RIL may gain on fund raising plan

Reliance Industries (RIL) said that it proposes to make an offer for issuance of non-convertible debentures (NCDs) aggregating to Rs 5000 crore on private placement basis on 8 November 2017. The net proceeds of the issue will be utilised inter-alia for refinancing of existing borrowings/any other purpose in the ordinary course of business. The announcement was made after market hours on Friday, 3 November 2017.

Mahindra & Mahindra (M&M) said that the offer price for the initial public offer (IPO) of its subsidiary Mahindra Logistics has been fixed at Rs 429 per share. The announcement was made after market hours on Friday, 3 November 2017. The IPO of Mahindra Logistics, which concluded on 2 November 2017, was subscribed 5.54 times. The company had fixed Rs 425-429 per share for the share sale.

M&M also said the board of directors of the company will meet on 10 November 2017 to consider bonus issue along with unveiling its Q2 results.

Shipping Corporation of India (SCI) reported a net loss of Rs 76.18 crore in Q2 September 2017, higher than net loss of Rs 17.77 crore in Q2 September 2016. Net sales rose 6.6% to Rs 808.22 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours on Friday, 3 November 2017.

Shares of Reliance Nippon Life Asset Management (RNAM) will be listed on the bourses today, 6 November 2017. The initial public offering (IPO) of the company had received bids for 349.29 crore shares, against total issue size of 4.28 crore shares, data on the National Stock Exchange of India (NSE) website showed. The issue was oversubscribed 81.54 times. The IPO had remained open from 25 to 27 October 2017. The issue price of the IPO has been fixed at the higher end of the IPO price band at Rs 252 per share. Reliance Nippon Life Asset Management is one of the largest asset management companies in India.

Saregama India said that there are press reports of officers from Enforcement Directorate (ED) raiding premises of certain music companies including Saregama India for alleged non-payment of royalties and other alleged offenses in relation to the same. The company clarified that it has fully cooperated with the authorities in this probe.

On 3rd November 2017, officers from ED visited Saregama's Mumbai and Kolkata offices and collected copies of certain documents in relation to the royalty payments. At this stage, the company does not envisage any material financial liability on account of the ED's probe and will keep the stock exchanges updated of any change in status or subsequent developments. The announcement was made before market hours today, 6 November 2017.

IRB Infrastructure Developers said that CG Tollway Private, a wholly-owned subsidiary of the company, incorporated for implementation of project of six laning of 124.87 kilometers of NH-79 between Chittorgarh and Gulabpura in Rajasthan has received the appointed date from the Competent Authority. Accordingly, the special purpose vehicle (SPV) has started toll collection and construction on the project from 4 November 2017. The announcement was made before market hours today, 6 November 2017.

Relaxo Footwears' net profit rose 19% to Rs 32.08 crore on 17.9% rise in net sales to Rs 459.85 crore in Q2 September 2017 over Q2 September 2016. The result was announced on Saturday, 4 November 2017.

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