Shareholders

ZEEL shareholders reject proposal to reappoint Punit Goenka as director

The shareholders of Zee Entertainment have rejected a proposal for the reappointment of Punit Goenka as director, according to a regulatory filing by the company. The filing by Zee Entertainment Enterprises Ltd (ZEEL) stated that the resolution for the reappointment of Goenka was defeated in the annual general meeting (AGM) of the company. Resolution number three in the AGM, which proposed the reappointment of Goenka as director, was supported by only 49.54 per cent of the total number of votes cast while 50.4 per cent voted against the resolution. "Resolution No. 3 (Goenka's reappointment) failed to get the requisite majority of votes as required under the provisions of the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015," ZEEL said. This is a major setback for Goenka who is currently the CEO of the company. Several proxy firms had earlier advised the shareholders to vote against resolution number three. However, the three other .

NCLT stays Aakash's EGM resolution to amend Articles of Association

The National Company Law Tribunal (NCLT) on Wednesday stayed a resolution related to amendment in the Articles of Association (AoA) of Aakash Educational Services which allegedly seeks to dilute the rights of petitioners including Singapore VII Topco I. An Extra Ordinary General Meeting (EGM) of Aakash Educational Services was scheduled to be held on Wednesday to consider and approve alteration in the AoA, which was objected to by the petitioners. " ... in the interests of justice, this Tribunal directs the Respondents No.1 to 11 (Aakash Educational Services and others) not to give effect to the resolutions, if passed, in relation to the Agenda Item No 8 in the Extra Ordinary General Meeting to be held on today i.e. 20.11.2024, till the disposal of the main Petition," said NCLT in its interim order. The Bengaluru bench of NCLT directed that the matter will be listed for the next hearing on December 19, 2024. NCLT order came over a petition filed by Singapore VII Topco I Pte Ltd and

NTPC pays Rs 2,424 crore as interim dividend to shareholders for FY25

State-owned NTPC on Monday said it has paid Rs 2,424 crore as an interim dividend to its shareholders. The company paid its first interim dividend of Rs 2,424 crore for the financial year 2024-25 on November 18, representing 25 per cent of the company's paid-up equity share capital, NTPC said in a statement. NTPC CMD Gurdeep Singh, along with the Board of Directors of the company, presented the "payment advice of Rs 1,238.84 crore, representing the government's share to the Minister of Power Manohar Lal, Power Secretary Pankaj Agarwal", it added. On October 24, the Board of Directors of NTPC approved the first interim dividend of Rs 2.50 on the face value of shares of Rs 10 each for the financial year 2024-25. This marks the 32nd consecutive year that NTPC has distributed dividends to its shareholders. In a separate statement, NTPC said it is setting up a plant at Simhadri in Andhra Pradesh to produce green hydrogen from seawater. "For seawater processing, NTPC has implemented an

Pantomath's Bharat Value Fund invests Rs 235 crore in Haldiram Bhujiawala

Haldiram Bhujiawala, which retails its products under the brand 'Prabhuji,' has been a prominent player in the snacks and savoury industry for six decades

'Naked greed': Zoho's Sridhar Vembu blasts rival Freshworks for layoffs

Freshworks 'should not expect any loyalty from employees ever', he says

Reliance Power gets shareholders' nod to raise Rs 1,525 cr via shares

Reliance Power said it has received shareholders' approval to raise Rs 1,524.60 crore through issuance of preferential shares. A resolution through a postal ballot notice has been passed with requisite majority, the company said in a late night stock exchange filing on Wednesday. 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 at a price of Rs 33 per apiece. On September 23, the board of Reliance Power Ltd had approved raising Rs 1,524.60 crore through issue of preferential shares, wherein promoters will infuse 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 Financial Advisory ...

Oberoi Realty's board approves proposal to raise up to Rs 6,000 cr

Company acquired Nirmal Lifestyle Realty Private under the Insolvency and Bankruptcy Code in August

Seven & i to start majority stake sale in supermarkets by year-end: Nikkei

Seven & i has been under pressure from investor ValueAct Capital in recent years to improve its asset allocation and has sold down stakes in other lower-performing assets

Tata Sons rules out IPO plans despite push from shareholder SP group

Holding co prepays Rs 21,813 crore debt in FY 2024 to declassify itself as NBFC upper layer

Peak XV Partners, 4 others sell stake worth Rs 1,601 cr in Honasa Consumer

Peak XV Partners (formerly Sequoia Capital India & SEA), and four others on Thursday divested a 10 per cent stake in Honasa Consumer, which owns Mamaearth brand, for Rs 1,601 crore through open market transactions, while ICICI Prudential Life Insurance and Morgan Stanley acquired stakes in the company. Peak XV Partners through its arm Peak XV Partners Investments VI, Fireside Ventures through its affiliate Fireside Ventures Investment Fund I, Sequoia Capital Global Growth Fund III-US/ India Annex Fund, Sofina and Stellaris Venture Partners India I sold more than 3.23 crore shares or 10 per cent stake in Honasa Consumer, as per the data. According to the bulk deal data available on the National Stock Exchange (NSE), Peak XV Partners sold over 1.23 crore shares or 3.81 per cent stake in Honasa Consumer and Fireside Ventures offloaded 65.83 lakh shares or 2.03 per cent stake in Gurugram-based company. In addition, Brussels-headquartered Sofina Ventures SA divested 60.15 lakh shares ..

