Rights Issue

PNB Housing Finance, an arm of state-owned Punjab National Bank, has received capital markets regulator Sebi's go ahead to raise up to Rs 2,500 crore through rights issue of shares. The housing finance firm, which had filed draft papers with Sebi in December 2022 regarding the rights issue, obtained its 'observations' on March 6, which is necessary for any company to launch the issue, an update the markets regulator showed on Monday. Going by the draft papers, PNB Housing will issue fully paid-up equity shares of the company by way of a rights issue to its existing shareholders for an amount not exceeding Rs 2,500 crore. The company intends to utilise the net proceeds from the issue towards augmenting its capital base. Post the rights issue, the shareholding of Punjab National Bank (PNB) as a promoter of the company would come down from the current level of 32.53 per cent to below 30 per cent but it would be higher than 26 per cent so that the bank retains promoter status. In Marc

On January 19, the board of HZL approved the acquisition of zinc assets of THL Zinc Ventures, a subsidiary of Vedanta Ltd

Some investment bankers argued that the reason for tepid fundraising through QIPs and rights could also be due to the fact that companies this year were not in need of large capital

Indowind Energy board on Tuesday approved a rights issue of 3.58 crore equity shares for Rs 43.07 crore. The right issue will be opened on January 27, 2023, and will be closed on February 10, 2023, a BSE filing showed. The board meeting held today, i.e. December 27, 2022, has inter alia considered and approved the terms of the rights issue, it added. The size of the rights issue is 3,58,96,594 fully paid-up equity shares for an amount aggregating to Rs 43,07,59,128 at an issue price of Rs 12 per piece, including a premium of Rs 2 per scrip. The record date for the issue will be January 13, 2023, (Friday) for the purpose of determining the names of the equity shareholders who would be eligible to receive the rights entitlement in the issue (Eligible Equity Shareholders). The outstanding equity shares prior to the rights issue are 8,97,41,486 equity shares while post rights issue, those would be 12,56,38,080 equity shares assuming full subscription. Two equity shares will be allott

The board of Delhi Metro Rail Corporation has approved the raising of the equity share capital of the DMRC by way of the rights issue, to be subscribed equally by both the stakeholders -- the Centre and the Delhi government. The funds raised will be to meet the liability arising out of an arbitral award of 2017 in favour of Delhi Airport Metro Express Private Ltd (DAMEPL). A rights issue is an invitation to existing shareholders to purchase additional new shares in the company. The DMRC is a 50:50 joint venture between the government of India and the Delhi government. The Supreme Court on Wednesday directed the Delhi High Court to proceed with the execution of the Rs 4,600 crore arbitration award granted in favour of DAMEPL, which had pulled out from running the Airport Express metro line over safety issues and take it to a logical end within three months. An arbitral tribunal had ruled in favour of Reliance Infra's DAMEPL and accepted its claim that running the operations on the

Transporter asks Centre, Delhi govt to infuse equity of Rs 3,500 crore each

Year 2017 first with nil funds raised; experts say easier routes of raising capital such as QIP driving down popularity of rights

Mop-up Rs 2,867 cr in CY22, as against Rs 25,335 cr in same period last yr

The company is issuing 2.4 billion new shares at Rs 5 apiece; proceeds will be used pare debt, which currently stands at Rs 3,272 crore

Suzlon Energy would be able to pare its debt by Rs 583.5 crore with full subscription of its Rs 1,200 crore rights issue which opened on Tuesday, the company said. "Rs 583.5 crore debt will be repaid with the assumption of full subscription of Rs 1,200 crore rights issue opened on Tuesday," Suzlon Group Chief Financial Officer Himanshu Mody said in a virtual press conference. He said the total debt of the company was Rs 3,200 crore as of June quarter 2022-23 and the company would be able to repay the remaining debt in the next eight years. Mody emphasised that the company would have much leaner, healthier and better balance sheet after the issue and there will be no decline in the promoters' holding after the issue. About an earlier instance of decline in promoter holding, he said it happened due to conversion of certain bonds (debt) into equity (under the debt restructuring plan). Earlier this month, Suzlon Energy had said its promoters had reconfirmed their participation in the

There is a bullish formation of a "Higher High, Higher Low" pattern on the daily chart, and only if the stock breaks the 200-DMA the trend could turn negative.

The rights issue will open on October 11, closing on October 20

Meanwhile, the stock has surged 55 per cent against its qualified institutional placement (QIP) price of Rs 202 per share

It is looking to raise up to Rs 1,200 crore through a rights issue of shares by the fiscal-end to pare the refinanced debt of Rs 3,000 crore, its Chief Financial Officer Himanshu Mody told PTI.

Lender was aiming to raise Rs 127 crore for growth plans

On April 10, 2022, the board had approved rights issue in the ratio of 2 rights equity shares for every 1 equity share as on record date at a price of Rs 10 per share.

The bank's capital adequacy ratio fell below 13% in the March quarter and capital raised via the rights issue is expected to boost it by 50 bps

Plans to raise funds to fuel capacity expansion, foray into sanitary ware, surface flooring

In October 2021, PNB HFC dropped plans for a preferential issue of equity shares to raise Rs 4,000 crore from a group of investors led by private equity fund Carlyle

The plan comes ahead of proposed 5G spectrum auction and is the second such exercise in three months. Last October the firm raised about Rs 21,000 cr via a rights issue