In today’s trade, shares of IRFC, Adani Ports, Lodha Developers, Lupin, RIL among others will be in focus due to various news developments.
Government will not exercise the oversubscription option for the ongoing Indian Railway Finance Corporation (IRFC) offer for sale (OFS) after the issue failed to get fully subscribed on the opening day. The issue, which opened for non-retail investors today, was subscribed 95% (0.95 times) of the 2% stake accounting for 26.13 crore shares.
Adani Ports
Adani Ports announced the early results of its cash tender offers to repurchase up to $495.1 million of overseas bonds, with investors tendering $196.94 million worth of notes by the early deadline. The company had offered to buy back up to $345.14 million of its 4% senior notes due 2027 and up to $150 million of its 3.1% senior notes due 2031.
Lodha Developers
Realty major Lodha Developers has acquired development rights for a prime 4.3-acre land parcel that currently houses six bungalows and other structures in south Mumbai’s upscale Malabar Hill locality, with an estimated development potential of nearly Rs 2,800 crore.
Vikram Solar
Vikram Solar on Wednesday said the direct financial impact of recent preliminary anti-dumping and countervailing (AD/CVD) duties imposed by the United States is limited for the company, even as it continues to anchor its growth strategy in India.Lupin
The Goods & Services Tax Department of Maharashtra initiated inspection and search proceedings at the registered office of Pharma giant Lupin, the company said in a release on Wednesday. However, Lupin said that the initiation of this inspection and search does not have any impact on the company’s financials, operations or other activities.
RIL
Reliance Enterprise Intelligence, a step-down wholly owned subsidiary of the RIL, today allotted 85,31,75,000 shares to Reliance Intelligence and Facebook. Post the allotment, Reliance Intelligence holds 70% of the total equity capital of REIL and the balance 30% is held by Facebook.