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IndiGo: On December 13, IndiGo, the largest airline in the country, surpassed United Airlines, securing its position as the sixth-largest airline. At the close of Wednesday, InterGlobe Aviation held a market valuation of $13.8 billion, surpassing United Airlines by approximately $310 million, as per Bloomberg data.
State Bank of India: On Wednesday, the bank announced its intention to enter into a 70 million euro (approximately Rs 630 crore) Line of Credit (LoC) with the German Development Bank KfW to foster solar projects in India. The signing of the agreement is scheduled for December 14 at the bank’s IFSC Gift City Branch in Ahmedabad.
Fusion Micro Finance: According to a report by CNBC-TV18, Honey Rose Investments, the investment vehicle of private equity major Warburg Pincus, is likely to sell a 9.25% stake in Fusion Micro Finance via block deals. The floor price is set at Rs 535 per share, which is a discount of 4.9% to Wednesday’s closing price of Rs 575. The deal size is Rs 500 crore.
Biocon: The biotechnology major announced that its affiliated company, Bicara Therapeutics Inc., has completed its Series C financing on December 12, 2023, successfully raising $165 million.
Bank of Baroda: A meeting of the capital raising committee of the Bank is scheduled to be held on December 15 to discuss and finalize the quantum of the first tranche of Tier II/Sub debt instruments issued within the board-approved capital raising plan.
RBL Bank: RBL Bank has purchased an 8.51% equity stake in the Open Network for Digital Commerce (ONDC) for a sum of Rs 40 crore.
HDFC Bank: HDFC Life, a subsidiary of HDFC Bank, has obtained regulatory approval to reclassify Abrdn Mauritius Holdings from the ‘Promoter’ category to the ‘Public’ category.
Vedanta: On December 18, Vedanta is set to review and sanction the second interim dividend for equity shares.
Jammu & Kashmir Bank: The bank’s board meeting will be held on Dec 14 to consider fundraising.
JSW Energy: On Wednesday, JSW Energy (Barmer) Ltd announced the successful completion of a bonus issue involving 75.38 crore shares valued at Rs 753.89 crore.
Ultratech Cement: On Wednesday, the leading cement and ready-mix concrete producer revealed its intention to elevate the proportion of green energy in its overall energy composition to 85% by the year 2030.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Readers are advised to check with certified experts before taking any investment decisions.
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