Comments
PNB fundraising plans in focus
The Board of Directors of PNB Housing Finance Limited will be held on Wednesday to consider fundraising proposals, and the mode thereof, by the issue of equity shares and/or other securities through any permissible modes, as may be regarded as appropriate, subject to such approvals as may be required.
Shareholders would be keen to know the size, price, and the number of shares to be offered.
It may be recalled, earlier, its promoter Punjab National Bank had said that it would infuse up to ₹600 crore in the housing finance company through preferential issue/rights issue etc. subject to regulatory approval as and when PNB Housing Finance decides to raise capital.
Dilip Buildcon wins ₹1,335-cr order with JV
HCC-DBL, a joint venture between HCC and Dilip Buildcon, has received a letter of acceptance (LOA) for a new Project viz. 'Construction of Tunnels, Bridges, Yard and formation works from Rail Vikas Nigam Limited for the project at Uttarakhand.
The total bid project cost is ₹1,334.95 crore and has to be completed within 50 months.
Shareholders will closely monitor the execution of the project.
Key Results: Balmer Lawrie, CSB Bank, Tide Water, Ruchi Soya
Around 20 companies' boards of directors will meet on Wednesday to consider quarterly results. Among them include, Ashapura Minechem, Asian Granito India, Balmer Lawrie, CSB Bank, Cosmo Films, Globus Spirits, IIFL Wealth Management, IZMO, Krishna Petrochem, Muthoot Finance, Ruchi Soya, Tide Water Oil, V2 Retail and Viji Finance.
Indiabulls Real Estate
The board of Indiabulls Real Estate has approved merger of two Embassy Group entities -- NAM Estates and NAM Opco into the company. Swap ratio for the merger has been fixed as 6.619 shares of Indiabulls Real Estates for every 10 shares of NAM Estates and 5.406 shares of Indiabulls Real Estates for every 10 shares of NAM Opco. Indiabulls Real Estate is valued at Rs 92.5 per share, which is at a premium of 26 per cent to Tuesday’s closing price. The combined entity to be renamed as Embassy Developments having a mix of residential and commercial properties with a total launch/planned area of 80.8 million square feet. The amalgamation is expected to be completed by the second quarter of FY22.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.