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Indian Bank plans to raise about ₹4,000 crore through QIP issue, which is set to open today. The lender’s board has set the floor price for the issue at Rs 414.44 per share. While the base issue of Indian Bank’s QIP is ₹2,250 crore, it has a green-shoe option to retain another ₹1,500 crore.
Market Buzz is that Bain Capital entities plan to sell 1.1 per cent stake or 3.34 crore shares in Axis Bank via block deals. The floor price has been fixed as ₹1109 a share The deal size is about ₹3700 crore.
The board of Bank of Baroda will meet on December 15 to consider fund raising plans.
Mahindra and Mahindra said that Mahindra Susten Private Limited, subsidiary Mahindra Holdings Ltd, which is wholly owned subsidiary of M&M, has approved the acquisition of 58,64,835 shares of Emergent Solren Private Limited. Earlier, it had entered a share purchase agreement with Ontario Ltd (2OL), a wholly owned subsidiary of Ontario Teachers’ Pension Plan Board which inter alia provided for sale/transfer/hiving off of identified operational assets (pertaining to about 360 MWp portfolio) by MSPL to a new company to be incorporated or any other entity (NewCo) which would ultimately be transferred/sold to Infrastructure Investment Trust.
KDDL said its subsidiary Mahen Distribution has sold Ethos Ltd shares worth ₹104.14 crore.
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