Nazara Technologies announced its largest fund raise to boost its growth trajectory. The company’s board has approved a preferential equity issue to raise Rs 900 crore, subject to shareholder and regulatory approvals. This capital infusion will fuel strategic acquisitions, fund business expansion, and enhance the company’s ability to seize new growth opportunities.
Posts in category Business Standard
Cabinet approves recommendations for ‘One Nation, One Election’ proposal (18-09-2024)
The concept of simultaneous elections isn’t new to India, having been practiced between 1951 and 1967. Previous recommendations for its revival came from the Law Commission’s 170th report in 1999 and a Parliamentary Committee report in 2015.
Quality Power files draft papers with Sebi to raise funds via IPO (18-09-2024)
Quality Power Electrical Equipments, an energy transmission equipment and power technologies company, has filed preliminary papers with capital market regulator Sebi to raise funds through a initial public offering.
The initial public offering (IPO) comprises a fresh issue of equity shares aggregating up to Rs 225 crore and an offer for sale (OFS) of up to 1.2 crore equity shares, according to the draft red herring prospectus filed on Monday.
As part of the OFS, promoter Chitra Pandyan will offload the shares of the IPO-bound company.
The Pandyan family holds 100 per cent stake in Sangli-based Quality Power.
Proceeds from the fresh issue are proposed to be utilised for the acquisition of Mehru Electrical and Mechanical Engineers Pvt Ltd, funding capital expenditure requirements for purchasing plant and machinery.
Besides, the company will also use the funds for inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes.
Quali
Benchmarks settle lower as investors await Fed rate decision (18-09-2024)
The domestic equity market ended with minor losses on Wednesday as investors eagerly anticipated the US Federal Reserve’s interest rate decision. The benchmark Nifty 50 index closed below the 25,400 level, snapping a two-day winning streak. IT, pharma and energy stocks weighed down the market, while financial services and private banks shares witnessed buying interest.
GRSE wins order for multi-purpose vessels of 7500 DWT (18-09-2024)
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CARE Ratings reaffirms NCC’s ‘AA-‘ rating with ‘stable’ outlook (18-09-2024)
NCC said that CARE Ratings has reaffirmed its rating on the long-term bank facilities of the company at ‘CARE AA-‘ with ‘stable’ outlook.
Western Carriers (India) IPO subscribed 13.88 times (18-09-2024)
The offer received bids for 28.96 crore shares as against 2.08 crore shares on offer.
Arkade Developers IPO subscribed 29.42 times (18-09-2024)
The offer received bids for 69.94 crore shares as against 2.37 crore shares on offer.
Northern Arc Capital IPO subscribed 20.15 times (18-09-2024)
The offer received bids for 43.27 crore shares as against 2.14 crore shares on offer.
Euro near three week high against US dollar, Fed meet in focus (18-09-2024)
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