Key News - ICICI Bank, L&T, Future Enterprises, Tata Motors, Sebi By ARETE Securities
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Key News
ICICI Bank to raise Rs 8,000 cr via bonds for transport, power projects
Private sector lender ICICI Bank is planning to raise up to Rs 8,000 crore through infrastructure bonds to finance projects in the transport and power and affordable housing sectors.
Debt market sources said while the private lender is raising up to Rs 8,000 crore in the current round, rating agency CRISIL has assigned “AAA/Stable” for Rs 10,000 crore of bonds. Lenders have always an option to raise money in tranches.
The issue size is Rs 500 crore with a green shoe of Rs 7,500 crore. The interest rate scenario is unclear due to volatility in markets. The highly rated long-term paper (10-year) from corporate would see a coupon of around 7.25-30per cent range, bond dealerssaid.
L&T launches B2B e-commerce platform L&T-SuFin to expand service biz
In line with its strategy to grow its presence in the services business, Larsen & Toubro on Monday announced the launch of L&T-SuFin an integrated ecommerce platform for B2B industrial products and services.
With over eight decades of experience in the manufacturing and EPC projects, L&T has developed the platform to target MSMEs in order to enable them to source their industrialsupplies pan-India, digitally.
Future Enterprises to hold meetings with shareholders, creditors in April
Future Enterprises Ltd will hold meetings with its shareholders and creditors in April after the National Company Law Tribunal (NCLT) passed an order allowing Future Group companies to convene and conduct meetings of its shareholders and creditors to seek their approval for the scheme which allows Future Group to sell its retail, logistics and warehousing businesses to Reliance Industriesfor almost Rs 25,000 crore, a deal it signed in 2020.
In a stock exchange filing, Future Enterprises said that it will hold a meeting of members of the company on April 20 and a meeting with its secured and unsecured creditors of the company will take place on April 21.
Tata Motors bags order for 65 electric vehicles from KSEB
Homegrown auto major Tata Motors on Monday said it has bagged a contract for 65 electric vehicles (EVs) from Kerala State Electricity Board (KSEB).
The order includes 60 Tigor EVs and 5 Nexon EV SUVs. It is part of a competitive pan-India tender floated by KSEB in line with the state's vision 'Go Green/Carbon Neutral' by 2030, Tata Motors said in a statement. The Tigor EV has an ARAI certified range of 306 km on a single charge. It is equipped with a 26-kWh high energy density lithium-ion battery pack, with a peak power output of 55 kW and is capable of accelerating from 0 to 60 kmph in 5.7 seconds.
Sebi asks Dish TV to disclose December AGM results within 24 hours
Capital markets regulator Sebi on Monday directed Dish TV India Ltd to immediately disclose the results of its annual general meeting (AGM) held on December 30, 2021 to the exchanges. The order comes after Sebi received complaints from Yes Bank Ltd (YBL), IndusInd Bank and other shareholders alleging that Dish TV has wrongfully withheld the results of voting on various proposals put forth in the AGM.
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