The Centre’s offer for sale (OFS) of shares in Coal India received a significant response from both non-retail or institutional investors and retail investors on Friday. The two-day OFS saw the government selling its 18.48 crore shares, representing a 3% stake in Coal India. Prior to the sale, the union ministry of coal had informed the exchanges that the floor price for OFS would be set at ₹225 per share, resulting in an overall offer size of over ₹4,100 crore.
Macrotech Developers Ltd, known for its housing projects under the brand ‘Lodha,’ is venturing into the realm of real estate investment trusts (REITs) for its digital infrastructure assets. The company has secured a substantial $1 billion platform for this purpose, thanks to funding from Bain Capital and Ivanhoe Cambridge. The digital infrastructure platform, which was announced in May 2022, aims to invest the allocated funds in creating 30 million square feet of operational assets. These assets will encompass logistics and industrial parks, as well as in-city fulfillment centers.
In a significant development, Tata Group has announced a substantial investment of Rs 13,000 crore to establish a state-of-the-art lithium-ion cell Plant in Gujarat. The news was reported by CNBC-TV18 on June 2, highlighting the company’s commitment to expanding its presence in the growing electric mobility sector.
Indel Money Limited, a prominent non-bank lender specializing in gold loans, announced on Thursday its intention to raise Rs 100 crore through secured non-convertible debentures (NCDs).
Bank of Baroda
Bank of Baroda, a leading public sector lender, announced on Friday that its board of directors has given approval for raising additional capital through debt instruments. The bank aims to raise funds worth not more than Rs 5,000 crore through either additional tier I or tier II debt capital instruments.
Spandana Sphoorty Financial, a leading microfinance company, announced on Friday that its board of directors has given the approval to raise ₹100 crore through the issuance of Non-Convertible Debentures (NCDs). The NCDs will be offered on a private placement basis, with an additional green shoe option of ₹50 crores.
Tata Elxsi, a leading technology company, has announced its collaboration with Cultos Global to integrate a blockchain mechanism into its TETHER connected vehicle platform (TCVP). The partnership aims to create a driver rewards program that enhances the user experience and incentivizes safe driving practices.
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