SBI in spotlight on fund raising plan

State Bank of India (SBI) said that the meeting of central board of the bank is scheduled to be held on 1 July 2019 to consider raising additional tier 1 (AT1) capital by way of issuance of Basel-III compliant debt instrument in USD and/ or INR from domestic/ international market during FY 2020. The announcement was made after market hours yesterday, 26 June 2019.

Shares of Infosys will be watched. EdgeVerve Systems, a subsidiary of Infosys announced the launch of AssistEdge Engage at CCW Vegas. AssistEdge Engage is an intelligent automation platform for contact centers offering smart features that increase agent productivity, satisfaction and elevate customer experience. The announcement was made after market hours yesterday, 26 June 2019.

Shares of Mahindra & Mahindra (M&M) will be watched. Mahindra International UK (MIUL), a wholly owned subsidiary of Mahindra Overseas Investment Company (Mauritius) (MOICML) which in-turn is a wholly owned subsidiary of M&M had filed for voluntary liquidation and upon receipt of the Order dated 26 June 2019 has been liquidated and ceased to be in existence. Pursuant to the same, MIUL has ceased to be a subsidiary of MOICML and that of the company. The announcement was made after market hours yesterday, 26 June 2019.

The Finance Committee of Adani Ports and Special Economic Zone has approved the issuance of fixed rate senior unsecured notes (the Notes) aggregating to US$750 million and has approved the pricing, tenure and other terms of the Notes. The company has received Baa3 (Stable) by Moody's, BBB- (Stable) by S&P and BBB-(Stable) by Fitch for the Notes. The announcement was made before market hours today, 27 June 2019.

CreditAccess Grameen has completed a direct assignment of Rs 138.89 crore on 26 June 2019. This is the first direct assignment transaction initiated during the FY-2019-20. With this transaction, the company has completed one securitization and one direct assignment transaction totaling to Rs 249.24 crore in FY-2019-20. The announcement was made after market hours yesterday, 26 June 2019.

Welspun India has entered into joint venture with Sense Organics Import & Trading GmbH, Germany (SOIT) and has acquired 51% of the share capital, at, par, of Pure Sense Organics Myanmar (PSOML). PSOML is a company incorporated under the Myanmar Companies Act 2018 on 24 January 2018. Welspun India will be investing amounts upto US$ 140,000 during year 2019 as a part of the company's sustainable sourcing strategy. The announcement was made after market hours yesterday, 26 June 2019.

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