🔆Good Morning All🔆
💥 Morning Market News & Update
Stocks To Watch
🔆IndusInd Bank: Board has approved preferential issue of up to Rs 3,288 crore. Promoters of bank will also participate in the fund raise. To issue 4.76 crore equity shares at an issue price of Rs 524 to qualified institutional buyers like Route One Offshore Master Fund, Route One Fund, ICICI Prudential Life Insurance, Tata Investment Corporation and AIA. To issue over 1.51 crore equity shares at an issue price of Rs 524 to Hindu Capital Ltd. and IndusInd International Holdings. One-year lock-in for QIB investors and 3-year lock in for promoters and Hinduja Capital. Post fund raising CET-1 Ratio will rise to 14.4%.
🔆IDBI Bank: MD & CEO Rakesh Sharma said that 56% of loan book is currently under moratorium from 66% in the first phase. 61% corporates on an average availed moratorium while the number for retail borrowers stood at 55%. IDBI Mutual Fund stake sale awaiting regulatory approval.
🔆Godrej Properties: Approved allotment NCDs worth Rs 1,000 crore on a private placement basis.
🔆SH Kelkar: Increased its stake in Creative Flavours and Fragrances S.p.A. to 100% from 51% for 16 million euros. The target company is a fragrance company in Italy.
🔆Future Retail: CARE Ratings has downgraded the long-term banking facilities, NCDs and long-term loans to CARE BB from CARE A-, due to weakening of business and financial risk profile on account of extended lockdown due to Covid-19.
🔆Info Edge: Stake in Ustraa to fall from 42.3% to up to 30%, after Ustraa raised Rs 50 crore from IIFL Private Equity Fund. Shareholders approved issuing equity shares via qualified institutional placement.
🔆CDSL: Arm received approval from UIDAI to act as a local authentication user agency / e-KYC user agency.
🔆Raymond: To consider raising funds via NCDs on July 31.
🔆Mindspace Business Parks REIT: IPO subscribed 1.21 times on Day 2. Institutional subscription at 0.83 times. Retail subscription at 1.65 times. Institutional category doesn’t include anchor portion.#NIFTYBANK #NIFTY50 #INDUSINDBK #FRETAIL #CDSL #GODREJPROP