CHENNAI: The Annual General Meeting (AGM) of Indian Bank approved a special resolution, enabling the public sector bank to raise up to Rs 5,000 crore through Qualified Institutional Placement, follow-on public offers, rights issue, or in combination, through one or more tranches. The special resolution was approved during the bank’s AGM held in June, the minutes of the meeting were …
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BENGALURU: MakeMyTrip has launched a two-part capital raise comprising a public equity offering and a private convertible note issuance, with the combined proceeds to be used for repurchasing a portion of its Class B shares from Trip.com Group, a travel agency headquartered in Shanghai, China.At MakeMyTrip’s last close of $100.88 apiece, the two transactions total to over $3 billion.The planned …
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MUMBAI: State Bank of India reported a net profit of Rs 18,643 crore for Jan-March quarter, down 9.9% from Rs. 20,698 crore a year ago, mainly due to a one-time provision for increased pension liabilities. The bank had implemented a uniform 50% hike in pensions and adjusted payouts for inflation through dearness relief neutralisation. As a result, total provisions rose …
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