Jet Airways plans to raise US $ 100mn debt by March 2017 and other top corporate news of the day

India Infoline News Service | Mumbai | December 23, 2016 09:05 IST

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Nearly 90% of the shareholders present at the Indian Hotels EGM voted in favour of removing Nusli Wadia as the independent director of the company. Only 9.20% voters backed Wadia. (BL)
Sun Pharma is acquiring Odomzo, from Novartis for an upfront payment of USD175mn and additional milestone payments. (BL)
Jet Airways plans to raise USD100mn, or almost Rs6.80bn, in US dollar-denominated debt by March 2017 to refinance rupee-based loans, so that it can almost halve its borrowing rate. (ET)
Sun Pharma Advanced Research Company said the US health regulator has not approved its new drug application for Xelpros, a preservative-free eye drop. (BL)
Phoenix Mills subsidiary Island Star Mall Developers (ISML) has entered into a non-binding pact with Canada Pension Plan Investment Board (CPPIB) to acquire up to 49% in ISML over three years. (ET)
Moody's Investors Service said that Reliance Communications' ratings will "remain on review for downgrade" despite the company signing an agreement with Canada-based Brookfield Infrastructure to sell its tower assets. (BS)
Power Grid Corporation of India, should sell stakes in its projects to unlock capital for future expansion. (ET)
Engineers India Ltd will set up a 1mtpa petrochemical complex near the Kakinada port in Andhra Pradesh. (BL)
Welspun Enterprises announced plans to buy back up to 25% of its share capital at a price of Rs62/equity share. (BL)