Corporate News
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.
Bharti Airtel Increases Investment in Indus Towers with 1% Equity Acquisition
Before this acquisition, Bharti Airtel had 47.95 per cent stake in Indus Towers. The telecom services provider had got approval from its directors for the acquisition of up to 2.7 crore equity shares in Indus Towers Limited, the company said in a regulatory filing.
Bharti Airtel Increases Investment in Indus Towers with 1% Equity Acquisition
Before this acquisition, Bharti Airtel had 47.95 per cent stake in Indus Towers. The telecom services provider had got approval from its directors for the acquisition of up to 2.7 crore equity shares in Indus Towers Limited, the company said in a regulatory filing.
India Inc. Expected to Maintain 15-18% Operating Profit Margin in Q1 FY25: Report
According to Kinjal Shah, Senior Vice President and Co-Group Head–Corporate Ratings at ICRA Limited, " Fourth quarter of FY2024 has seen 5 percent year-on-year and 6.3 percent sequential growth in revenue for corporate India." He mentioned that such stellar growth is witnessed on the back of strong demand witnessed across consumer-facing sectors like airlines, hotels, automobiles, and FMCG segments. Power and construction sectors also showed excellent growth.
Oyo Plans $125 Million Funding Round, Valuation Set at $2.5 Billion: Report
"Fresh fundraise of about $100 million to $125 million that slashes its valuation to $2.5 billion".
IIFL Finance Reports 6% Decline in Q4 Profit to Rs 431 Crore
Notwithstanding these, its consolidated total income for January-March 2024 rose to Rs 2,922 crore from Rs 2,276 crore in the year-ago period. Interest income from its diversified loan and mortgage portfolio saw a sharp rise to Rs 2,720 crore from Rs 2,058 crore in the same quarter a year ago.
Hyundai Motor India Prepares for $3 Billion IPO Launch
If regulators approve an IPO of this size, it would be India's biggest ever after the government-owned Life Insurance Corporation of India raised $2.7 billion last year.
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