Sanghi Industries has raised ₹400.17 crore through a qualified institutional placement. The company has allotted 3.10 crore shares at ₹129 a share to qualified institutional buyers. Following the allotment, the company’s paid-up capital increased to ₹251 crore. Among the QIBs are Government Pension Fund Global (97.22 lakh shares), Nomura (54.25 lakh shares), Reliance Capital (56.98 lakh shares), Max Life Insurance (31.01 lakh shares) and RAMS equities portfolio fund (18.99 lakh shares). Shares of the cement-maker closed at ₹130.10, a gain of 1.13 per cent, over the previous day’s close on the NSE.

Bharat Forge has incorporated a subsidiary Indigenous IL Ltd in Israel. The objective of setting up this subsidiary is to explore targets in the technology space and to scout for tie-ups with universities and technology institutions to further upgrade research and developmental initiatives in various new technologies, the company said in a disclosure to the exchanges. The registered capital of Indigenous is 10 lakh shares of 1 NIS (New Israeli Shekel) each and Bharat Forge made an initial subscription of 100 shares of 1 NIS each. The stock of Bharat Forge slipped 3.4 per cent at ₹721.15 on the NSE.

Dilip Buildcon has received the Letter of Award from the National Highways Authority of India for a new hybrid annuity project under NHDP Phase V valued at ₹1,522 crore in Odisha. Shares of Dilip Buildcon closed flat at ₹947 on the NSE and at ₹945.95 on the BSE.

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