GAGA Share Market News

[hfe_template id='11223'] [ad_1] The board of food and grocery delivery company Eternal has approved a proposal to cap foreign ownership in the firm at 49.5%, it said in a notice to the stock exchanges. The move is aimed at providing “greater operational flexibility” to its quick commerce unit, Blinkit, by allowing it to hold inventory, rather than operate solely as a marketplace, as required under India’s foreign investment rules. As of March 31, Eternal’s domestic ownership stood at 55%, the company said in a regulatory filing. “As a result, the company now qualifies as an Indian-owned-and-controlled company (IOCC) under applicable Indian foreign exchange regulations,” it said. The IOCC status will enable Blinkit to improve its margins, particularly in fragmented or unbranded categories, as well as in the established fast-moving consumer goods segment, where owning inventory allows for better margins, it said. The proposal is subject to shareholders’ approval. In Novem...

[hfe_template id='11223'] [ad_1] Indian corporates shattered fundraising records in FY2024-25, mobilizing a staggering Rs 19.96 lakh crore through a mix of equity and debt instruments, despite volatile market conditions and global economic headwinds. The data, compiled by PRIME Database, highlights a strong appetite for capital across both primary equity markets and debt channels - making it the highest ever fundraising in a single fiscal year. While market sentiment remained uneven through parts of the year, companies rushed to seize favourable windows, leading to record equity mobilisation of Rs 3.71 lakh crore - nearly double that of the previous year. The surge was powered by blockbuster IPOs, a revival in Qualified Institutional Placements (QIPs), and robust participation in private debt placements. Mainboard IPOs alone raised Rs 1.62 lakh crore. Here’s a look at the data compiled by PRIME Database: Equity fundraising doubles as IPOs roar back Total equity mobilisat...

[hfe_template id='11223'] [ad_1] Aditya Birla Fashion and Retail Limited (ABFRL) said its board has approved raising of $500 million through a combination of preferential issuance and Qualified Institutional Placement (QIP) of equity shares. The preferential issuance of $275 million will be led by the promoter group investing $150 million and Fidelity Investments investing $125 million. The promoter participation is at a premium of 17.5% over Tuesday closing price, signalling conviction in the value creation potential of ABFRL, it said. The preferential allotment will be subscribed by Fidelity Investments through its funds - Fidelity Blue Chip Growth Fund, Fidelity Blue Chip Growth Commingled Pool, Fidelity Blue Chip Growth K6 Fund, Fidelity Series Blue Chip Growth Fund & FIAM Target Date Blue Chip Growth Commingled Pool. The Board also approved an equity issuance through QIP for up to $225 million, taking the total fund raise to $500 million. "This combined fun...

[hfe_template id='11223'] [ad_1] Foreseeing Varun Beverages (VBL), PepsiCo's largest franchise bottler in India, set for outperformance, domestic brokerage firm Antique Broking has given a target price of Rs 710 on the stock while retaining their ‘buy’ rating on the same. This represents an upside of nearly 10% for the stock from its previous closing price. “We believe growth in emerging categories of energy drinks and dairy products combined with capacity expansion will support volume and margin expansion. Venturing into new geographies and categories of snacks will further aid in margin expansion,” said Antique in its report. The domestic brokerage firm believes that VBL is poised for significant growth, driven by strategic acquisitions in Africa and a strengthened financial position and its recent announcement of three acquisitions, coupled with a successful QIP, reinforces its expansion strategy and sets the stage for robust financial performance. VBL has acquire...

[hfe_template id='11223'] [ad_1] Shares of Burger King-operator Restaurant Brands Asia (RBA) today rose 3% to their day’s high of Rs 84.56 on the BSE after the company announced that its board will meet on Friday to consider raising of funds via a preferential issue, qualified institutions placement (QIP) or other methods. “Pursuant to Regulation 29(1)(d) of the SEBI Listing Regulations, we wish to inform you that a meeting of the Board of Directors (the “Board”) of Restaurant Brands Asia Limited (the "Company") will be held on Friday, December 20, 2024 to consider, inter alia, proposal for raising of funds through any or all of various methods including by way of preferential issue, qualified institutions placement or any other method as may be permissible,” said the company in its exchange filing on December 17. The company also informed that it will also consider convening an extraordinary general meeting/postal ballot process to seek the approval of the sha...

