1 / 7Axis Bank | Private sector lender is poised for a block deal scheduled for December 13, anticipating a potential shift in ownership of up to 1.1% equity, equivalent to 3.34 crore shares. The floor price for the transaction has been set at ₹1,109 per share, indicating a 1.95% discount to the current market price (CMP) at the National Stock Exchange (NSE).
2 / 7Indian Bank | Public sector bank has launched its qualified institutional placement (QIP) to raise up to Rs 4,000 crore. The lender's board has set the floor price for the issue at Rs 414.44 per share, a discount of around 5.5% from today's closing price of Rs 437.20 on NSE. The Indian Bank QIP includes a base issue size of ₹2,250 crore and can be upsized by ₹1,500 crore.
3 / 7Karur Vysya Bank | SBI Mutual Fund on Tuesday acquired shares of scheduled commercial bank for ₹190 crore through open market transactions. According to the bulk deal data available with the BSE and NSE, SBI Mutual Fund (MF) purchased a total of 1,20,00,000 shares, amounting to a 1.5% stake in Karur Vysya Bank.
4 / 7Thermax | Energy and Environment solutions provider on Tuesday said it has secured orders worth more than ₹500 crore from a leading energy conglomerate to set up five bio-CNG plants across India. These plants will be set up in Rajasthan, Madhya Pradesh, Maharashtra (2) and Uttar Pradesh, Thermax said in a regulatory filing.
5 / 7Laurus Labs | The drug firm said its wholly-owned subsidiary Laurus Synthesis Private Ltd (LSPL) underwent a comprehensive inspection by the US Food and Drug Administration at its manufacturing facility in Parawada, Anakapalli, near Visakhapatnam, Andhra Pradesh. The inspection, from December 4-12, 2023, culminated in the issuance of a Form 483 outlining five observations.
6 / 7Force Motors | The commercial vehicle maker said it has acquired a 12.21% stake in TP Surya Ltd for ₹2.68 crore. TP Surya, a wholly-owned subsidiary of Tata Power Renewable Energy Ltd, is a special-purpose vehicle focused on establishing ground-mounted solar photovoltaic power projects in Maharashtra. The completion of the acquisition is anticipated before March 31, 2024.
7 / 7KIOCL | State-owned said it has temporarily suspended operations at its pellet plant in Mangalore, effective Tuesday, December 12. The decision stems from the unavailability of "iron-ore fines," a key component of the plant's operations. The pellet plant, a crucial part of KIOCL's operations, is integral to the company's production processes.
