Trafigura Group, a commodity trading firm, has provided $200 million in funding for VRL, while Glencore International AG, a mining and natural resource corporation, has provided $250 million.
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.
Asian markets are trading mixed today.
Japan’s Nikkei is not trading.
Recommendation: Add; Target Price: Rs 165
On the sectoral front, Nifty IT (+1.42%) and Media (+1.71%) stocks are trading with the most gains.
On Friday trading, oil prices showed little change, maintaining stability in the market.
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.