HDFC Limited, one of India’s leading mortgage lenders, has recently announced a major fundraise plan to secure Rs 57,000 Crore. This move comes as part of the company’s strategic efforts to augment its long-term resources and meet the growing demands of the housing finance business. In a bid to raise the funds, HDFC has issued a post-bidding term sheet outlining the key terms of the non-convertible debentures (NCDs) that will be offered to investors.
Sona BLW Precision
Aureus Investment Pvt Ltd, a promoter of Sona BLW Precision, recently completed a significant transaction in the open market, selling a 3.2% stake in the company for a total of Rs 957 crore.
Vedanta Resources Limited (Vedanta), the parent company of Mumbai-listed mining giant Vedanta Ltd, announced on Wednesday that it has made significant progress in reducing its debt. The company, led by billionaire Anil Agarwal, revealed that it has successfully repaid USD 400 million of loans, resulting in a reduction of its gross debt to USD 6.4 billion. This marks a substantial milestone in Vedanta’s deleveraging strategy, which was initiated in March 2022 and has already led to a reduction of USD 3.3 billion in debt.
S&P Global recently affirmed the ‘BBB+’ rating on Reliance Industries (RIL), one of India’s largest conglomerates, with a stable outlook. This rating affirmation reflects S&P Global’s positive outlook on the growth prospects and financial stability of RIL despite significant investments expected in the coming years.
Recent developments include the withdrawal of Adani Enterprises securities from the short-term Additional Surveillance Measure (ASM) framework, which was notified by the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). This choice will take effect on Friday.
Coal India, a leading PSU coal producer, has recently witnessed substantial interest from institutional investors for the government’s offer-for-sale (OFS). The two-day OFS, aiming to sell a 3% stake in Coal India, attracted enthusiastic participation, leading to oversubscription. The Department of Investment and Public Asset Management (DIPAM) Secretary reported that non-retail investors subscribed to the issue at a rate of 3.46 times the base size.
Lupin Limited, a leading pharmaceutical company, made an exciting announcement on Thursday regarding its subsidiary, Novel Laboratories Inc. The United States Food and Drug Administration (US FDA) has granted approval for Diazepam Rectal Gel, an important medication used in emergency situations to control cluster seizures in individuals who are already receiving treatment for epilepsy.
Aditya Birla Capital
Leading financial services provider Aditya Birla Capital said today that its board of directors has approved the preferential share issuance of Rs 1,250 crore to its promoter and promoter related business. This issue is a part of the company’s authorised, up to Rs 3,000 crore, equity fundraising strategy.
Larsen & Toubro (L&T), the power transmission and distribution business, has announced its involvement in the construction of the world’s largest green hydrogen plant, being developed by NEOM Green Hydrogen Company. The plant, situated in Oxagon within Saudi Arabia’s NEOM region, aims to produce green hydrogen on an unprecedented scale for global export in the form of green ammonia.
NTPC Green Energy Ltd (NGEL), a subsidiary of NTPC Ltd, and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) have announced a collaboration to establish renewable energy parks in Uttar Pradesh.
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