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Adani Energy Solutions' board okays raising up to Rs 12,500 cr via equity shares
YourStory
ยท
1y ago
Medial
Adani Energy Solutions plans to raise up to Rs 12,500 crore through qualified institutional placement or other modes, according to the approval by its board of directors. The final approval from shareholders is scheduled to be sought at the annual general meeting on June 25, 2024. The company aims to issue equity shares or other eligible securities to raise the funds. The filing stated that the funds will be raised in one or more tranches, adhering to applicable laws.
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Adani Green Energy board okays pact to form JV, TotalEnergies to invest $444M
YourStory
ยท
11m ago
Medial
Adani Green Energy has announced that its board has approved binding documents for a joint venture with TotalEnergies. The agreement will allow TotalEnergies to invest an additional $444 million in a new 50:50 JV with Adani Green Energy. The JV will comprise a portfolio of 1,150 MWac of solar assets, including operational and under-execution projects. Adani Green Energy and TotalEnergies will each hold a 50% stake in the JV company. TotalEnergies currently has a 19.75% shareholding in Adani Green Energy.
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Adani Energy Solutions Wins Rs 1,600-Crore Maharashtra Transmission Project, Plans Rs 4,300-Crore Capital Raise | DeepNewz VC
deepnewz
ยท
2m ago
Medial
Adani Energy Solutions has secured a Rs 1,600 crore transmission project in Maharashtra. The project's objectives and implementation details were not outlined in the snippet provided. Additionally, the board of Adani Energy Solutions has approved plans to raise up to Rs 4,300 crore, as indicated by the accompanying Moneycontrol link, for potential capital investments or operational expansions, reflecting the company's growth strategies within India's power sector.
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CCI okays Bain Capital's proposal to acquire stake in Manappuram Finance
Economic Times
ยท
1m ago
Medial
The Competition Commission of India approved Bain Capital's acquisition of a stake in Manappuram Finance. Bain, through BC Asia Investments affiliates, will obtain shares via private placement and purchase substantial shares from public shareholders. The transaction involves preferential allotment, equity warranties, and triggers an open offer under SEBI's takeover rules. Bain Capital will invest Rs 4,385 crore to acquire an 18% stake in Manappuram Finance, which primarily provides gold, vehicle, and MSME loans.
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Nazara set to raise up to Rs 750 Cr from QIBs
Entrackr
ยท
2y ago
Medial
Gaming company Nazara Technologies is raising up to Rs 750 crore by way of issuance of new equity shares or any other equity linked instruments through qualified institutional placements.
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Ecom Express DRHP: Partners Group to sell stake worth Rs 931 Cr
Entrackr
ยท
11m ago
Medial
Logistics firm Ecom Express has filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO). The DRHP has come just after days of an Entrackr report about the firmโs board giving a nod for the IPO. The firm has proposed to raise RS 2,600 crore in IPO, through a fresh issue of equity shares aggregating up to Rs 1,284.5 crore and an offer for sale (OFS) of up to Rs 1,315.5 crore worth equity shares. Partners Group will be offloading shares worth up to Rs 931 crore, while Warburg Pincus and BII (formerly CDC Group) will sell shares worth Rs 211 crore and Rs 137 crore, respectively, during the offer for sale. As per the time of filing, Partners Group is the largest stakeholder with 49.76% followed by Warburg Pincus and BII (British International Investment ) which hold 27.13% and 10.03%, respectively. As per the DRHP, IIFL Securities Limited, Axis Capital, Kotak Investment, and UBS Securities India are the book-running lead managers of the issue. This is the second attempt by the 13 year-old-firm for public listing. In February 2022, it approved a fundraise of up to Rs 4,860 crore via a public issue of shares. However, the firm put a hold on its IPO plan then. Meanwhile, Ecom Express is also raising Rs 1,424 crore (approximately $172 million) from existing investors via right issue. Since its inception, it has scooped up more than $250 million through equity and debt. Ecom Express provides logistics services in over 2,700 towns and 27,000 pin codes in India. The firm delivered 514 million shipments in 2024 while its competitor Delhivery did 740 million during the same period. Importantly, out of 514 million shipments handled in FY24, Tier 2 cities accounted for 81.79% of the shipments while Metro and Tier 1 cities were at 10.52% and 7.69% respectively. The logistics firm reported flat revenue in the last fiscal year, but the firm managed to cut costs drastically. It posted a modest 2.1% increase in its revenue to Rs 2,609 crore in FY24 as compared to Rs 2,554 crore in FY23. Its losses shrank by 40% to Rs 256 crore in the same period.
