Hero MotoCorp: The company has decided to raise the ex-showroom prices of its motorcycles and scooters from December 1. The price increase will be up to Rs 1,500 and the quantum will vary by specific models and markets. This will help the company offset any further cost impact and drive improvement in margins, the company has said.
L&T Finance Holdings: L&T Finance Holdings has completed 100 percent stake sale in subsidiary L&T Investment Management and received Rs 3,484 crore ($425 million) as consideration from HSBC Asset Management (India). The company also realised a surplus cash balance of Rs 764 crore in L&T Investment Management.
Va Tech Wabag: The Indian water technology multinational company signed an agreement with the Asian Development Bank (ADB) towards raising Rs 200 crore through unlisted non-convertible debentures (NCD). The NCDs carrying 5 years and 3 months tenor will be subscribed by ADB over a 12-month period. This will be ADB's first investment in a water sector company in India.
Shriram Properties: Subsidiary Shriprop Builders has acquired Suvilas Realities, a real estate company in Bengaluru. The deal value is Rs 30 crore for a 100 percent stake. Suvilas Realities is developing a high-rise residential apartment project Suvilas Palms in the city's Jalahalli neighbourhood .
Indian Oil Corporation: The oil marketing company has raised Rs 2,500 crore by issuing 25,000, 7.44 percent NCDs of Rs 10 lakh each on a private placement basis. IOC will utilise funds for refinancing existing borrowing or funding capital expenditure.
Indian Energy Exchange: The company got the board of directors' approval for a Rs 98-crore share buyback. The buyback price is Rs 200 a share and the maximum number of shares to be bought back would be up to 49 lakh.
Muthoot Finance: The company will raise Rs 300 crore through a public issue of secured redeemable non-convertible debentures of the face value of Rs 1,000 each. The issue is with a base issue size of Rs 75 crore with an option to retain oversubscription up to Rs 225 crore aggregating up to a tranche limit of Rs 300 crore. The issue will open on November 28 and will close on December 19.
Bajaj Finance: The company has entered into a share-purchase agreement to acquire up to a 40 percent stake in Snapwork Technologies by way of primary and secondary transactions. The company intends to strengthen the technology roadmap through this acquisition which will be completed by December 2022. The acquisition cost is Rs 93 crore.
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