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In News

VIP Clothing: The company has recently sold its Umbergaon factory and raised Rs 10.41 crore. The capital gained by selling this asset will now be utilised in business at a different level from production, technology, innovation and marketing.

City Union Bank: The private sector lender has announced divergence in NPAs to the tune of Rs 259 crore consisting of 13 borrower accounts (with an outstanding balance of more than Rs 1 crore) for an amount of Rs 230 crore and 218 borrowers (with an outstanding balance of less than Rs 1 crore) for an amount of Rs 29 crore for the year ended March 2022. Also, there was a divergence in provisioning to the tune of Rs 40 crore for the same period. The divergence is the difference between NPAs reported by the bank and assessed by the RBI.

Jubilant Ingrevia: The company has raised Rs 150 crore via the issuance of commercial papers. The date of maturity is February 2023, with a coupon rate of 7.05 percent per annum.

Uno Minda: The company has entered into a licence agreement with Ascentec, Korea to strengthen its advance automotive sensors product portfolio. Asentec, a subsidiary of Sejong Industrial, specialises in mobility parts centred on sensors and actuators with manufacturing facilities in Korea, Vietnam and China.

Mindspace Business Parks REIT: The company has completed the issuance of commercial papers of Rs 100 crore. CRISIL has rated these commercial papers as 'A1+'. The funds will be utilised towards the working capital requirements of Mindspace REIT's asset SPVs.

Bharti Airtel: The company has entered into an agreement for the acquisition of 8 percent stake in a technology startup, Lemnisk (Immensitas Private Limited). The acquisition is under Airtel's Start-Up Accelerator Program. Lemnisk is a Bengaluru-based start-up that offers real-time marketing automation and secure customer data platform.

GAIL India: The company has raised Rs 1,575 crore via issuance of 15,750, 7.34 percent non-convertible debentures (Series-I) of Rs 10 lakh on a private placement basis.