Yes Bank in focus after defering proposed QIP

Yes Bank announced after market hours yesterday, 8 September 2016 that due to extreme volatility during trading day on 8 September 2016 because of misinterpretation of new qualified institutional placement (QIP) guidelines, the bank has been advised by its appointed Merchant Bankers to defer its proposed QIP. It may be recalled that the bank had announced on 7 September 2016 opening of QIP of equity shares of face value Rs 10 each to raise up to $1 billion. The bank announced Rs 1,371.84 per share as the floor price at that time.

ICICI Bank after market hours yesterday, 8 September 2016 said that the proposed initial public offer (IPO) of its subsidiary, ICICI Prudential Life Insurance Company (ICICI Pru Life) has been approved by Registrar of Companies, Maharashtra on 8 September 2016. The offer will be open for subscription to public on 19 September 2016 and shall close on 21 September 2016. The price band has been fixed at Rs 300-334 per equity share.

Jindal Steel & Power reported consolidated net loss of Rs 1082.15 crore in Q1 June 2016 compared with consolidated net loss of Rs 542.42 crore in Q1 June 2015. Total income rose 4.34% to Rs 4686.60 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 8 September 2016. Higher revenues in Jindal Power (JPL) & Oman helped consolidated turnover rise 6% to Rs 4655 crore in Q1 June 2016 over Q1 June 2015.

Zensar Technologies announced that it has secured multi-million dollar digital transformation project from Avis Fleet in South Africa. The announcement was made after market hours yesterday, 8 September 2016. Spread over a time-period of two years, the project involves adding scalability and agility to the company's strategic technology roadmap. Zensar will enable realization of Avis Fleet's strategic project, 'Next Generation Fleet Management System'. Zensar will leverage its digital technology skills and expertise to enable Avis Fleet in improving overall customer experience and visible enhancement in the quality of service. The key business objective is to secure and grow Avis' market leadership position in this field across Africa. The overall implementation, to be divided into two phases will focus on enhancing the varied legacy technology platforms and integration of digital technologies like Agile and DevOps in building a strategic IT framework.

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