Wipro: Board approved proposal to buyback 23.75 crore shares (4.16% equity stake) at Rs 400 per share aggregating to Rs 9,500 crore. Buyback price is at premium of 6.45% to the closing prices as on Oct.13. Members of the promoter and promoter group of the Company have indicated their intention to participate in the proposed Buyback. Company also entered into a definitive agreement to acquire Eximius Design and its Indian arm for $80 million. Eximius Design is an engineering services company with expertise in semiconductor, software and systems design. The acquisition is subject to customary closing conditions and regulatory approvals and is expected to be concluded in Dec. quarter.
Bharti Airtel group entities moved to Supreme Court challenging the NCLAT order directing them to pay more than Rs 100 crore to Aircel. NCLAT had directed Bharti Airtel and Bharti Hexacom in July to pay Rs 112 crore to Aircel. Supreme Court has stayed the NCLAT order and issued a notice directing Aircel's resolution professional to reply within four weeks
Bharti Airtel, Vodafone Idea told the government that next payment is due in March 2022. (Bloomberg News)
NTPC to raise Rs 4,000 crore via issue of NCDs.
Coal India: Total coal allocation under its four e-auction windows registered about 65% to 41.4 million tons during the first half of the current financial year. With the industrial and commercial activities reviving after the un-lock, company is hopeful that the demand sustains and the sales get boosted soon.
Competition Commission of India approved proposed acquisition of shares in CG Power and Industrial Solutions by Tube Investments.
Competition Commission of India approved acquisition of solar energy generation assets by joint venture of Total Solar Singapore and Adani Green Energy.
Future Enterprises defaulted on payment of interest on NCDs worth Rs 15.14 crore which was due on Oct.12.
Jindal Polyfilms stated that proposed capacity addition at BOPP film line in Nasik plant will for 44,000 MTPA and it will be added by March, 2022 and 5,800 MTPA capacity of BOPP capacitor line will also added by Jan., 2022. On Oct.6 company had announced investment of Rs 450 crore for the above projects.
IRCTC: Railways has approved running 196 pairs of trains in the festival season. (Bloomberg News)
Punjab and Sind Bank: Three NPA accounts worth 133.46 crore declared a fraud. Bank has provided 100% provisioning as per the prudential norms.
Wockhardt: Board has approved redemption certain preference shares before its due date.
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