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Aditya Birla Sun Life AMC allots shares worth Rs 789 cr to anchor investors

Aditya Birla Sun Life Asset Management Company (AMC) on Tuesday allotted shares worth Rs 789 crores to anchor investors. The AMC allotted nearly half of the anchor investor portion to eight domestic mutual funds. The domestic funds which were allotted shares include ICICI Prudential, HDFC Mutual Fund, SBI, Axis, Invesco India, UTI, Kotak and Edelweiss. The other prominent anchor investors include Abu Dhabi Investment Authority, HSBC, Morgan Stanley Asia, amongst others. Aditya Birla AMC is looking at valuations of Rs 20,500 crore in its initial public offering (IPO)—the fourth by a domestic mutual fund house.

Godrej Industries raises Rs 750 crore through non-convertible debentures

Godrej Industries Ltd on Tuesday said it has raised Rs 750 crore through private placement of non-convertible debentures. The management committee of the board of directors of the company has on September 28 approved the allotment of 7,500 rated, listed, unsecured, redeemable, non-convertible debentures having face value of Rs 10 lakh aggregating to Rs 750 Crore to an identified investor, Godrej Industries Ltd said in a regulatory filing.

Crisil upgrades Bharti Airtel debt programme rating to AA+, stable outlook

Crisil Rating on Tuesday said it has upgraded the long term rating on the bank facilities and debt programme of Bharti Airtel to AA+ with a stable outlook. Earlier, the rating was AA with a stable outlook. The credit rating agency reaffirmed the A1+ rating on the commercial paper programme of Bharti Airtel and withdrawn its rating on Rs 1,500 crore non-convertible debentures (NCDs) of the company, as they have been fully repaid. "The rating action reflects continued improvement in BAL's (Bharti Airtel) operating metrics resulting in a healthy financial risk profile," Crisil said in its report.

Adani Group acquires 10% stake in CSC SPV's Grameen eStore

Indian conglomerate Adani Group has acquired a 10 per cent stake in government promoted CSC SPV's e-commerce subsidiary CSC Grameen eStore. CSC SPV Managing Director Dinesh Tyagi said the association with Adani Group will help meet the financial requirements of village-level entrepreneurs (VLE), who manage e-stores that provide groceries, consumer durables, automobiles etc in rural areas and small towns.

TCS signs a 5-year IT transformation deal with German bank NORD/LB

IT services major Tata Consultancy Services (TCS) has been selected by NORD/LB, a leading German commercial bank, as its strategic partner for its IT transformation. The financial details of the deal were not disclosed. NORD/LB has embarked on a transformation journey that targets a new business model by 2024, and a leaner, more agile operating model. It has partnered with TCS in this journey. As part of the five-year partnership, TCS will work with the bank to simplify and transform its application estate across businesses–financial markets, wholesale and retail banking, through application consolidation and automation.

Dish TV gets 2 months extension from Registrar of Companies to call AGM

Direct-to-Home service provider Dish TV has got a breather, as the Registrar of Companies has granted the company an extension of two months to call an Annual General Meeting (AGM) from the due date by which it ought to have been held.

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