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)

NHPC secures shareholders nod to hike borrowing limit to Rs 50,000 cr

State-owned NHPC has received shareholders nod to raise its borrowing limit to Rs 50,000 crore in its annual general meeting held on Wednesday. "All resolutions set out in the notice of 48th AGM were duly approved by shareholders with requisite majority," the company said in a regulatory filing. The proposal to increase the borrowing limit from Rs 40,000 crore to Rs 50,000 crore got the 99.99 per cent votes, the filing said. The tentative debt requirement for both ongoing projects and new projects up to FY 2032-33 as per CAPEX requirements will be approx Rs 80,000 crore, which will exceed paid-up share capital, free reserves and securities premium of the company, it said.

SpiceJet Promoter Ajay Singh to dilute over 10% stake to raise Rs 3,000 cr

After the fundraising, Ajay Singh's shareholding in SpiceJet may drop to 30-35% from 47.8%

CVC Capital makes open offer to acquire 26% more stake in Aavas Financiers

The open offer was made after CVC Capital acquired 26.47 per cent stake in the company from existing shareholders, Kedaara Capital, and Partners Group

ZEE Entertainment shareholders approve plan to raise Rs 2,000 crore

Zee Entertainment shareholders have approved a plan to raise Rs 2,000 crore from the market through various routes, including issuing equity shares and qualified institutions placements (QIPs). The special resolution for "issuance of securities for an amount not exceeding Rs 2,000 crore" was passed by 78.83 per cent of the total polled votes, according to a scrutiniser report filed by Zee. "The shareholders of the company have duly passed the resolution for issuance of securities for an amount not exceeding Rs 2,000 crore with requisite majority," the regulatory filing said. The remote e-voting period for this special resolution commenced on Sunday and ended on Monday, July 15, 2024, at 5 pm. Zee Entertainment Enterprise Ltd (ZEEL) plans to raise in one or more tranches through a private placement, a qualified institutional placement, a preferential issue or a combination of them. Though the company has not specified how it plans to invest the amount, experts expect a portion of t

Raymond shareholders approve reappointment of Gautam Singhania as MD

Textiles and fabric manufacturer Raymond Ltd on Thursday said its shareholders have approved the reappointment of Gautam Hari Singhania as Managing Director for five years effective from July 1, 2024, along with his proposed remuneration. The shareholders of the company at their Annual General Meeting (AGM) held today (June 27) have approved the re-appointment of Singhania," Raymond Ltd said in a regulatory filing. Proxy advisory firm, IiAS had asked shareholders of Raymond to vote against the reappointment of Chairman & Managing Director Gautam Singhania on the board of the company. IiAS had called for an independent investigation into the accusations of domestic violence and misappropriation of funds raised by his estranged wife Nawaz Modi by the board of the company. Moreover, it has also called for Singhania and Nawaz Modi to step off the board of Raymond until the divorce-related issues are settled and the results of an independent investigation are received. Besides, IiAS

Related-party transactions: Rs 2.68 trn awaits shareholder nod next week

Tata Motors, similarly, will put proposed RPTs worth upwards of Rs 89,000 crore to a shareholder vote the same day

Orient Green Power eyeing to raise authorised share capital to Rs 2,500 cr

Orient Green Power will seek shareholders' approval to raise its authorised share capital to Rs 2,500 crore from the existing Rs 1,600 crore in its annual general meeting later this month. The proposal to raise the authorised share capital is listed on the agenda of the annual general meeting scheduled on June 28, 2024, the notice of the AGM stated on Thursday. The notice informed that to undertake a capital raising activity in the future and for other business requirements that arise from time to time, it is proposed to increase the authorised share capital from Rs 1,600 crore to Rs 2,500 crore. The increase in authorised share capital of the company and alteration of Clause V of the Memorandum of Association are subject to the approval of members of the company by way of passing an ordinary resolution in terms of Sections 13, 61 and 64 and other applicable provisions of the Companies Act, 2013, as well as any other applicable statutory and regulatory approvals, it added. The comp

Adani Energy Solutions seeks shareholders' nod to raise Rs 12,500 crore

Adani Energy Solutions will seek shareholders' approval to raise Rs 12,500 crore in its annual general meeting on June 25. The company is looking to raise funds by way of qualified institutions placement (QIP) to eligible investors through issuance of equity shares and/or other eligible securities. The board of Adani Energy Solutions on Monday approved the proposal to raise up to Rs 12,500 crore through issue of equity shares on QIP basis or other modes. According to the notice for the AGM, the company will seek the approval of the shareholders at the ensuing annual general meeting scheduled to be held on June 25, 2024. The company will also seeks shareholders' approval of a resolution to appoint a director in place of Gautam Adani, who retires by rotation and being eligible offers himself for re-appointment. The board of directors had approved the raising of funds by way of issuance of such number of equity shares having a face value of Rs 10 each and/or other eligible securities

Musk offers factory tours to investors as he seeks support for pay package

The company is making an unusual and public effort to rally support for Musk's pay