Page 7 - Shareholders

Shareholders vs stakeholders, once more

The debate resurfaced last month after JP Morgan's board rejected the switch to become a shareholder-focused entity

Magma Fincorp shareholders approve 60% acquisition by Poonawalla-led firm

The networth of the company will increase to over Rs 6,300 crore post the issuance

Yes Bank get majority vote of shareholders for Rs 10,000 cr fund mop-up

Yes Bank on Tuesday said its shareholders have approved a proposal for raising Rs 10,000 crore capital with the requisite majority. As many as 98.78 per cent votes were cast in favour of the resolution to authorise the bank to raise capital through issuance of equity shares or other securities, Yes Bank said in a regulatory filing. "We would like to inform that the special resolution...has been approved by the members with requisite majority," Yes Bank said. On January 22, while declaring its financial results for quarter ended December 31, 2020, Yes Bank had informed about Rs 10,000 crore fund raise plan through various modes. In its notice for the postal ballot on the capital raise plan, the bank said that it wants to further strengthen the common equity tier 1 (CET 1 or core capital) ratio and to ensure that it has enough capital to support growth and maintain adequate buffers to deal with any unforeseen impact. And it had proposed to raise equity capital not exceeding Rs 10,000

Indian Bank seeks shareholders nod for Rs 4,000 cr equity capital raise

State-owned Indian Bank on Tuesday said it held an extra-ordinary general meeting (EGM) to seek shareholders nod for raising equity capital up to Rs 4,000 crore through various means. Extraordinary General Meeting (EGM) of the bank was held on 2nd March, 2021 through video conferencing/other audio visual means in accordance with government guidelines, the bank said in a regulatory filing. The EGM was chaired by bank MD&CEO Padmaja Chunduru who informed that sole agenda of the meeting was to seek approval of shareholders by way of passing special resolution to raise equity capital up to Rs 4,000 crore through QIP/FPO/rights issue or any combination of these, Indian Bank said. "The resolution seeks to enable the bank to create, offer, issue and allot equity shares by way of follow on public offer and/or on a private placement basis or any other mode approved by GOI and RBI. The issue proceeds will enable the Bank to strengthen its capital base to support growth," it said. As of now,

Global dividend payouts forecast to revive by as much as 5% in 2021

Janus Henderson's report warned that dividends could still fall 2% this year, in a worst-case scenario. But its best-case scenario sees 2021 dividends up 5% on a headline basis

Not a penny to equity holders as DHFL bidders value firm's shares at zero

Investors baffled as DHFL had a market valuation of Rs 941 cr on Monday, with its stock trading at Rs 30 a share even after the company was sent for bankruptcy proceedings

Dismantling Murugappa Advisory Board not in investor interest: Arunachalam

She says she learnt about the development from media reports, not from the family

Heathrow to resume paying small dividend to shareholders from 2022

Heathrow said it would not pay dividends this year or next in return for leniency from its shareholders in a submission to the Civil Aviation Authority

Sebi to relax norms for promoters to reclassify as ordinary shareholders

Maximum promoter holding to be eligible for reclassification to be raised from 10% to 15%; waiting time to be brought down to one month from three

TCS shareholders approve up to Rs 16,000-crore share buyback plan

The voting, which started on October 20 and ended on November 18, saw 99.57 per cent of the votes being cast in favour of the buyback offer

Merger of insurers: Irdai releases draft norms on shareholder compensation

Says those whose rights against the acquiring insurer have been reduced, must be paid compensation based on the residual value of assets

Vedanta's failed delisting triggers debate on FDI tag, limited disclosure

Officials said the assumption that Vedanta's delisting would have been successful at a price of Rs 140 was "completely misplaced

Anil Agarwal's mega bid to take Vedanta private runs into rough weather

In the event, Vedanta RBB fails to get bids for at least 1.34 billion shares--- the minimum required for the promoters to acquire 90 per cent shareholding-the delisting bid would fail

Vedanta shares tank on delisting uncertainty; shareholders told to bid up

Promoter group wants an exit price of less than Rs 170 per share, but large institutional shareholders are keen on getting more

Sterling & Wilson Solar shareholders approve reappointment of Pallon Mistry

Resolution pertaining to material related-party transactions also approved

VIL gets shareholders' nod to raise borrowing limit, issuance of securities

Shareholders of the company, which was earlier listed as Idea Cellular, had approved a borrowing limit of Rs 25,000 crore at its AGM in September 2014

RBI sounds out PNB on acquisition of beleaguered Lakshmi Vilas Bank

Beleaguered bank is currently in merger talks with Clix Capital

Best of BS Opinion: India at UN high table, shareholders in action & more

Business Standard opinion pieces for the day, among other things, talk about the issues related to Lakshmi Vilas Bank

Shareholders in action

Problems at Lakshmi Vilas Bank should be settled swiftly

Virtual AGMs see lower shareholder representation amid Covid-19 pandemic

TCS and M&M were outliers, recording a two-fold rise in representation