Page 2 - Rights Issue

Govt plans to ask ONGC to consider $1.9 billion rights issue to fund HPCL

The comments come after India's finance minister announced a plan this year to provide equity of 300 billion rupees ($3.6 billion) to help the big state oil refiners move towards cleaner energy

Grasim Industries to raise Rs 4,000 crore through rights issue of shares

The fund raise comes a month after of the textile-to-chemicals maker announced plans to enter the paint business under the brand name 'Birla Opus' in the fourth-quarter of fiscal 2024

PharmEasy to raise Rs 2,400 cr, Manipal Group likely to invest Rs 1,000 cr

The fundraising will be done via a rights issue where the stock will be sold at a 90 per cent discount at Rs 5 per share

Bharat Petroleum Corporation to raise Rs 18,000 cr via rights issue

State-owned Bharat Petroleum Corporation Ltd (BPCL) on Wednesday said it will raise up to Rs 18,000 crore through an issue of equity shares on a rights basis to fund its net zero carbon emission projects. The government, which is the majority owner of the company, is likely to subscribe to the rights issue and infuse equity in the company. This as per the Budget announcement will provide Rs 35,000 crore of capital support to state-run fuel retailers -- BPCL, Indian Oil Corporation (IOC), and Hindustan Petroleum Corporation Ltd (HPCL) -- to support their energy transition and net zero initiatives. IOC and HPCL are likely to come up with similar schemes to get government capital. In a stock exchange filing, BPCL said its board at a meeting held on Wednesday "approved the proposal for raising capital up to an amount not exceeding Rs 18,000 crore. This capital will be raised by way of issue of equity shares on rights issue basis to eligible equity shareholders of the corporation as on t

IND Renewable Energy board approves Rs 26 cr fundraising via rights issue

IND Renewable Energy Ltd on Wednesday said it is planning to raise Rs 26 crore through a rights issue. A decision in this regard was taken at a meeting of its board members, IND Renewable Energy Ltd said in a regulatory statement. "This is in modification of our earlier communication where we had conveyed the proposal approved by the board to raise the fund up to Rs 15,00,00,000. We wish to inform you that the Board of Directors of the company at their meeting held today i.e. June 14, 2023, have, in principle, considered and approved the proposal to raise the fund up to Rs 26,00,00,000 by way of right issue," it said. The terms of the issue will be decided by the board later, the statement said.

Women often unable to reach out to laws meant to protect them: Judge

Despite several laws having been promulgated in the country to protect rights of women, often they are unable to reach out and take benefit of that, claimed Justice Abhijit Gangopadhyay of Calcutta HC

PNB Housing Finance's Rs 2,500 crore rights issue gets Sebi's nod

PNB Housing Finance, an arm of state-owned Punjab National Bank, has received capital markets regulator Sebi's go ahead to raise up to Rs 2,500 crore through rights issue of shares. The housing finance firm, which had filed draft papers with Sebi in December 2022 regarding the rights issue, obtained its 'observations' on March 6, which is necessary for any company to launch the issue, an update the markets regulator showed on Monday. Going by the draft papers, PNB Housing will issue fully paid-up equity shares of the company by way of a rights issue to its existing shareholders for an amount not exceeding Rs 2,500 crore. The company intends to utilise the net proceeds from the issue towards augmenting its capital base. Post the rights issue, the shareholding of Punjab National Bank (PNB) as a promoter of the company would come down from the current level of 32.53 per cent to below 30 per cent but it would be higher than 26 per cent so that the bank retains promoter status. In Marc

Centre to ask HZL to go for share swaps, warrants for $2.98 bn Vedanta deal

On January 19, the board of HZL approved the acquisition of zinc assets of THL Zinc Ventures, a subsidiary of Vedanta Ltd

Equity fundraising via QIPs, rights issues slump to lowest since 2016

Some investment bankers argued that the reason for tepid fundraising through QIPs and rights could also be due to the fact that companies this year were not in need of large capital

Indowind Energy to allot 35.8 mn shares worth Rs 43 cr under rights issue

Indowind Energy board on Tuesday approved a rights issue of 3.58 crore equity shares for Rs 43.07 crore. The right issue will be opened on January 27, 2023, and will be closed on February 10, 2023, a BSE filing showed. The board meeting held today, i.e. December 27, 2022, has inter alia considered and approved the terms of the rights issue, it added. The size of the rights issue is 3,58,96,594 fully paid-up equity shares for an amount aggregating to Rs 43,07,59,128 at an issue price of Rs 12 per piece, including a premium of Rs 2 per scrip. The record date for the issue will be January 13, 2023, (Friday) for the purpose of determining the names of the equity shareholders who would be eligible to receive the rights entitlement in the issue (Eligible Equity Shareholders). The outstanding equity shares prior to the rights issue are 8,97,41,486 equity shares while post rights issue, those would be 12,56,38,080 equity shares assuming full subscription. Two equity shares will be allott

DMRC Board approves raising of equity share capital by way of rights issue

The board of Delhi Metro Rail Corporation has approved the raising of the equity share capital of the DMRC by way of the rights issue, to be subscribed equally by both the stakeholders -- the Centre and the Delhi government. The funds raised will be to meet the liability arising out of an arbitral award of 2017 in favour of Delhi Airport Metro Express Private Ltd (DAMEPL). A rights issue is an invitation to existing shareholders to purchase additional new shares in the company. The DMRC is a 50:50 joint venture between the government of India and the Delhi government. The Supreme Court on Wednesday directed the Delhi High Court to proceed with the execution of the Rs 4,600 crore arbitration award granted in favour of DAMEPL, which had pulled out from running the Airport Express metro line over safety issues and take it to a logical end within three months. An arbitral tribunal had ruled in favour of Reliance Infra's DAMEPL and accepted its claim that running the operations on the

After SC rap, DMRC launches Rs 7,100 crore rights issue for RInfra dues

Transporter asks Centre, Delhi govt to infuse equity of Rs 3,500 crore each

Fifth year of zero SME rights issues likely after Rs 100 cr mop up in 2014

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

Rights issue: Lull after 3 stormy years, mop-up Rs 2,867 crore in CY22

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

Suzlon rights issue subscribed 90% a day ahead of close, stock up 20%

The company is issuing 2.4 billion new shares at Rs 5 apiece; proceeds will be used pare debt, which currently stands at Rs 3,272 crore

Subscription of Rs 1,200 cr rights to aid Rs 584 cr debt repayment: Suzlon

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

Ahead of rights issue, charts hint steady gains for Suzlon; 200-DMA is key

There is a bullish formation of a "Higher High, Higher Low" pattern on the daily chart, and only if the stock breaks the 200-DMA the trend could turn negative.

Shanghvi says will participate in Suzlon Energy's Rs 1,200-cr rights issue

The rights issue will open on October 11, closing on October 20

This Tata Group stock has zoomed 109% against its rights issue price

Meanwhile, the stock has surged 55 per cent against its qualified institutional placement (QIP) price of Rs 202 per share

Suzlon looks to raise Rs 1,200 cr in FY23 from rights issue, says CFO

It is looking to raise up to Rs 1,200 crore through a rights issue of shares by the fiscal-end to pare the refinanced debt of Rs 3,000 crore, its Chief Financial Officer Himanshu Mody told PTI.