| Metallurgical and chemical engineering firm on Thursday has initiated a Qualified Institutional Placement (QIP) with an issue size of ₹1,000 crore, sources privy to the developments told CNBC-TV18. The indicative price for the QIP has been set at ₹5,264 per share, which is a 7.4% discount to Thursday's closing price. The company plans to utilise the proceeds to fund its working capital needs.
Indian Hotels | Data of 15 lakh users exposed in the Taj Hotels data breach is available to buy on the dark net. An Indian Hotels spokes person said that they have been made aware of someone claiming possession of a limited customer data set which is non-sensitive in nature and that they continue to monitor their systems.
Cipla | In response to the USFDA warning letter for its Pithampur unit, the drugmaker on Thursday said that it preceives no material risk to its existing commercial product portfolio. It further said that the company is in the process of executing its de-risking plan for its new products and simultaneously address the observations expeditiously. Cipla is in process of submitting the requisite response to the warning letter within the stipulated timelines.
Indian Hotels | The Tata Group hospitality firm on Thursday said it has invested ₹55 crore in Genness Hospitality and ₹35 crore in Qurio Hospitality via a rights issue. Genness Hospitality, incorporated on February 1, 2022, for a greenfield project (Vivanta Hotel) in Ekta Nagar, Gujarat, is presently under development.
JSW Steel | The Sajjan Jindal-led company on Thursday said the company has successfully completed its approved strategic investment of ₹750 crore in JSW Paints Private Ltd. JSW Steel now holds 12.84% stake in JSW Paints.
Lupin | Received approval from the United States Food and Drug Administration for its Abbreviated New Drug Application concerning Bromfenac Ophthalmic Solution, 0.07%. This approval positions Lupin as the exclusive first-to-file entity for this generic equivalent of Bausch & Lomb Inc's Prolensa Ophthalmic Solution, 0.07%.
PFC | Plans to raise 3,500 crore via unsecured, redeemable, non-convertible, non-cumulative, taxable bonds in the nature of debenture series 234. The bonds are rated AAA / Stable by CRISIL, ICRA and CARE Ratings. The bonds will have a face value of 1 lakh apiece.
NMDC | Lump ore prices fixed at 5,400 per tonne, while fines prices fixed at 4,660 per tonne. CNBC-TV18 had earlier reported about price hikes taking effect from Thursday.
L&T Finance Holdings | ADB to provide its first loan to the L&T ecosystem in the form a long-term loan worth $125 million to L&T Finance. L&T Finance to deploy the funds to support financing in rural and peri-urban areas in India particularly for women borrowers.
(Edited by : Hormaz Fatakia)
