Rights Issuances

Tata Consumer Products Ltd on Monday said it has closed its rights issue of Rs 3,000 crore. The company had opened the issue on August 5, Tata Consumer Products Ltd (TCPL) said in a regulatory filing. The meeting of the capital raising committee of the board of the company held on July 23, 2024, approved the terms of the issuance of equity shares face value of Re 1 each by way of rights issue for an amount aggregating up to Rs 2,997.77 crore, it added. "The issue opened on Monday, August 5, 2024 at 9 am and closed today (Monday), August 19, 2024 at 5 pm," the filing said. In January this year, the company's board had approved a fundraising proposal of Rs 3,500 crore, which was meant to be utilised for the acquisitions of stakes in Capital Foods Pvt Ltd and Organic India Pvt Ltd. The company had stated that raising of funds by way of issue of equity shares of face value Re 1 each would not exceed Rs 3,000 crore.

IIFL Finance on Wednesday said it has raised Rs 1,271 crore through a rights issue as part of efforts to raise capital to fund business growth. The decision to raise capital through a rights issue was made following the RBI's ban on March 4, which prohibited the NBFC firm from disbursing gold loans due to supervisory concerns. The rights issue opened on April 30, 2024, and closed today, IIFL Finance said in a regulatory filing. The rights issue offering 4,23,94,270 shares of IIFL Finance has been oversubscribed by 135 per cent (5,72,03,080 shares), as per data available on exchanges. The rights issue was offered to the existing shareholders at Rs 300 per share in the ratio of one share for every nine shares held. Promoters Nirmal Jain and R Venkataraman and family have fully subscribed to their shares since the issue is oversubscribed. Besides, Indian-Canadian billionaire Prem Watsa-backed Fairfax India, which is the largest institutional shareholder has also participated in the

Year 2017 first with nil funds raised; experts say easier routes of raising capital such as QIP driving down popularity of rights

Mop-up Rs 2,867 cr in CY22, as against Rs 25,335 cr in same period last yr

Suzlon Energy would be able to pare its debt by Rs 583.5 crore with full subscription of its Rs 1,200 crore rights issue which opened on Tuesday, the company said. "Rs 583.5 crore debt will be repaid with the assumption of full subscription of Rs 1,200 crore rights issue opened on Tuesday," Suzlon Group Chief Financial Officer Himanshu Mody said in a virtual press conference. He said the total debt of the company was Rs 3,200 crore as of June quarter 2022-23 and the company would be able to repay the remaining debt in the next eight years. Mody emphasised that the company would have much leaner, healthier and better balance sheet after the issue and there will be no decline in the promoters' holding after the issue. About an earlier instance of decline in promoter holding, he said it happened due to conversion of certain bonds (debt) into equity (under the debt restructuring plan). Earlier this month, Suzlon Energy had said its promoters had reconfirmed their participation in the

Issuance of show cause notices as a proportion of investigations has declined in 2018-19

The bank's capital adequacy ratio fell below 13% in the March quarter and capital raised via the rights issue is expected to boost it by 50 bps

Reliance Industries Ltd's Rs 53,124 crore rights issue, which has already been oversubscribed, on Tuesday received further bids for 8.8 crore

The rights issue closes on June 3. Shares of RIL closed at Rs 1,520 on Monday

Reliance Industries' mega rights issue was the first time the platform was tested

The partly paid up shares may trade at some discount in the interim

In a corporate presentation titled 'New Reliance for a New India', released on Friday, RIL termed itself as the best proxy for India's consumption-driven and tech-propelled growth story.

So far this year, 10 listed companies have mobilised Rs 1,913 crore compared with Rs 12,568 crore last year

So far this year, ten issues raised Rs 1,913 cr, 15% of the amount raised in 2015