Corporate News
Indian FMCG Sector Sees Mergers & Acquisitions Surge to $938 Million in First Half of 2024
Terming it the "smoking gun" in the controversy over Adani's stock sale, Jethmalani zeroed in on Anla Cheng, Kingdon's wife and a known entity with Chinese connections in the US. Jethmalani accused the couple of using Kotak Mahindra Investments Limited to create an offshore account for trading Adani shares and earning huge profits by short selling them.
Ixigo Reports Over 200% Growth in Profit to Rs 73 Crore for FY24
Total revenues from operations grew by 20.4% y-o-y in Q4 FY24 to Rs. 164.9 Crore, showing sustained growth momentum across the year.
Unacademy CEO Critiques Byju Raveendran's Leadership Failures
"Byju failed because he didn’t listen to anyone. He put himself on a pedestal and stopped listening. Don’t do that. Never do that. Don’t listen to everyone but have people who can give you blunt feedback," Munjal emphasized in a series of posts shared on X.
Raymond Shareholders Back Gautam Singhania's Continued Role as CMD
"The company's shareholders, at its AGM held on June 27, approved the re-appointment of Singhania," Raymond Ltd said in a regulatory filing, adding that the AGM commenced at 3 pm and concluded at 4.05 pm.
UltraTech Cement Adjusts Acquisition Plan, Targets 25% Stake in RAKWCT
The company will acquire 12.50 crore shares of RAKWCT, which is lower than the proposed 15.80 crore shares in an earlier offer. A filing on Tuesday confirmed about the transaction by UltraTech Cement Middle East Investments Ltd (UCMEIL), its wholly owned subsidiary in UAE.
Prosus Writes Off Byju's Investment, Incurs $493 Million Loss
"A fair value loss of $493 million was recognised in other comprehensive income in the current year," Prosus informed.
Adani Group planning $100 bn capex with focus on energy transition, digital infrastructure: Jefferies
Adani Group has built a strong financial underpin for this very ambitious initiative. Its FY24 performance comes with an acceptable Five Year CAGR of 27%. Moreover, its leverage ratio was reduced in all of the businesses it has undertaken, which is sensible concerning leverage management. Infra businesses were highly profitable and yielding in excess of 80% of overall EBITDA managed by group levels.
Vodafone Divests 18% Stake in Indus Towers, Raises Rs 15,300 Crore
The money from the sale will be primarily used to significantly repay a portion of Vodafone's outstanding bank borrowings, which are 1.8 billion euros that were secured against Vodafone's assets in India. In a statement, Vodafone Group Plc said the gross proceeds from the placement amount to Rs 153.0 billion, or 1.7 billion euros.
Stanley Lifestyles Secures Rs 161 Crore from Anchor Investors Ahead of IPO
Some marquee names in the list of anchor investors are SBI Mutual Fund, Nippon India Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Quant Mutual Fund, Motilal Oswal Mutual Fund, Bandhan Mutual Fund, SBI Life Insurance Company, and Max Life Insurance Company. The information has been cleaned from a circular issued on the website of BSE.
SEBI Approves Ola Electric's Rs 5,500 Crore IPO
The IPO would have a fresh issue of ₹ 5,500 crore and an offer for sale of 9.51 crore equity shares. The draft red herring prospectus stated that Bhavish Aggarwal would sell 4.7 crore equity shares through OFS. Representative image Indus Trust, a promoter group, will offload 41.78 lakh shares.
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