual network operator model, a […]
