AXIS Bank said it proposes to raise funds by issuing unsecured redeemable non-convertible subordinated debentures (Basel- III compliant Tier II debentures) (Series - 25) of the face value of Rs 10 lakh each for cash at par aggregating to Rs 1800 crore. The board of directors of the bank will consider the proposal to issue and allot the above securities through circular resolution. The announcement was made after market hours yesterday, 21 November 2016.
On a consolidated basis, Sobha's net profit fell 1.03% to Rs 38.40 crore on 8.36% increase in total income to Rs 552.20 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 21 November 2016.
Real estate developer Brigade Enterprises said it launched the country's first real estate focused accelerator program. The accelerator will mentor startups whose products or services can be used in the real estate industry across various domains be it Residential, Office, Retail or Hospitality. The sectors in focus are Internet of Things (loT), nano technology, cleantech & renewables, visual computing such as augmented reality and virtual reality and logistics. Solutions can be applicable n either B2B or B2C models. The announcement was made after market hours yesterday, 21 November 2016.
Muthoot Capital Services said that Crisil has downgraded its rating on the debt instruments and bank facilities to 'Crisil A-/FA-/Stable' from 'Crisil A/FA/Stable'; the rating on the short-term debt has been reaffirmed at 'Crisil A1'. The downgrade is primarily on account of downgrade in ratings on the bank facilities and debt instruments of Muthoot Fincorp (MFL). MFL is a flagship company of the group. The announcement was made after market hours yesterday, 21 November 2016.
Indian Hotels Company said that its board of directors has decided to convene an extraordinary general meeting (EGM) to pass an ordinary resolution for removal of C. P. Mistry as director of the company. The EGM will be held on 20 December 2016. The announcement was made after market hours yesterday, 21 November 2016.
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