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Government to acquire Vodafone Idea stake after share price stabilises at Rs 10 or above

The government will acquire a stake in debt-ridden Vodafone Idea after the stock price of the company stabilises at Rs 10 or above, according to an official source.

Vodafone Idea (VIL) board has offered a stake to the government at a par value of Rs 10 per share. "There is a SEBI norm that the acquisition should take place at par value. DoT will clear the acquisition after VIL shares stabilise at Rs 10 or above," an official source told PTI.

Coal price hike remains difficult for CIL: Chairman tells analysts

Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with high inflation. The miner was seeking to raise prices to mitigate high input costs on account of high diesel and explosives prices, among others. Coal India has not raised prices in the last four years

BPCL plans to load 700k barrels of Russia's Sokol cargo in Sept: Report

Indian state-refiner Bharat Petroleum Corp is re-attempting to charter a ship to load 700,000 barrels of Russia's Sokol crude oil this month, sources familiar with the deal said. The Sokol cargo had been one of two sold by ONGC Videsh, the overseas investment arm of and Natural Gas Corp to refiners Hindustan Petroleum Corp and BPCL in March.

Adani open offer for additional stake in NDTV starts Oct 17: JM Financial

The Adani Group will launch its open offer for acquiring an additional 26 per cent stake in media firm New Delhi Television Ltd (NDTV) from October 17 to November 1, JM Financial, which is managing the offer, said in a draft letter of offer (DLOF), on Thursday. The open offer for acquiring up to 1.67 crore equity shares, for which a price of Rs 294 per share has been fixed, will amount to Rs 492.81 crore, if fully subscribed.

Varde Partners to pick up 15% in Reliance Power for Rs 933 crore

Reliance Power on Thursday said that it would raise Rs 933 crore through a private placement of shares to VFSI Holdings, an affiliate of investment firm Varde Partners. This would result in VFSI picking up a 15 per cent stake in the company. The announcement comes within days of Reliance Power stating that it would raise upto Rs 1,200 crore from Varde Partners, a global alternative investment firm specialising in credit and credit-related assets.

Future Lifestyle Fashions gets three-month extension for holding AGM

Future Lifestyle Fashions Ltd (FLFL) on Thursday said it has received a threemonth extension from the Registrar of Companies for holding its Annual General Meeting. The Future group firm has received a letter from the Registrar of Companies Mumbai, Maharashtra, on Thursday, granting an extension for a period of three months for holding the AGM till December 31, 2022, the company said in a statement.

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