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GQC may pick up stake in adani cements business:

The Adani Group is likely to make an announcement early this week on selling a stake in its cement business, with Australia-listed and Florida-based investment firm GQG Partners being one of the probable buyers, the Hindu businessline reported on March 12 citing sources.The report also suggested that more fundraising — somewhere in the region of $1.7 billion — will take place before the end of March. It is understood to be in talks also with a sovereign wealth fund and a corporate investment firm that could pump in money for small stakes in group companies, Businessline added citing sources.Meanwhile, the Adani Group earlier today stated that it has completed full prepayment of margin-linked share-backed financing aggregating to $2.15 billion, before the committed timeline of March 31, 2023

Adani Group prepays entire financing for Ambuja Cements acquisition:

As part of their debt pre-payment plan, the Adani group has fully paid margin-linked share-backed financing of $2.15 billion before the March-end deadline.Besides, the promoters have also prepaid a $500-million facility taken for Ambuja acquisition financing. This is in line with promoters’ commitment to increase equity contribution and they have now infused $2.6 billion out of the total acquisition value of $6.6 billion for Ambuja and ACC, the company said in a statement on Sunday.

M&M to sell 4.6% stake in Mahindra CIE via block deal:

Auto major Mahindra & Mahindra is likely to sell 4.6 percent stake in automotive component supplier Mahindra CIE Automotive Ltd at a floor price of Rs 355 per share, sources told CNBC-TV 18 on March 12.

The base size of the block deal is likely to be at Rs 615 crore with a 60-day lock up period on further sale of shares, the sources added.

Godrej Industries plans to raise Rs 1,000 cr via bonds pvt placement basis:

Godrej Industries, part of Godrej Group, plans to raise Rs 1,000 crore through an issue of bonds on a private placement basis. "The management committee of the board of directors of the company has on March 10, 2023, inter alia, approved the placement memorandum/ information memorandum for issuance of up to one lakh rated, listed, unsecured, redeemable, NCDs (Non-Convertible Debentures) having face value of Rs one lakh only each, aggregating up to Rs 1,000 crore on private placement basis," said Godrej Industries in a late-night regulatory filing on Friday.

The issue has been divided into two tranches of 25,000 NCDs with a face value of Rs 1 lakh each.

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