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News on Medial
Reliance Power to consider stake sale for fundraising, board meeting to be held on October 3 | Mint
Livemint
·
10m ago
Medial
Reliance Power Ltd is considering selling a stake to raise funds, according to a filing with the Bombay Stock Exchange. The company plans to raise money from the domestic or global markets through various equity offerings or a rights issue. Reliance Power aims to expand its renewable energy segment and reduce debt through the stake sale. The company's board of directors had previously approved a preferential share issue to raise INR 1,524.60 crore ($206 million) for business expansion and debt reduction purposes.
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Zomato To Consider Raising Funds Via QIP
Inc42
·
9m ago
Medial
Zomato plans to discuss fundraising through the issuance of equity shares via qualified institutional placement (QIP) during its board meeting on October 22. The foodtech company did not provide any details about the amount of funding it intends to consider. Additionally, the board will also review and approve the financials for the quarter ended September 2024 during the meeting.
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Yes Bank Shares Slide Up to 9.5% as After Multiple Block Deals Ahead of Fundraising Meet
OutlookIndia
·
2m ago
Medial
Yes Bank shares fell by up to 9.5% after a 3% equity stake was sold in multiple block deals before a fundraising board meeting, reversing a recent three-day winning streak with a 10% gain. This decline comes despite strong financials, with a 63% YoY rise in Q4FY25 net profit and reduced provisions. The bank's board is considering fundraising through equity or debt securities. Sumitomo Mitsui Banking Corporation is seeking to deepen its stake in Yes Bank.
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Reliance Infrastructure plans to raise ₹6,000 crore via share sales | Mint
Livemint
·
10m ago
Medial
Reliance Infrastructure plans to raise up to ₹6,014 crore through a share sale and convertible warrants. This comes after the company settled its arbitration dispute with Adani Group over power distribution and a loan dispute with CFM Asset Reconstruction. The company's board has approved a preferential issue to raise ₹3,014 crore and a qualified institutional placement (QIP) to raise up to ₹3,000 crore. The funds will be used for business expansion, investment in subsidiaries, and meeting long-term working capital needs. The company's net worth is expected to increase from ₹9,000 crore to over ₹12,000 crore.
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Wipro to seek shareholder nod on July 18 for reappointment of Azim Premji, Rishad Premji on board
YourStory
·
1y ago
Medial
IT company Wipro is planning to seek approval from shareholders to reappoint Azim H Premji and his son Rishad Premji on the company's board for a five-year period. The board has already approved their reappointments, with Azim Premji being a non-executive, non-independent director and Rishad Premji being designated as executive chairman. The annual general meeting will be held on July 18, 2024, to consider these appointments, along with the proposed remunerations for both individuals.
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Reliance Group’s ₹17,600 crore fundraising strategy set to offer capital for their expansion plans | Mint
Livemint
·
10m ago
Medial
- Reliance Group companies, Reliance Infrastructure Ltd and Reliance Power Ltd, are set to implement their growth strategies with a fundraising of ₹17,600 crore and zero-debt status. - The companies have recently raised ₹4,500 crore through preferential issues of equity shares and ₹7,100 crore from Varde Partners through equity-linked long-term FCCBs. - An additional ₹6,000 crore will be raised through qualified institutional placement (QIP), with each company targeting ₹3,000 crore. - Shareholder approvals are expected by the end of the month for the resolutions that are in place. - With a conservative debt-to-equity ratio of 70:30, the fundraising will provide a total investment outlay of ₹50,000 crore for future business plans over the next few years.
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Zepto plans IPO filing by March-April; Singapore nod in for moving domicile
Economic Times
·
7m ago
Medial
Zepto, a quick-commerce firm, plans to file for an IPO by March-April 2025, following Singapore's approval to relocate its holding entity to India. The National Company Law Tribunal will consider its reverse merger application in January. Zepto is also planning a board meeting to discuss IPO size and appoint bankers. Seeking a mid-2025 IPO, Zepto may adjust its initial $450 million fundraising target. It aims to be the first independent quick-commerce firm to go public.
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Nazara Bags Shareholders’ Nod To Fetch 48% Stake In Pokerbaazi’s Parent
Inc42
·
9m ago
Medial
Nazara, a leading gaming company, has received approval for acquiring a 47.7% stake in Pokerbaazi's parent company. The deal was finalized at an extraordinary general meeting held on October 12. Moonshine, the parent company, originally started with online poker but has since expanded into card games, fantasy sports, and spectator gaming. The acquisition is valued at INR 181.5 Cr and solidifies Nazara's position in the gaming industry.
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Gensol promoters sell 2.37% stake after 70% stock plunge, plan equity infusion
Business Today
·
5m ago
Medial
Promoters of Gensol Engineering sold 2.37% of their stake after the stock plunged by 70% and plan to infuse equity. Upcoming board meetings aim to discuss a stock split and fundraising options, including equity issuance. Gensol’s loan facilities were downgraded by ICRA and CARE, and Ankit Jain was replaced by Jabirmahendi Mohammedraza Aga as CFO. The promoter’s stake now stands at 59.70%, with the sale intended for reinvestment into the business.
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Vodafone Idea shareholders approve ₹20,000 crore fundraising plans
Livemint
·
1y ago
Medial
Vodafone Idea Limited (VIL) held an Extraordinary General Meeting (EGM) seeking shareholder approval for fundraising up to ₹20,000 crore ($2.4 billion) in securities. The meeting aimed to alleviate the telecom operator's financial struggles and improve its network infrastructure and invest in new technologies. VIL is facing a significant debt burden and loss of subscribers.
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Warren Buffett’s Berkshire Hathaway almost halves stake in PC maker HP
Livemint
·
1y ago
Medial
Berkshire Hathaway, Warren Buffett's firm, has reduced its stake in HP Inc. by almost half. The company held around 51.5 million shares on November 30, down from approximately 97.85 million shares on October 3. This marks Berkshire's second consecutive quarter as a seller in HP. HP's stock has underperformed Dell Technologies this year due to decreased demand for personal computers during the pandemic. Berkshire's stake in HP is currently valued at around $1.56 billion.
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