The board of Reliance Power has approved a proposal to raise ₹933 crore through the issuance of equity shares to VFSI Holdings. The board has approved the proposal to issue up to 60 crore equity shares and/or warrants convertible into equity shares, to VFSI Holdings Pte Limited, a foreign investor, at an issue price of ₹15.55 a share and/or warrant, aggregating to ₹933 crore, according to a BSE filing.

The Committee of Creditors (CoC) has reviewed the resolution process of the debt-riddenReliance Capital, for which the bidding process closed on August 29. IndusInd Bank, US-based asset management firm Oaktree Capital, and Torrent Group are among six bidders to acquire Reliance Capital. The 18th meeting of the CoC of the company was duly convened and conducted on Thursday in Mumbai, Reliance Capital said in a regulatory filing.

Auto components maker Samvardhana Motherson International Ltd has said it will acquire Daimler India Commercial Vehicles' (DICV) frame manufacturing and assembly operations facilities in Chennai. The company, formerly known as Motherson Sumi Systems Ltd, has signed a strategic agreement, including a long-term deal with DICV for supply of the complete frame assembly as a part of the transaction, Samvardhana Motherson International Ltd (SAMIL) said in a regulatory filing.

Brokerage Angel One (formerly Angel Broking) has added 82 per cent more retail clients or 0.44 million clients in August, taking the client base to 11.18 million. In a statement, Angel One said the average daily turnover rose 117.9 per cent to ₹12.38 lakh crore and has recorded 72.53 million orders, up 44.9 per cent in the month under review, taking the overall equity market share stood at 21.5 per cent.

Also read
Britain’s Queen Elizabeth

Queen Elizabeth II, Britain’s longest-serving monarch, dies aged 96

Day Trading Guide for September 9, 2022

Realty firm Unitech Ltdon Thursday said Niranjan Hiranandani and Anoop Kumar Mittal have resigned as non-executive nominee directors of the company with effect from August 10 and August 16, respectively. Their resignations were intimated to the Ministry of Corporate Affairs (MCA). In July, two other non-executive nominee directors Renu Sud Karnad and Balasubramanyam Sriram resigned from the company's board citing professional constraints.

PNC Infratech Limited has announced the signing of concession agreement between National Highways Authority of India and the Special Purpose Vehicle incorporated by the Company for implementation of the following Hybrid Annuity Mode (HAM) Project Package on September 8. The project is expected to completed in 24 months, upon declaration of appointed date and operated for 15 years, post construction.

Life Insurance Corporation of India has offloaded 4.46 lakh equity shares or 2.04 per cent stake in Century Enkavia open market transactions. With this, its shareholding in the company reduced to 3.45 per cent, down from 5.49 per cent.

SBC Exports Limited has announced that a work order for providing Office Support, Project Management Support and Rollout Services has been awarded to it by National Informatics Centre Services Incorporated (NICSI), New Delhi. The cost of the Work-Order is ₹57.88 lakh.

GMR Warora Energy, a stepdown subsidiary of GMR Power and Urban Infra Limited, has entered into definitive agreements with its lenders to restructure its debt by way of Resolution Plan (RP) under RBI guidelines. RP4 rating has been assigned by CRISIL and CARE Ratings to the proposed RP, which is in line with the regulatory requirements. SBI (lead bank), Axis Bank (lead bank for WC) and other lenders who signed the ICA have approved the Resolution Plan. The Resolution Plan will be effective from April 1, 2021, and will be considered implemented upon completion of the requisite actions as per RBI guidelines and the terms of the RP.

Related Topics
comment COMMENT NOW