State Bank of India (SBI) announced that the central board at a meeting held on 27 December 2017 accorded approval to raise additional tier 1 capital by way of issuance of Basel III compliant debt instrument in dollars and/or in rupees to the tune of Rs 8000 crore from domestic/international market including masala bonds (rupee denominated) till 31 March 2017. The announcement was made after market hours yesterday, 27 December 2017.
United Bank of India said it raised Rs 100 crore by issuing Basel III compliant bonds on a private placement basis. The bank has concluded issuance and allotment of 1,000 units of 11% unsecured, subordinated, fully paid-up, non-convertible, listed, Basel III compliant, perpetual debt instruments in the nature of debentures aggregating to Rs 100 crore on private placement basis, the bank said in a regulatory filing. United Bank said the money raised will be included as additional tier-1 capital. The announcement was made after market hours yesterday, 27 December 2017.
Maruti Suzuki India (MSIL) entered into an agreement with the Government of NCT of Delhi to set up state-of-the-art automated driving test centres across 12 locations in the city. A memorandum of agreement (MoA) was signed between the Department of Transport, NCT of Delhi and MSIL. As per the MoA, MSIL will set up automated driving test centres comprising scientifically laid driving test tracks, advanced high definition cameras and an integrated IT system, as approved by the Transport Department. The announcement was made after market hours yesterday, 27 December 2017.
Star Cement, alongwith its subsidiary Star Cement Meghalaya, received Rs 158.82 crore towards capital investment subsidy claims from the Central Government and this amount has been utilized towards repayment of loans. The announcement was made after market hours yesterday, 27 December 2017.
Kolte-Patil Developers announced that global investment firm KKR has committed Rs 193 crore in Kolte-PatiI I-Ven Townships (Pune), a joint venture of Kolte-Patil and ICICI Venture Funds Management Company. Kolte-PatiI I-Ven Townships is developing Life Republic, a 383-acre township located in Pune's IT hub, Hinjewadi. KPIT will utilise the funds from this investment to attain financial closure at R1 sector of Life Republic, meeting working capital requirements and reducing cost of outstanding debt attributable to the development. The announcement was made after market hours yesterday, 27 December 2017.
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