RIL shares gain 1% on General Atlantic-Reliance Retail deal announcement.
General Atlantic’s investment will translate into a 0.84 percent equity stake in Reliance Retail Ventures (RRVL) on a fully diluted basis, the company said.
The investment values Reliance Retail at a pre-money equity value of Rs 4.28 lakh crore, slightly higher than the previous two deals done at a valuation of Rs 4.21 lakh crore.
This is the third strategic investment in the retail unit of Reliance Industries within a month and the second investment by General Atlantic after a Rs 6,598.38 crore investment in Jio Platforms, the digital arm of the energy-to-retail conglomerate.
VA Tech Wabag's shares rally over 7% after 50 lakh shares allotment to Rekha Jhunjhunwala.
The shares rallied over 7 percent on Wednesday after the company allotted 5 million shares (Rs 80 crore) to Rekha Jhunjhunwala, wife of ace investor Rakesh Jhunjhunwala via preferential basis.
The company had earlier decided to raise funds worth Rs 120 crore via preferential basis.
The company in its exchange filing said, "Board of directors approved the issue and allotment of 75 lakh equity shares of face value of Rs 2 each, for cash, at a price of Rs 160 per equity share aggregating to Rs 120 crore by way of preferential issue to four investors.".
Therefore, on Tuesday, the company's Board had allotted 50 lakh shares to Rekha Rakesh Jhunjhunwala, 15 lakh shares to Basera Home Finance, and 10 lakh shares to Sushma Anand Jain and Anand Jaikumar Jain.
Buzzing | Va Tech Wabag shares rallied over 6 percent after the announcement that Rekha Rakesh Jhunjhunwala, wife of ace investor Rakesh Jhunjhunwala, will invest Rs 80 crore in the company.
The company has decided to raise Rs 120 crore via preferential issue, and on September 29, finalised the allotment of equity shares on a preferential basis.
Robust returns: This pharma stock turned Rs 1 lakh to Rs 1.85 crore in 10 years!
Dow Jones Industrial Average futures were down 7 points, or 0.03 percent, after jumping more than 150 points earlier
General Atlantic to invest Rs 3,675 crore in Reliance Retail
US-based private equity firm General Atlantic will invest Rs 3675 crore in Reliance Retail Ventures for a 0.84 percent stake, the third strategic investment in the retail unit of Reliance Industries Ltd (RIL), within a month
Reliance Retail Venture's subsidiary Reliance Retail operates India's largest retail business serving close to 640 million footfalls across its 12,000-odd
The investment values Reliance Retail at a pre-money equity value of Rs 4.28 lakh crore, slightly higher than the previous two deals done at a valuation of Rs 4.21 lakh crore
#RILGeneralAtlanticDeal | General Atlantic to invest ₹3,675 cr in Reliance Retail Ventures pic.twitter.com/YMzRB80yZm
The IPO of Likhitha Infrastructure, the Hyderabad-headquartered oil and gas pipeline infrastructure service provider, has received bids for 51.35 lakh equity shares against offer size of 51 lakh equity shares, according to the data available on the exchanges
The portion set aside for retail investors has been subscribed 2.5 times while the portion reserved for qualified institutional buyers has subscribed 1.8 percent
The price band of the issue, which will close on October 1, has been fixed at Rs 117-120 per share
The company had said it will seek shareholders' approval to raise the borrowing limit to Rs 1 lakh crore, at the AGM
Shareholders of the company, which was earlier listed as Idea Cellular, had approved a borrowing limit of Rs 25,000 crore at AGM in September 2014
In a regulatory filing, VIL said as the resolution passed by the company in September 2014 did not specify the securities premium, a necessary amendment is required to include securities premium in the borrowing powers
Broader markets also turned negative with Nifty Midcap and Nifty Smallcap indices down around 0.1 percent and 0.3 percent, respectively