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A 51% stake in TCNS Clothing has been acquired by Aditya Birla Fashion Retail Ltd (ABFRL), making it a promoter of the women's clothing company.
Aditya Birla Capital received shares on a rights basis on Tuesday, according to the business.
The company is raising Rs 1000 crore from the issue at a price of Rs 1000 each. Investors need to apply for a minimum of 10 NCDs in a lot.
TSC Bosh, Executive Director (Infra & Logistics), REC, and PNB Chief General Manager Rajeeva signed the MoU.
The net proceeds from the fresh issue will be channeled into enhancing Fincare Small Finance Bank's Tier-1 capital base to meet future capital requirements.
A full maintenance contract with a post-warranty cost of Rs 43.22 crore, including GST, is included in the contract.
NCDs are fixed-income securities listed on BSE and NSE, offering an alternative to bank and corporate FDs for investors with medium risk tolerance
f BAF were to raise Rs100bn, valuation at CMP would moderate by 10% to 5.0x (FY25) and leverage by 16% to 4.3x. BAF’s high profitability (~5% ROAs) will enable delivering sector-leading ROEs of ~23%, even at lower leverage.
Nirma Ltd. will conduct a required open offer to all public shareholders of GLS in accordance with SEBI regulations.
Adani Group verified the formation of the entity, Dharavi Redevelopment Project Pvt Ltd, without going into further detail.