Realty firm Prestige Estates Projects Ltd has raised Rs 5,000 croret through Qualified Institutional Placement (QIP). The board has approved the allocation of 2,98,68,578 equity shares at an issue price of Rs 1,674 apiece to eligible institutional investors.

Renewable energy solutions provider Suzlon Group has monetised non-core assets worth Rs 440 crore. This move is part of Suzlon’s broader growth strategy of becoming asset-light and unlocking capital for growth to fund execution of its expanding order book with internal resources, a company statement said. Suzlon Group announced disinvestment of its corporate headquarters One Earth. This sale and leaseback arrangement will not impact Suzlon’s operations.

 Canara Bank has raised $ 300 million via the IFSC Banking Unit. The net proceeds from the issue of the notes will be applied by the Issuer’s IFSC Banking Unit at Gandhinagar towards the general corporate purposes, Canara Bank said in a regulatory filing. The bonds with maturity of 5 years carry a coupon rate of 4.896 to be paid semi annually, it said.

NBCC (India) Ltd and RITES Ltd have signed an agreement to collaborate for securing projects globally in diverse sectors. According to a statement, NBCC and RITES have signed a significant Memorandum of Understanding (MoU) aimed at transforming infrastructure development across India and beyond.

Institutional investors on Wednesday put in bids worth about Rs 2,300 crore in the government’s offer for sale (OFS) in General Insurance Corporation (GIC Re). “Offer for Sale in GIC got a positive response today from Non Retail investors. Issue subscribed 1.08 times of base size. Govt has decided to exercise the green shoe option,” DIPAM Secretary Tuhin Kanta Pandey said in a post on X. The government is selling up to 5.95 crore equity shares or 3.39 per cent stake in GIC Re at a floor price of Rs 395 a share. The OFS also has a green shoe option to allow the government to retain over-subscription of up to an additional 3.39 per cent, taking the total issue size to 6.78 per cent.

Credit rating agency ICRA on Wednesday said that it has upgraded Vedanta Ltd’s long-term credit rating, reflecting the company’s strengthened credit profile. The long-term credit rating has been upgraded to AA from AA-. The long-term rating upgrade considers an expected improvement in the company’s credit metrics, following the successful fund-raising worth USD 1 billion by the company via a qualified institutional placement (QIP) in July and an additional USD 400 million generated from the offer for sale (OFS) of Hindustan Zinc Ltd in August, ICRA said.

State-owned hydro power giant NHPC on Wednesday said it has inked an initial pact to develop pumped hydro storage projects totalling 7,350 MW in Maharashtra. This MoU covers the establishment of Pumped Storage Projects (PSPs) in Maharashtra with a total capacity of 7,350 MW, focusing on survey, investigation, and Detailed Project Report (DPR) preparation, along with the timely implementation as per Central and State Government policies, a company statement said.

Reliance Industries Limited has been granted approval to set up a battery manufacturing facility for up to 10 GW under the Rs 3,620 crore-Production Linked Incentives (PLI) scheme for ACC Battery Storage, the government said on Wednesday. The Ministry of Heavy Industries had received bids from seven bidders under global tender for Production Linked Incentives (PLI) scheme for 10 GWh Advanced Chemistry Cell (ACC) manufacturing, with a maximum budgetary outlay of Rs 3,620 crore, announced on January 24, 2024.

Sona BLW has launched a QIP to raise up to Rs 2,400 crore. The indicative issue price is between Rs 675 to 700 per share and the equity dilution at the lower end of the price range will be 6.06 per cent.

The board of PNB Housing Finance will convene on Monday to deliberate on and potentially approve the issuance of Non-Convertible Debentures (NCDs) up to Rs 2,500 crore.

The board of directors of Matrimony.com will meet today to consider a proposal to buyback share.

Century Textiles and Industries said it has issued a corporate guarantee valued at Rs 400 crore in favour of Hindalco Industries.

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