Foreign portfolio investors have withdrawn around Rs.20,974 crore from Indian equities so far in September, reflecting caution towards emerging markets. Higher US interest rates, elevated crude prices and a weaker rupee have contributed to the selling pressure.
Jaiprakash Power Ventures Ltd. has reached an agreement with the National Asset Reconstruction Company Ltd. (NARCL) to settle claims linked to its insolvency proceedings. The company will pay Rs.511 crore as a full and final settlement.
Lemon Tree Hotels Ltd.’s subsidiary Fleur Hotels has acquired a land parcel in Mumbai and incorporated a wholly owned subsidiary in the Maldives. The move adds to the group’s ongoing expansion of its hospitality platform.
Apollo Pipes Ltd.’s subsidiary Apollo Ceramics has acquired a 76% stake in Mazzini Tiles for Rs.40.4 crore. The transaction marks Apollo Pipes’ entry into the ceramic tiles business and expands its presence beyond its traditional piping operations.
NTPC Green Energy Ltd. has commenced commercial operations of the third phase of its subsidiary’s renewable-energy project in Kutch. The newly commissioned phase has a capacity of 9.45 MW.
Federal Bank Ltd. has established a $500 million Medium-Term Note Programme. The programme provides the bank with a framework to access international debt markets as and when funding conditions are suitable.
Canara Bank Ltd. has raised Rs.2,042 crore through the issuance of Tier-I bonds. The fundraising forms part of the bank’s capital-management programme and strengthens its regulatory capital base.
Varmora Granito Ltd. is set to launch its mainboard IPO on September 22. The company has fixed a price band of Rs.140–148 per share, with the total issue size at approximately Rs.708.02 crore.
The National Stock Exchange of India Ltd. (NSE) IPO enters its final day of subscription on Monday, September 21. The Rs.22,568.94 crore issue has crossed full subscription, with total demand standing at around 1.15 times the shares offered in the latest available data.
SpectraA Technology Solutions Ltd.’s SME IPO is scheduled to close on September 21. The issue size is Rs.42.52 crore, with the price band fixed at Rs.112–118 per share.
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