SBI in spotlight after Committee's nod for fund raising

State Bank of India (SBI) announced that the Committee of Directors of the bank at its meeting held yesterday, 21 December 2015, inter-alia authorized the bank to raise upto Rs 12000 crore by way of issue of Basel Ill compliant Tier II bonds, at par, through private placement. The announcement was made after market hours yesterday, 21 December 2015.

Allahabad Bank announced that it has successfully raised Basel III compliant Tier 2 bonds aggregating Rs 1000 crore through private placement. The announcement was made after market hours yesterday, 21 December 2015.

State Bank of Travancore announced after market hours yesterday, 21 December 2015, that the executive committee of the board of directors of the bank is scheduled to meet on 28 December 2015, to consider raising upto Rs 1250 crore by issuing Basel III compliant Tier II bonds. The issue parameters will be decided in the meeting, the bank added.

Strides Shasun after market hours yesterday, 21 December 2015, announced the closure of qualified institutional placement (QIP) of shares. The QIP issue began on 17 December 2015. The company approved an issue price of Rs 1,278 per equity share for the QIP. The issue price was at a discount of 4.97% to the floor price of Rs 1,344.78 per equity share. It may be recalled that Strides Shasun had in September 2015 decided to raise long term funds by various means for an amount upto Rs 1500 crore including a green shoe option.

Housing Development and Infrastructure (HDIL) will be watched. With reference to the media report suggesting, "HDIL completes sales of Kurla Land to DK Realtor Rs. 649 Cr", HDIL confirmed after market hours yesterday, 21 December 2015, that it registered a development agreement with DK Realty (India) to sell the development rights in respect of the piece and parcel of land situated at Kurla, Mumbai for a consideration of Rs 649.51 crore. Further, the company added that since it is into real estate business, the company repeatedly enters into such development agreements with various entities and the same is a part and parcel of the company's principal business.

Tide Water Oil (India) announced after market hours yesterday, 21 December 2015, that its board of directors will meet on 15 January 2016, to consider declaration of bonus issue and stock split for the shareholders at such rate/ratio to be decided therein.

eClerx Services announced after market hours yesterday, 21 December 2015, that the stakeholders' relationship committee of the company approved the issue and allotment of 1.01 crore bonus shares of Rs 10 each to the shareholders of the company in the ratio of one bonus share for every three shares held as on the record date i.e. 18 December 2015.

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