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Burger King India plans to raise Rs 1,500 crore via securities Restaurant chain

Burger King India on Wednesday said it plans to raise up to Rs 1,500 crore through further issuance of securities. The board of directors of the company, at its meeting held on Wednesday, also approved increasing the authorised share capital to Rs 600 crore from Rs 550 crore, along with the changing of the name of the company from Burger King India Ltd to Restaurant Brands Asia Ltd, it said in a regulatory filing. The company said the board approved raising of funds by way of further issuance of securities through public and/or private offerings, including preferential issue, qualified institutions placement, further public offer or any of the permissible modes in one or more tranches.

SBI planning to offload 6% stake in AMC through initial public offer

The country’s largest lender, State Bank of India (SBI,) is planning to offload a 6 per cent stake in its mutual fund subsidiary SBI Funds Management Private Ltd (SBI mutual fund) through an initial public offer (IPO). The lender however, has not indicated a timeline for coming to the market with a public offer. The executive committee of the bank's central board has accorded approval for exploring possibilities to offload a 6 six per cent stake of the bank in SBI Funds Management Private Limited through IPO route. The move is subject to receipt of all regulatory approvals, the bank said in filing with the BSE.

SpiceJet settles disputes with Canadian plane maker De Havilland

SpiceJet said on Wednesday it has entered into an agreement with Canadian aircraft manufacturer De Havilland to settle all disputes related to the Q400 turboprop aircraft purchase agreement. "All related proceedings before the UK court and execution proceedings before the Delhi High Court have been stayed and will be withdrawn upon compliance with the settlement terms," a statement from the airline read.

JSPL to bid 'aggressively' for debt-laden steel maker NINL next week: MD

Jindal Steel and Power Ltd (JSPL) will "aggressively" bid for Odisha-based steel maker NINL, its Managing Director V R Sharma said on Wednesday. Speaking to PTI, Sharma said, “We are extremely serious about it (NINL) and will bid aggressively for the asset. This asset is more valuable to us in terms of our operations there in Odisha.” December 23 is the scheduled date for bidding for Neelachal Ispat Nigam Ltd (NINL), he said.

Japan's Osaka Gas plans to enter India's city natural gas market

Japan's Osaka Gas Co said on Wednesday it plans to enter India's city gas market as a part of efforts to expand its overseas businesses to drive profit growth. "We want to be the first Japanese company to enter the Indian city gas market as a joint venture with a foreign partner with expertise in city gas infrastructure," a spokesperson said, adding that the entry will likely happen "in the near future.“

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