According to Aditya Birla Capital Ltd., the preferential issuance would take place at a cost of Rs 165.1 per equity share and is pending approval from shareholders.
The floor price for the two-day OFS is set at ₹225 per share.
Analysts of IIFL Securities see Power demand growing at 5-7% in FY24, even if some industrial load switches back to captive units.
ICICI Bank can retain a stake of more than 30% but keep it below 48.02% of the company’s paid-up capital.
Recommendation: Add; Target Price: Rs 165
NTPC is also planning to come up with initial public offering for its renewable energy arm NTPC Green Energy Ltd (NGEL) to raise funds
The introduction of the Paytm UPI SDK is an additional feature within the existing UPI acquiring arrangement between Paytm Payments Services Ltd. and Paytm Payments Bank.
Recommendation: Reduce; Target Price: Rs 697
Recommendation: Buy; Target Price: Rs 220
Recommendation: Buy; Target price: Rs. 510