Shareholder

SBI Mutual Fund hikes 2.85% stake for Rs 900 cr in KPR Mill, now holds 7.7%

SBI Mutual Fund on Wednesday hiked its stake in KPR Mill to 7.74 per cent by snapping up additional 2.85 per cent shares worth over Rs 900 crore through an open market transaction. According to the bulk deal data on the BSE, SBI Mutual Fund bought 97.35 lakh shares or 2.85 per cent stake in apparel manufacturing company KPR Mill. The shares were picked up at an average price of Rs 925 apiece, taking the transaction value to Rs 900.54 crore. After the stake buy, SBI Mutual Fund's holding in KPR Mill has been increased to 7.74 per cent from 4.89 per cent. Details of the other buyers of KPR Mill's shares could not be identified on the BSE. Meanwhile, KP Ramasamy, one of the promoters of KPR Mill sold 1.05 crore shares or 3.07 per cent stake in the company at an average price of Rs 925.12 apiece. This took the deal value to Rs 971.38 crore. After the transaction, KP Ramasamy's stake has come down to 18.3 per cent from 21.37 per cent. Additionally, the combined stakeholding of promot

RPower seeks shareholders' nod to raise Rs 1,525 cr via preferential issue

Reliance Power will seek shareholders' approval to raise Rs 1,524.60 crore through a preferential issue. According to the postal ballot notice, the company will raise up to Rs 1,524.60 crore by preferential issue of up to 46.20 crore equity shares and/or warrants convertible into equivalent number of equity shares of the company at a price of Rs 33 per share/warrant. The e-voting period that commenced earlier on Tuesday, will end on Wednesday, October 23, 2024. The result of the postal ballot will be announced on or before on Friday, October 25, 2024. On September 23, the board of Reliance Power Ltd had approved raising Rs 1,524.60 crore through a preferential issue where promoters will pour Rs 600 crore into the company to advance its business. Reliance Infrastructure, the promoter of the company, will enhance its equity stake by over Rs 600 crore. The other investors who will participate in the preferential issue include Authum Investment and Infrastructure Ltd and Sanatan Finan

Sebi exempts SHPL from making open offer for SpiceJet shareholders

Markets regulator Sebi has exempted Spice Healthcare Pvt Ltd from making an open offer to SpiceJet shareholders in relation to acquisition of additional shares in the airline. On conversion of warrants that were issued to it, Spice Healthcare, a promoter group entity, would be acquiring an additional 13,14,08,514 equity shares in the airline. In this regard, SpiceJet had sought an exemption from Sebi with respect to making an open offer for the shareholders of the airline. The Securities and Exchange Board of India (Sebi), through an order on Friday, has given the exemption from making the open offer to Spice Healthcare subject to certain conditions, the airline said in a filing to BSE on Saturday. Post conversion of the warrants, Spice Healthcare will have an additional 13.74 per cent stake in the airline and that would trigger the open offer requirement under Sebi norms. The watchdog has given the exemption subject to the condition that the shares acquired by the entity on exerc

Bina Modi reappointed as Godfrey Phillips India MD; Charu Modi named ED

Bina Modi's daughter Charu Modi has been appointed as the Executive Director of the company with 87% approval

Seven & I shareholder urges company for negotiations with Couche-Tard

he Canadian operator of Circle K hasn't disclosed terms or a price for its proposed buyout of Seven & i, which currently has a market value of 5.47 trillion yen ($37 billion)

Govt extends minimum public shareholding deadline for PSUs till Aug 2026

Public sector banks, financial institutions too must increase their public shareholding to at least 25%

LIC's residual stake value surges in top groups on stock market boom

Value of investments in top conglomerates at Rs 4.39 trn, up 37.5%

Torrent Power seeks shareholders nod to raise up to Rs 5,000 cr via equity

Torrent Power on Friday said it will seek shareholders' approval to raise up to Rs 5,000 crore through equity shares. The approval will be sought in the annual general meeting scheduled on July 30, 2024. In a notice, the company said there is an ongoing requirement of working capital and capex for upgradation/ expansion of the company's power generation, distribution businesses and ongoing projects. The generation of internal funds may not be adequate to meet all the requirements of the company's growth plans, it stated, adding that the requirement of funds is proposed to be met from both equity and debt from issuance of appropriate securities and from both domestic and international markets. The company's board, in a meeting held on May 22, 2024, recommended to the members to give their consent to raise up to Rs 5,000 crore through the issuance of equity shares and/ or Foreign Currency Convertible Bonds (FCCBs) and/ or convertible bonds/ debentures or any equity-linked instrument/

Schneider Electric Infra seeks nod to raise borrowing limit to Rs 900 cr

Schneider Electric Infrastructure will seek shareholders' approval to raise its total borrowing limit to Rs 900 crore from the existing Rs 550 crore through postal ballots. The e-voting for postal ballot will start at 9 am on Thursday and end at 5 pm on Friday, as per a BSE filing. The filing explained that the members, vide a special resolution passed through postal ballot on June 21, 2020, approved and authorised the board with the total borrowing limits up to Rs 550 crore. With an objective to have a scope for restructuring the financing avenues between external banks and intercompany loans with a headroom for future requirements to support business operations and working capital, the approval to increase borrowing limits is sought from the shareholders, it said. The company has proposed to enhance the borrowing limits, in excess of the aggregate of its paid-up share capital, free reserves and securities premium as per the latest annual audited financial statements, from the ...

