A Reuters report quoting unnamed sources said the markets regulator has found a dozen offshore funds invested in Adani group companies are in violation of disclosure rules and in breach of investment limits.
The National Company Law Tribunal (NCLT) has ordered insolvency proceedings against media baron Subhash Chandra on a plea filed by Indiabulls Housing Finance. A two-member Delhi bench of the NCLT directed initiation of personal insolvency proceedings against Zee Entertainment Enterprises Ltd (ZEEL) Chairman Emeritus Chandra, who was a guarantor for a loan given to Essel group firm Vivek Infracon Ltd.
IFCI has received a capital infusion of ₹500 crore through the issuance of equity shares to the government on a preferential basis. Allotment of 12,39,77,188 shares to the Government of India was done on April 18, 2024, on a preferential basis, IFCI said in a regulatory filing.
The ₹18,000-crore offer-for-sale of Vodafone Idea was subscribed nearly seven times after institutional investors poured in money, stock exchange data showed. At the close of the offering, as many as 8,011.29 crore shares were sought, 6.99 times of the issue size. This is the highest-ever overall subscription.
Reliance Industries Ltd has reported an almost flat March quarter net profit, while its annual earnings hit a record high on the back of a recovery in its core oil and petrochemicals business and sustained momentum across the consumer-facing telecom and retail businesses. The oil-to-telecom-and-retail conglomerate’s consolidated net profit stood at ₹18,951 crore, or ₹28.01 a share, in the January-March quarter of the 2023-24 fiscal, compared to ₹19,299 crore or ₹28.52 a share. The profit was, however, higher quarter-on-quarter when compared to ₹17,265 crore in the October-December period. Meanwhile, Sanjay Mashruwala, one of the two managing directors at Reliance Jio, has resigned from the company, the firm said in a stock exchange filing.
Industrial equipment maker Gujarat Toolroom has executed an order worth ₹65 crore with Reliance Industries Ltd. As part of the deal, it has delivered construction supplies to RIL, Gujarat Toolroom Ltd (GTL) said in an exchange filing. The initial tranche of the contract amounting to ₹29 crore was completed last month.
Paytm (One97 Communications) has launched two Made-in-India soundboxes for UPI and credit card on UPI payments that promise to provide better instant notification when payments are received via QR code. Founder and CEO Vijay Shekhar Sharma said the advanced soundboxes provide superior sound quality and battery life, making them better suited to Indian conditions.
Hero MotoCorp has said its Chief Technology Officer (CTO) Arun Jaura has resigned. Jaura had joined the company as CTO in January 2022. “Acknowledging the dynamic nature of our industry, we recognise that change is inevitable. After approximately two-and-a-half years with Hero MotoCorp, Dr. Arun Jaura, our CTO, has decided to step down from his role and pursue personal endeavours,” Hero MotoCorp CEO Niranjan Gupta said in a regulatory filing.
The allotment committee of the board of Patel Engineering has authorised the opening of QIP Issue on April 22 and approved floor price as ₹59.50 a share. The allotment committee will meet onApril 25 to determine the issue price.
PSP Projects has launched QIP issue to and fixed the floor price as ₹682.59 a share.
