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SBI, Aarti Drugs, CEAT in focus

Capital Market 

SBI said that the Committee of Directors for Capital Raising accorded its approval to allot 70,000 Basel III compliant Non-convertible, Taxable, Redeemable, Subordinated, Unsecured, Fully Paid-up Debt instruments in the nature of debentures qualifying as Tier II Capital of the Bank, of face value of Rs 10 lakh each, at par, bearing a coupon of 6.24% p.a. payable annually for a tenor of 10 years with call option after 5 years and on anniversary dates thereafter, aggregating to Rs 7000 crore to Bond Subscribers.

Aarti Drugs has fixed 1 October 2020 as the record date to determine the eligible shareholders entitled to receive the bonus shares. Earlier, the company had recommended issue of bonus shares in the ratio of 3:1 i.e. 3 bonus shares for 1 share held.

CEAT said that the meeting of the Board of Directors of the company is scheduled on 25 September 2020 through audio-visual means, to consider and approve the proposal for raising of funds through issuance of Non-convertible Debentures on private placement basis.

GMM Pfaudler said its promoter propose to sell 25.71 lakh shares through an offer for sale, floor price set at Rs 3,500 per share on September 22-23.

HSIL said its board approved buyback of up to Rs 70 crore worth of shares at Rs 105 per share from the equity shareholders / beneficial owners of the equity shares of the company (other than the promoters, the promoter group and persons in control of the company).

Shree Renuka Sugars said that the Allotment Committee of the Board of Directors of the Company, has considered and approved the allotment of 21,16,70,481 equity shares of Re. 1 per share, for cash at a price of Rs 8.74 per share aggregating to Rs. 185 crore on preferential basis to Promoter, Wilmar Sugar Holdings Pte Ltd.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, September 22 2020. 08:30 IST