Times Top News

Times Top News

Bajaj Housing Finance raises Rs 1,757 crore from anchor investors

Bajaj Housing Finance raises Rs 1,757 crore from anchor investors

by | Sep 6, 2024 | Share Market


2 min read Last Updated : Sep 06 2024 | 10:51 PM IST


Bajaj Housing Finance on Friday allotted shares worth Rs 1,757 crore to anchor investors. It allotted 251 million shares at Rs 70 apiece to over 100 investors. Some of the investors that got an allotment included the Government of Singapore, HDFC MF, New World Fund, and Capital Group.


Bajaj Housing’s IPO opens for subscription on Monday. The IPO comprises a Rs 3,000 crore fresh fund raise, which will be used to augment its capital base. The issue also comprises a Rs 3,560-crore secondary share sale by promoter Bajaj Finance. The price band for the IPO is Rs 66-70 per share. At the top end, Bajaj Housing will be valued at Rs 58,300 crore on a post-diluted basis.

 


At the upper end of this price band, Bajaj Housing is valued at a price-to-book ratio of 3.2 times on a post-money basis. For the quarter ended June 2024, the company’s book value per share was Rs 18. It had clocked a net profit of Rs 483 crore on total income of Rs 810 crore.


Bajaj Housing is a non-deposit-taking housing finance company (NBFC). It is categorized as an Upper Layer NBFC engaged in providing financing solutions to individuals and corporate entities through its suite of products, including home loans, loans against property, lease rental discounting, and developer finance. As on June 30, 2024, BHFL had a network of 215 branches across 174 locations in 20 states. It had an AUM of Rs 97,000 crore, and its capital adequacy ratio is robust at 23.8 per cent.

First Published: Sep 06 2024 | 10:51 PM IST



Source link

Sebi alters reporting timelines for commercial paper payment obligations

Sebi alters reporting timelines for commercial paper payment obligations

by | Sep 6, 2024 | Share Market


The change will apply to entities reporting the payment of interest, dividends, or the redemption of principal amounts. (Photo: Shutterstock)

1 min read Last Updated : Sep 06 2024 | 10:47 PM IST


Sebi on Friday modified the timeline for entities with listed commercial papers to report the status of their payment obligations within one working day of the payment due date, bringing it in line with the reporting requirements for non-convertible securities.


The move will enhance transparency for stakeholders and ensure timely disclosures by the entities.


In its circular, Sebi said, the LODR (Listing Obligations and Disclosure Requirements) rules mandate entities with listed non-convertible securities to report the status of their payment obligations (payment of interest or dividend or repayment or redemption of principal) within one working day of its payment becoming due.

 


Earlier, the rule required issuers of listed commercial papers to submit a certificate confirming the fulfilment of their payment obligations within two days of payment becoming due.


Sebi said it has amended the rule in order to align the timeline of intimating stock exchanges regarding status of payment obligations for listed non-convertible securities and listed commercial paper.


The change will apply to entities reporting the payment of interest, dividends, or the redemption of principal amounts.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sep 06 2024 | 10:47 PM IST



Source link

Auto parts-maker Kross raises Rs 150 cr from anchor investors ahead of IPO

Auto parts-maker Kross raises Rs 150 cr from anchor investors ahead of IPO

by | Sep 6, 2024 | Share Market


Auto parts manufacturer- Kross | Representational Image

2 min read Last Updated : Sep 06 2024 | 8:52 PM IST


Auto parts manufacturer Kross Ltd on Friday said it has mobilised Rs 150 crore from anchor investors ahead of its initial public offering (IPO).

 


EastSpring Investments, Mathews Asia Funds, LIC Mutual Fund (MF), ICICI Prudential MF, Axis MF, Kotak Mahindra MF, Motilal Oswal MF, Edelweiss MF and Max Life Insurance Company are among the anchor investors.

 


According to a circular uploaded on BSE’s website, Kross Ltd around Rs 150 crore from 19 funds including mutual funds by allotting 6.2 mn equity shares at Rs 240 per equity share — the upper end of the price band.

 

 


The Jamshedpur-based company’s IPO is a combination of a fresh issue of equity shares worth Rs 250 crore and an Offer for Sale (OFS) aggregating up to Rs 250 crore by the promoters.

 


The OFS portion consists of equity shares to the tune of up to Rs 168 crore by Sudhir Rai and Rs 82 crore by Anita Rai.

 


The issue, with a price band of Rs 228-240 per share, will open for public subscription on September 9 and conclude on September 11.

 


Kross proposes to utilise the net proceeds of the fresh issue for the purchase of machinery and equipment, payment of debt, and funding the working capital requirements of the company. Besides, a portion will be used for general corporate purposes.

 


Bids can be made for a minimum of 62 equity shares and in multiples of 62 equity shares thereafter.

 


Founded in 1991, Kross is a diversified player focused on manufacturing and supply of trailer axle and suspension assembly and a wide range of forged and precision machined high-performance safety critical parts for medium and heavy commercial vehicles and farm equipment segments.

 

Equirus Capital is the sole book-running lead manager to the issue. The equity shares are proposed to be listed on the BSE and the NSE. 


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sep 06 2024 | 8:52 PM IST



Source link

Mazagon Dock Shipbuilders wins subsea pipeline replacement project of Rs 1486 cr

Mazagon Dock Shipbuilders wins subsea pipeline replacement project of Rs 1486 cr

by | Sep 6, 2024 | Share Market


Last Updated : Sep 06 2024 | 8:31 PM IST

From Oil & Natural Gas Corpn

Mazagon Dock Shipbuilders (MDL) has received a Notification of Award of Contract on 05 September 2024 from Oil and Natural Gas Corporation (ONGC) for Pipeline Replacement Project 8 Group A (PRP 8 Group A) on EPC reimbursable basis (OBE) at the ceiling price of Rs 1486.40 crore including all taxes and duties (GST@12%).

Powered by Capital Market – Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Sep 06 2024 | 8:14 PM IST



Source link

Mazagon Dock Shipbuilders wins subsea pipeline replacement project of Rs 1486 cr

Ion Exchange wins contract of Rs 168 cr

by | Sep 6, 2024 | Share Market


Last Updated : Sep 06 2024 | 8:31 PM IST

Ion Exchange (India) has been awarded Contracts from Technimont SpA, Italy for De-Oiling, Demineralization and Condensate Poly Unit Packages for the Hail & Ghasha Development Project of ADNOC, U.A.E. totaling to approximately Rs 168 crore. The projects are to be completed within 61 weeks from Project Award dates.

Powered by Capital Market – Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Sep 06 2024 | 7:59 PM IST



Source link

Quant Mutual Fund crosses Rs ₹1 lakh crore AUM

Quant Mutual Fund crosses Rs ₹1 lakh crore AUM

by | Sep 6, 2024 | Share Market


Quant Mutual Fund, which is under market regulator SEBI lens in a front running case, has crossed asset under management of ₹1 lakh crore.

The fund house has over 81 million unique investors, said the fund house in a note to investors.

The milestone reflects consistent performance and the fund house capability to generate superior risk-adjusted returns year-after-year, it said.

In July, SEBI conducted search and seizure operations on the back of a front running case allegations. However, the fund house has denied any wrong-doing, though SEBI action led to huge redemption of investment.





Source link

About-us

Privacy Policy

Email: hansrajagrawalakola@gmail.com

YouTube
Instagram
WhatsApp