Adani Enterprises on Wednesday said it has decided not to go ahead with its ₹20,000-crore follow-on public offer (FPO) and will return the proceeds to investors.

The announcement comes a day after the company’s FPO was subscribed fully on the last day of the offer on Tuesday.

IDFC Ltd said on Wednesday that it is investing ₹2,200 crore in IDFC First Bank to increase its stake in the bank to 40 per cent from 36.38 per cent currently.

This is expected to provide growth capital for the bank, the company said in a statement. Further, the IDFC Board has declared a special interim dividend of ₹11 a share.

Life Insurance Corporation of India has informed the exchanges that Raj Kumar has ceased to be the Managing Director of the Corporation, with effect from January 31 upon the expiry of his extended service and term beyond superannuation.

Under Brightcom’s HyGrowth Model (Hybrid Growth Model), Brightcom and Consumable, Inc, USA, signed a definitive agreement to form a joint venture to offer audio advertising solutions. The transaction is expected to significantly benefit Brightcom‘s standalone (parent) numbers while offering a capital-light growth model for the group.

Following the approval from NCLT for its scheme of arrangement between Bharti Airtel and its wholly owned subsidiaries, Nettle Infrastructure Investments Limited and Telesonic Networks Limited, both have been amalgamated with the company from February 1.

RailTel Corporation of India Ltd has received the work order from the State Bank of India for the provisioning of 4G LTE connectivity for offsite 15,000 ATMs and maintenance for five years amounting to ₹253.35 crore.