[hfe_template id='11223'] [ad_1] Shares of Wockhardt today fell by 5% to their low of Rs 1,207.15 on the BSE after the company on Wednesday announced that it had launched a qualified institutional placement (QIP) at a floor price of Rs 1,162.25. The floor price indicates a steep discount of 8.5% over the stock’s closing price on Wednesday. “We wish to inform you that pursuant to the approval of the Board of Directors of the Company at their meeting held on 28 th May, 2024 and approval of the Shareholders of the Company by way of a special resolution passed on 28th June, 2024, the Capital Raising Committee of the Company, in its meeting held today i.e. 6 th November, 2024, has inter alia considered and passed the following resolutions: (i) authorizing the opening of the Issue today, i.e. on 6 th November, 2024,” said the company in an exchange filing. “In accordance with the approval of the shareholders of the Company accorded through a special resolution passed by way of...

[hfe_template id='11223'] [ad_1] Shares of Adani Enterprises are expected to remain in focus on Friday after the company successfully raised Rs 4,200 crore in a share sale to investors via a qualified institutional placement (QIP). The company has allocated 1.41 crore shares at an issue price of Rs 2,962 each. The transaction, which was initiated after market hours on October 9 and valued at Rs 4,200 crores ($500 million), closed on October 15. "The QIP generated strong demand, attracting bids over 4.2 times the deal size from a diverse group of investors, including global long-only investors, major Indian mutual funds, and insurance companies," the company stated in a release. This achievement highlights Adani Enterprises' role as India’s largest publicly listed incubator for scalable and large-scale businesses in core infrastructure, addressing the country's needs. The company’s current incubation portfolio includes airports and roads in the transport...

[hfe_template id='11223'] [ad_1] Shares of the food delivery giant Zomato today fell by 5.4% to their low of Rs 256 on BSE after the company's board announced a meeting on October 22 to consider the plans to raise funds by issuance of equity shares by way of qualified institutions placement (QIP). The company announced QIP after market hours and Zomato's shares closed at Rs 270.30 on the NSE, falling by Rs 3.95 or 1.44% over the Wednesday price. The food and grocery delivery company had reported a Rs 253 crore net profit for the April-June quarter, compared with Rs 2 crore a year earlier, even as operating revenue rose 74% to Rs 4,206 crore. The better-than-expected performance—analysts had estimated the profit to come in at Rs 215-235 crore—resulted in the Gurgaon-based company’s share price spiking towards the tail end of Thursday’s trading session, catapulting its market capitalisation to al .. The first-quarter revenue growth was primarily delivered by rising...

[hfe_template id='11223'] [ad_1] Public sector lender Bank of Maharashtra shares are in focus on Tuesday after the bank launched a qualified institutional placement (QIP) to raise up to Rs 3,500 crore. The bank set a floor price of Rs 60.37 per share, slightly above Monday's closing price of Rs 59.8. The bank may offer up to a 5% discount on the floor price. It aims to raise Rs 1,750 crore through the base issue, with an additional Rs 1,750 crore via a greenshoe option, potentially selling up to 61 crore shares (8.6% stake) through the QIP. In April, the board approved raising Rs 7,500 crore for FY25, with shareholders approving fundraising options in June, including QIP. On Monday, Bank of Maharashtra's shares closed at Rs 60.25, up 0.7% on the BSE, while the benchmark Sensex fell 1.49%. Its shares have surged 32% in 2024 to date and 240% over the past two years, with the company currently holding a market capitalization of Rs 42,665 crore. In Q1 of FY25, Bank o...