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HDB Financial Services files draft papers with Sebi for Rs 12,500-cr IPO
YourStory
ยท
9m ago
Medial
HDB Financial Services, a subsidiary of HDFC Bank, has filed papers with SEBI to raise Rs 12,500 crore through an IPO. The proposed IPO includes a fresh issue of equity shares worth Rs 2,500 crore and an offer-for-sale of Rs 10,000 crore by HDFC Bank. The funds raised will be used to strengthen its capital base and support future lending needs. The decision to list follows RBI's mandate for NBFCs to list within three years. HDB Financial Services will remain a subsidiary of HDFC Bank after the IPO. A dozen book-running lead managers have been appointed for the IPO.
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Workplace solutions provider IndiQube files DRHP, eyes Rs 850 Cr IPO
YourStory
ยท
7m ago
Medial
IndiQube, a workplace solutions company, has filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) to raise funds. The IPO will consist of a fresh issue of equity shares worth up to Rs 750 crore and an offer for sale of equity shares worth up to Rs 100 crore by the promoters. The company plans to use the funds for establishing new centres and repaying borrowings. IndiQube currently manages around 103 centres across 13 cities and has a diverse clientele. The IPO filing comes amid the growing trend of flexible workspaces in the commercial office market.
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Promoters pump Rs 23,000 crore in 5 Adani Group companies in June quarter
Money Control
ยท
1y ago
Medial
Promoters of five Adani Group firms, namely Adani Energy Solutions, Adani Enterprises, Ambuja Cement, Adani Power, and Adani Green Energy, increased their holdings by over Rs 23,000 crore in the June quarter, according to the latest shareholding data. Promoters of Ambuja Cement raised their stake by 3.59 percentage points, while Adani Green Energy saw its promoter holding increase by 1.15 percentage points. In contrast, foreign investors significantly reduced their holdings in several Adani Group companies during the same quarter. Adani Ports and SEZ, however, saw a slight increase in foreign institutional investor stake.
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Metropolitan Stock Exchange to raise Rs 238 Cr from Groww promoters, Nithin Kamath's Rainmatter, others
YourStory
ยท
7m ago
Medial
The Metropolitan Stock Exchange of India (MSE) is raising Rs 238 crore from investors including BillionBrains Garage Ventures, Rainmatter Investments, Share India Securities, and Securocorp Securities India. The board of the exchange has approved the issuance of equity shares at Rs 2 per share. Share India Securities will invest Rs 59.5 crore for a 4.958% stake in MSE. The exchange has faced challenges in competing with larger exchanges like NSE and BSE, but hopes the funds will help revive its operations. In FY24, MSE's turnover was Rs 7.36 crore, down from Rs 9.21 crore in FY23.
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Adani to invest Rs 2.3 lakh Cr in renewable energy, manufacturing capacity
YourStory
ยท
1y ago
Medial
Adani Group plans to invest Rs 2.3 lakh crore by 2030 in India's largest renewable energy project. Adani Green Energy Ltd (AGEL) aims to expand solar and wind power capacity to 30 gigawatts in Khavda, Gujarat, and establish additional projects nationwide. Additionally, Adani New Industries Ltd (ANIL) will increase solar cell and wind turbine production in Mundra. This move marks a significant stride in India's renewable energy sector.
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