Axis Bank in focus on QIP issue

Axis Bank informed about opening of the Qualified Institutions Placement of equity shares of face value of Rs 2 each to Qualified Institutional Buyers (QIB). The floor price in respect of the issue is Rs 661.50 per equity share. The announcement was made after market hours yesterday, 19 September 2019.

Shares of Yes Bank will be in focus. Morgan Credits (MCPL), part of the promoter group of Yes Bank has yesterday, 19 September 2019 sold 2.3% stake in the bank. The proceeds will be solely utilized to prepay substantial portion of outstanding Non-Convertible Debentures (NCDs) of MCPL subscribed by various schemes of Reliance Nippon Life Asset Management Company (RNAM).The announcement was made after market hours yesterday, 19 September 2019.

Bharat Forge said that upon fulfillment of the conditions as mentioned in the transaction documents, the company on 19 September 2019 has invested EUR 11.35 million and acquired 50% stake in Refu Drive GmbH. The announcement was made after market hours yesterday, 19 September 2019.

Indian Energy Exchange informed that the Board of Directors has considered and approved the incorporation of a wholly owned subsidiary company in India to undertake the business of developing a gas exchange for transacting, clearing and settling trades in various types of gas based contracts including all other forms/types of energy, with an initial investment upto Rs 10 crore in the form of subscribed and paid-up capital. The announcement was made after market hours yesterday, 19 September 2019.

Adani Transmission has signed Share Purchase Agreement with PFC Consulting on 19 September 2019 for acquisition of its entire stake in Bikaner-Khetri Transmission Limited (BKTL). BKTL project consists of approximately 480 ckt kms of 765kV line along with associated transpmission system. This project is primarily being constructed to establish Transmission System associated with Long Term Applications from Rajasthan Solar Energy Zone (SEZ) Part-D. The announcement was made after market hours yesterday, 19 September 2019.

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