Reliance Industries (RIL) said it will make an offer for issuing non-convertible debentures (NCDs) worth Rs 2500 crore next week. The net proceeds of the issue will be utilised inter-alia for refinancing of existing borrowings and for any other purpose in the ordinary course of business, it said. The announcement was made after market hours yesterday, 30 August 2017.
Meanwhile, RIL said it fixed 9 September 2017 as the record date for the proposed 1:1 bonus issue of the company.
Wipro said it has fixed 15 September 2017 as the record date for the purpose of determining the entitlement and the names of equity shareholders who are eligible to participate in share buyback. The announcement was made after market hours yesterday, 30 August 2017.
The company's board on 20 July 2017, approved a proposal to buyback up to 34.37 crore shares for an aggregate amount not exceeding Rs 11000 crore.
ONGC said that its board of directors considered the proposal for acquisition of 51.11% of share of HPCL from the Government of India and given the 'in principle approval' for the same. Further, the board has constituted a committee of directors to examine various aspects of the said proposal and to provide its recommendations to the board of director. The announcement was made after market hours yesterday, 30 August 2017.
ONGC will need a bit over Rs 37000 crore to pay for government's 51.11% stake in HPCL at current market prices.
NTPC will be watched after the government received bids for 7% stake in NTPC, which will fetch about Rs 9100 crore to the exchequer. At the end of the two-day offer for sale (OFS), the government retained oversubscription it had received from institutional investors after retail investors bid for only 73% of the quota allocated for them.
The government had planned to sell over 41.22 crore shares, or 5% holding, through the two-day OFS, with an option to retain a similar portion in case of oversubscription. On the opening day on Tuesday, 29 August 2017, institutional investors bid for 46.35 crore shares against 32.98 crore shares offered to them, according to stock exchange data. Yesterday, 30 August 2017, retail investors bid for 8.45 crore shares against 11.58 crore shares on offer. The government has reportedly decided to retain oversubscription, and after adjustments a total of 7% stake was sold in the OFS, garnering Rs 9100 crore. The shares were offered at a floor price of Rs 168 each.
Biocon announced after market hours yesterday, 30 August 2017, that the US Food and Drug Administration (USFDA) has delayed by three months its decision on whether it will approve Biocon and Mylan's breast cancer biosimilar drug while it reviews additional information submitted by the companies. The approval was earlier expected on 3 September 2017.
USFDA has notified Mylan it will extend the target action date for their application of the drug, Trastuzumab, to 3 December 2017, Biocon said. This is in order to review some clarificatory information submitted to the regulator as part of the application review process, a Biocon spokesperson said. This three month extension has no impact on the anticipated timetable for commercialisation of this product in the US, Biocon added.
Biocon and Mylan have together developed the trastuzumab biosimilar, which is a copy of a complex biologic drug developed by Swiss biotech giant Roche.
Wonderla Holidays said that Wonderla Kochi has introduced India's first reverse looping roller coaster - RECOIL, which will give a whole new experience of thrill. This roller coaster is imported from the Netherlands. The announcement was made after market hours yesterday, 30 August 2017.
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