Page 5 - Shareholders

Ambuja seeks shareholders' nod for Rs 20k-cr warrants, Adani's appintment

Ambuja Cements, which has been acquired by the Adani family, has called for an extraordinary general meeting with its shareholders on October 8. In the EGM (Extraordinary General Meeting), Ambuja Cements will seek shareholders' approval for the appointment of Gautam Adani and others on the board and a Rs 20,000 cash infusion in the company through preferential allotment of warrants. Ambuja Cements has sought approval for allotment of preferential allotment of 47.74 crore warrants at a price band of Rs 418.87 to Harmonia Trade and Investment Ltd, a promoter group entity, totalling Rs 20,001 crore in one or more tranches. The warrant holder would pay a minimum amount of Rs 104.72, around 25 per cent of the issue price at the time of subscription, and a further payment of Rs 314.15 at the time of exercise of the rights to convert in equity shares. Ambuja Cements, which also owns 50.05 per cent in ACC Ltd, has called for an EGM of the shareholders "scheduled to be held on Saturday, ...

J-K Bank shareholders reject ESOP plan, Wani's reappointment as director

Jammu & Kashmir Bank's proposal to raise capital by issuing shares to staff members under the employee stock option plan was rejected by the shareholders in the annual general meeting held in late August. In a regulatory filing on Thursday, the bank released the minutes of the 84th annual general meeting (AGM) held on August 24, 2022. The bank had proposed to issue 2 crore shares of face value of Re 1 each under J&K Bank under the J&K Bank Employee Stock Option Scheme2022 (JKB ESOS 2022) and had sought shareholders' approval at the AGM last month. The proposal sent as special resolution garnered only 0.92 per cent votes from shareholders who participated in the voting, showed the minutes of the meeting. Of the total 6,65,883,603 cast, only 6,062,264 were in favour of the proposal. Shareholders also rejected the proposal to re-appoint Dr Mohmad Ishaq Wani, to retire by rotation, as the director of the bank. Only 1.71 per cent (11,404,451 votes) of the shareholders were in ..

Banks exempt from 10% TDS on one-time loan settlements, waivers: CBDT

Issue of bonus and rights shares too will not require tax to be deducted under a section introduced in the Union Budget

Ambuja Cements, ACC receive lukewarm response from public shareholders

The response was poor as the current market price is far above the open offer price, bankers said

Mukesh Ambani makes succession clear to shareholders at Reliance AGM

Tycoon's three children, Akash, Isha and Anant, to lead separate business

InterGlobe Aviation shareholders approve appointment of three directors

Shareholders of InterGlobe Aviation have approved the appointment of three directors and re-appointment of Anil Parashar as a director. At the annual general meeting of the company, the parent of the country's largest airline IndiGo, gave their nod for the appointment of Air Chief Marshal (Retd) Birender Singh Dhanoa and former Shell India chairman Vikram Singh Mehta as independent directors. Former Sebi chief Meleveetil Damodaran has been appointed as a non-independent non-executive director while Anil Parashar has been re-appointed as a director, according to a regulatory filing on Friday. In the three months ended June 2022, the company posted a loss of Rs 1,064 crore.

RBL Bank's board approves raising Rs 3,000 crore to fund business growth

RBL Bank on Monday said its board has approved raising up to Rs 3,000 crore to fund the lender's business growth. The fund raising will be subject to the approval of the shareholders, the bank said in a regulatory filing. Besides, the board has approved issuance of 1.75 crore additional equity stock options exercisable into equivalent number of equity shares fully paid up of Rs 10 each, in addition to residual/remaining options which remain ungranted under ESOP 2018. As per the filing, the bank's board also cleared the appointment of two independent directors -- Gopal Jain, Managing Partner and Founder Gaja Capital, and Sivakumar Gopalan, Faculty of the Department of Computer Science and Engineering, IIT Bombay.

Samvardhana Motherson shares rises 3% post bonus shares issue announcement

The company has decided to issue bonus shares in the ratio of 1 bonus equity share against 2 existing equity shares, which will be subject to shareholders approval.

Why shareholders need to be good stewards

Shareholders are collectively responsible for driving business and must learn to be good stewards

Airtel gets shareholders' nod for re-appointment of Gopal Vittal as MD

Over 97% of total votes polled were in favour of the resolution, and the same "has been passed with requisite majority", the telco said in a regulatory filing on the outcome of its AGM

HSBC overstated Asia spinoff risks, thinks top shareholder Ping An: Report

Ping An believes a spin-off would generate an additional $25 bn-$35 bn in market value and release over $8 bn in capital

Dhanlaxmi Bank's Rs 127-cr rights issue hits fresh roadblock at boardroom

Lender was aiming to raise Rs 127 crore for growth plans

GAIL to double share capital; add specialty chemicals, clean energy to biz

GAIL has sought shareholder approval to increase authorised share capital of the company to Rs 10,000 cr from current Rs 5,000 cr to help raise finance for its expansion plans over the next 3-4 years

NTPC seeks shareholders' nod to raise up to Rs 12,000 cr via bonds

The funds to be raised in one or more tranches (not exceeding 12) through private placement will be used as capital expenditure, working capital and for general corporate purposes

Vote against reappointment of Harsh Mariwala: SES to Marico's shareholders

Seeks approval for revision in remuneration payable to Marico's cost auditors

Rs 8,900-cr fundraise plan: Yes Bank to convene shareholders meet on Aug 24

"The bank is well poised to capitalise on the growth opportunities and further enhance its positioning in the India banking space," it added.

Torrent Power to seek shareholders approval for raising Rs 2,000 cr

Company seeks the Members' approval for issuance of NCDs upto an aggregate amount of Rs 2,000 crore, within overall approved borrowing limit of the Company as a Special Resolution, stated AGM notice.

UCO Bank gets nod to raise equity capital by issuing up to 1 bn shares

The bank would raise equity capital at appropriate time in the current fiscal to support growth, according to a regulatory filing on Tuesday.

Shriram Transport Finance gets shareholders' approval for merger with SCUF

Shriram Transport Finance, which is part of the Shriram Group, now awaits approval from Shriram City Union Finance shareholders and creditors and NCLT, CCI and Irdai

Britannia Industries' shareholders reject Rs 5,000 cr investment proposal

Britannia Industries' shareholders have voted against a resolution to authorise the board to make investments, give loans and provide guarantees of up to Rs 5,000 crore in the AGM concluded last week