MTAR Technologies’ IPO to open on March 3 at a price band of Rs 574-575/share
MTAR Technologies, a leading national player in the precision engineering industry, will open its initial public offering (IPO) for subscription on March 3. The company has fixed the price band for the issue at Rs 574-575 per share. The issue, which closes on March 5, comprises a fresh issue of 21,48,149 equity shares by the company and an offer for sale of 82,24,270 equity shares by promoters and investors. Investors can bid for a minimum of 26 equity shares and in multiples of 26 shares, thereafter.
Bharti Airtel raises $1.25 bn through debt instruments
Bharti Airtel on Thursday said it has raised USD 1.25 billion through issuance of debt instruments. The debt fundraising by the company comes just before the start of spectrum auction valued at Rs 3.92 lakh crore. Airtel said this is the first-ever dual-tranche US dollar bond issued by the company spread across senior and perpetual issuance.
Simultaneously, Bharti Airtel’s subsidiary Network i2i Limited priced USD 500 million in guaranteed subordinated perpetual NC 5.25 year bonds with a coupon of 3.975 percent. This is the lowest ever yield on 10 year and Perpetual bonds for Bharti Airtel. Read more.
Jubilant Industries | The company is evaluating the possibility of a merger/restructuring involving the company, certain promoters of the company and Jubilant Agri and Consumer Products. This exercise is being contemplated in order to enable better management focus and control of the business, reduce the number of operating companies, achieve a reduction in overheads, administrative, managerial and to streamline, realign shareholding, Jubilant Industries said.
Coal India to enter 26 new business segments
Coal India Ltd (CIL) will enter 26 new business segments with private companies. The company will form joint ventures on new business segments by Q2 of FY22 and plans to invest Rs 1.43 lakh crore in new business segments by 2024.
IIFL Securities surge 17% after winning bid for Demat accounts of Karvy Stock Broking; up 40% in 2 days
Shares of IIFL Securities surged nearly 17 percent to hit a 52-week high on Thursday after the firm won the bid to acquire Demat accounts of Karvy Stock Broking. The 1.1 million Demat accounts of Karvy were being held by accounts depositories NSDL and CDSL. The stock rose as much as 16.8 percent to its 52-week high of Rs 65.60 per share on the BSE. In just 2 sessions, the stock has advanced 40 percent post the news. The 1.11 million Demat accounts with a custody value of Rs 3.01 trillion as of January 31, 2021, the company said. Earlier this month, depositories NSDL and CDSL had said…