NTPC bond issue oversubscribed, raises Rs 1,000 crore
Posted on 2nd May 2016 |
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| State-run NTPC Ltd's bond issue was oversubscribed 2.8 times in just 10 minutes today after hitting the market, raising a total of Rs 1,000 crore, which would be used for capital expenditure. "NTPC's bond issue oversubscribed by 2.8 times in 10 minutes today," the company said in a statement. The company had called for offers to subscribe to its 60th series of Non-Convertible Debentures (NCDs) for an amount of Rs 500 crore with a greenshoe option of another Rs 500 crore on a private placement basis. According to the statement, bids amounting to Rs 1,400 crore were received from 17 applicants. Finally, nine arrangers were allocated Rs 1,000 crore based on their offers, the company added. Under a greenshoe option, a company can sell more shares or bonds than originally planned by the issuer. This is done if the demand for an issue proves to be higher than expected. The company said considering that the issue has a tenor of 10 years, the pricing was very competitive at 8.05% per annum translating to about 7.89% semi-annual. The proceeds of the issue will be utilised for capital expenditure, it added. NTPC is the largest power utility in the country with an installed capacity of 46,653 mw. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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