Posts in category Business Standard
Japan Nikkei climbs 0.9% (27-03-2024)
At closing bell, the 225-issue Nikkei Stock Average index was up 364.70 points, or 0.9%, to 40,762.73. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 18.48 points, 0.66%, to 2,799.28.
Welspun Corp arm to invest Rs 2,355-cr in multiple states (27-03-2024)
The Mumbai-headquartered company said that its wholly owned subsidiary, Sintex-BAPL has finalised an investment of upto Rs 2,355 crore to set up manufacturing units in the states of Telangana, Odisha, Madhya Pradesh and Jammu & Kashmir.
Co-working space provider BHIVE eyes IPO at issue size of Rs 500 cr by 2025 (27-03-2024)
Backed by Blume Ventures, BHIVE expanded into the Mumbai-Pune region, securing office space at Adani's tower in BKC with an investment of Rs 25 crore
Quick Wrap: Nifty Infrastructure Index rises 1.08% (27-03-2024)
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P N Gadgil Jewellers files papers with Sebi to garner Rs 1,100 cr via IPO (27-03-2024)
Jewellery retail chain P N Gadgil Jewellers Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,100 crore through an initial public offering (IPO) to fund its expansion and pare debt.
The Maharashtra-based company's proposed IPO is a combination of a fresh issue of equity shares worth up to Rs 850 crore and an offer for sale (OFS) of equity shares to the tune of Rs 250 crore by a promoter SVG Business Trust, according to the draft red herring prospectus (DRHP).
At present, SVG Business Trust holds 99.9 per cent stake in P N Gadgil Jewellers.
Of the IPO proceeds of Rs 850 crore, a total of Rs 387 crore will be utilised for the funding of expenditure towards setting up of 12 new stores in Maharashtra, Rs 300 crore for payment of debt, besides a portion will also be used for general corporate purposes.
As on February 29, 2024, the company had total outstanding borrowings of Rs 377.45 crore, as per the draft papers filed last week.
P N Gadgil Jewellers
Chalet Hotels gains on launching QIP; floor price at Rs 780.76/share (27-03-2024)
Chalet Hotels rose 1.35% to Rs 872.90 after the company's board approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 780.76 per share.
Market ends with strong gains; Nifty closes above 22,100 (27-03-2024)
As per provisional closing data, the barometer index, the S&P BSE Sensex jumped 526.01 points or 0.73% to 72,996.31. The Nifty 50 index gained 118.95 points or 0.54% to 22,123.65.
Sintex to invest up to Rs 2,355 cr to set up manufacturing units (27-03-2024)
The investment will be spread over the next two financial years starting from FY25 to FY26 and the projects will be funded through a
combination of debt and equity.
Tata Motors unit join hands with HPCL to set up EV charging stations (27-03-2024)
The auto major said that its electric mobility unit, Tata Passenger Electric Mobility (TEPM) has signed a memorandum of understanding (MoU) with Hindustan Petroleum Corporation (HPCL) to set up 5,000 electric vehicle charging stations across India.
Infosys announces strategic collaboration with Handelsblatt Media Group (27-03-2024)
Infosys announced a strategic collaboration with the Handelsblatt Media Group, a leading media company for business and financial information in Germany. As an AI and Digital Innovation Partner for the Handelsblatt Media Group, Infosys will bring the best of digital technology to power innovative storytelling to inform and delight Handelsblatt's core audience.