Tata Steel fixes Jan 19 as record date to allot shares to TCIL shareholders

Tata Steel has fixed January 19 as the record date to determine the shareholders of TCIL, for allocating the company's shares as per the scheme of amalgamation. Tata Steel is in the process of merging several of its subsidiary companies, including Tinplate Company of India Limited (TCIL), into itself. "The Board has approved Friday, January 19, 2024, as the record date for the purpose of determining the shareholders of TCIL who shall be entitled to receive fully paid-up ordinary equity shares of the company in the share exchange ratio as per the scheme of amalgamation," Tata Steel said in a BSE filing on Monday. The company will issue and allot fully paid-up equity shares to those shareholders of TCIL, whose names would appear in the register of members on the record date, in ratio of 33 fully paid-up equity shares of Re 1 each for every 10 fully paid-up shares of Rs 10 each held by such members in TCIL, it said. Tata Steel is among the top three steel-producing companies in India

Record buyback of Rs 47,810 cr by 48 firms in 2023, highest in 6 yrs

A buyback is a process a company employs to repurchase its shares from stakeholders

Voting matters: Shareholder dissent is moderating, says PRIME Database

The data-tracking firm analysed resolutions voted on during AGMs, EGMs, and court-convened meetings between April 1 and September 30, 2023

Dividends triumph over buybacks despite potential for higher tax payouts

Share of buybacks in reward kitty drops to lowest in seven years

InGovern seeks deferment of two resolutions floated by Finolex Cables

Says corrigendum notice not issued 21 days prior to AGM

IDFC First Bank's MD and CEO V Vaidyanathan to raise stake in bank

GQG Partners acquires shares of IDFC First Bank through block deal

REC gets shareholders' nod to hike overall borrowing limit to Rs 6 trn

State-owned REC Ltd has received shareholders' approval to increase the overall borrowing limit of the company from Rs 4.5 lakh crore to Rs six lakh crore in its 54th annual general meeting held on Wednesday. "All the resolutions as set out in the Notice of 54th AGM, including addendum thereof, have been duly approved & passed by the shareholders with requisite majority," a BSE filing said. The 54th AGM of REC Ltd was held on September 6, 2023. The special resolution to increase the borrowing limit of the REC from Rs 4.5 lakh crore to Rs six lakh crore was listed in the agenda of the AGM. Besides, the shareholders also approved a special resolution for raising funds through private placement of unsecured/secured non-convertible bonds/ debentures up to Rs 1,05,000 crore in one or more tranches till September 5, 2024.

'It's a good thing': Why BAT sees value in holding on to ITC stake

Working with Indian cigarette maker for new nicotine product would be 'massive opportunity', says BAT CEO

Jack Ma-backed Ant to buy back shares at 70% lower valuation than at IPO

The limited partners also committed to retaining the two dividends in 2022 with Hangzhou Junhan and Hangzhou Junao to enhance the operation's capital strength

NDTV's shareholders approve appointments of new directors on board

Shareholders of the Adani-group-controlled NDTV have approved the proposals to appoint new directors to the board after Adani Group acquired the media firm. All special resolutions regarding the appointment of - Sanjay Pugalia and Senthil Sinniah Chengalvarayan - as directors, and U K Sinha and Dipali B Goenka as independent directors have got shareholders' nod through the e-voting process. Besides, another special resolution for approval of remuneration payable to Non-Executive Directors, including Independent Directors of the Company, was also approved, said the details of the voting results and scrutiniser's report on the postal ballot shared by NDTV to bourses. The e-voting period commenced on May 27, 2023, and ended on June 25, 2023. Meanwhile, NDTV's board has also approved the appointment of former bureaucrat Dinesh Kumar Mittal as an Additional Director in the capacity of Non-Executive Independent Director of the Company, subject to the approval of the Ministry of Informat

GE T&D India gets shareholders' nod to appoint Sandeep Zandaria as MD, CEO

GE T&D India has got shareholders' approval through a postal ballot notice to appoint Sandeep Zanzaria as Managing Director and Chief Executive Officer of the company. "All the resolutions as set out in the Notice of the Postal Ballot dated April 17, 2023, have been passed by the shareholders with the requisite majority," a BSE filing stated. The shareholders have passed two resolutions, firstly they approved the appointment of Zanzaria as Managing Director and Chief Executive Officer of the company. The second resolution for the appointment of Zanzaria as a Director not liable to retire by rotation was also approved by the shareholders through the postal ballot.