Suzlon Founders Sell 4.5% Stake – Promoters of wind turbine major Suzlon Energy have sold a 4.5% stake or 70 million shares in the firm. The founders have managed to raised around $142 million and the proceeds would be infused into the company. The promoters stake will fall to 53.08% post the deal, said Suzlon in a statement to BSE.
Cipla To Offload 4% Stake – Drug maker Cipla is planning to sell around a 4% stake to institutional investors to raise close to $175 million (Rs 840 crore). The shares will be soild at Rs 263.75 each, near yesterday’s closing price. The stock price of Ciple climbed upto Rs 267.5 in the morning, before falling to Rs 263.45. Cipla could sell shares worth $110 million, with an option to raise it to $175 million. CLSA, JPMorgan and Kotak Mahindra Capital are the arrangers for the deal.
The funds will be used to fund Cipla’s expansion plans, which includes a new active pharmaceutical ingredient unit in Bangalore and a special economic zone (SEZ) for drug formulations at Indore, Madhya Pradesh. (Business Standard)
Jaiprakash To Go For A $200 Million Treasury Stake Sale – Jaiprakash Associates is gearing up for another round of treasury share stake sale to raise $200 million. The firm which has interests in cement, construction, expressways, hotels and real estate businesses plans to use the funds for to invest in its existing projects. The share price of the Delhi-based firm fell by more than 5% today, hitting a low of Rs 234. The shares will be sold at price of Rs 200.
Jaiprakash merged itself with Jaypee Hotels, Jaypee Cement, Gujarat Anjan Cement and Jaiprakash Enterprises earlier this year. This resulted in 21 crore treasury shares or 14.5% of the equity capital of the combined entity. (Economic Times)
Bushan Steel To Go For Rs 2,000 Cr QIP – Bhushan Steel may look to raise upto Rs 2,000 crore through a qualified institutional placement (QIP) of shares to fund its expansion plans. The cold-rolled steel maker has started road shows for the QIP, for which it has appointed CLSA India. But company officials have said that the funds for expansion have already been tied up and the company has set up a 2.5 million tonne per annum steel plant in Orissa.
Bhushan Steel’s AGM is scheduled for September 26. The shares of Bhushan were trading at Rs 290.1 today morning, near its previous close. (DNA)
DHFL Raises Debt, To Go For NCD Issue – Dewan Housing Finance (DHFL) has managed to raise Rs 250 crore through a private placement of debt. This comes on the backdrop of Rs 225 crore qualified institutional placement of equity shares with another Rs 75 crore through preferential issue to the promoters.
The Wadhawan family-owned firm also plans to raise another Rs 500 crore through private placement of non-convertible debentures (NCDs). (BS)
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10 years ago
Suzlon Energy, the world’s fifth largest wind turbine maker, has sold a% ...
9 years ago
Suzlon Energy, one of the world’s largest wind turbine makers, has sold 35...
9 years ago
Suzlon Energy, one of the world’s largest wind turbine makers, plans to...