Page 2 - Shareholder

Torrent Power seeks shareholders nod to raise up to Rs 5,000 cr via equity

Torrent Power on Friday said it will seek shareholders' approval to raise up to Rs 5,000 crore through equity shares. The approval will be sought in the annual general meeting scheduled on July 30, 2024. In a notice, the company said there is an ongoing requirement of working capital and capex for upgradation/ expansion of the company's power generation, distribution businesses and ongoing projects. The generation of internal funds may not be adequate to meet all the requirements of the company's growth plans, it stated, adding that the requirement of funds is proposed to be met from both equity and debt from issuance of appropriate securities and from both domestic and international markets. The company's board, in a meeting held on May 22, 2024, recommended to the members to give their consent to raise up to Rs 5,000 crore through the issuance of equity shares and/ or Foreign Currency Convertible Bonds (FCCBs) and/ or convertible bonds/ debentures or any equity-linked instrument/

Schneider Electric Infra seeks nod to raise borrowing limit to Rs 900 cr

Schneider Electric Infrastructure will seek shareholders' approval to raise its total borrowing limit to Rs 900 crore from the existing Rs 550 crore through postal ballots. The e-voting for postal ballot will start at 9 am on Thursday and end at 5 pm on Friday, as per a BSE filing. The filing explained that the members, vide a special resolution passed through postal ballot on June 21, 2020, approved and authorised the board with the total borrowing limits up to Rs 550 crore. With an objective to have a scope for restructuring the financing avenues between external banks and intercompany loans with a headroom for future requirements to support business operations and working capital, the approval to increase borrowing limits is sought from the shareholders, it said. The company has proposed to enhance the borrowing limits, in excess of the aggregate of its paid-up share capital, free reserves and securities premium as per the latest annual audited financial statements, from the ...

Tata Steel fixes Jan 19 as record date to allot shares to TCIL shareholders

Tata Steel has fixed January 19 as the record date to determine the shareholders of TCIL, for allocating the company's shares as per the scheme of amalgamation. Tata Steel is in the process of merging several of its subsidiary companies, including Tinplate Company of India Limited (TCIL), into itself. "The Board has approved Friday, January 19, 2024, as the record date for the purpose of determining the shareholders of TCIL who shall be entitled to receive fully paid-up ordinary equity shares of the company in the share exchange ratio as per the scheme of amalgamation," Tata Steel said in a BSE filing on Monday. The company will issue and allot fully paid-up equity shares to those shareholders of TCIL, whose names would appear in the register of members on the record date, in ratio of 33 fully paid-up equity shares of Re 1 each for every 10 fully paid-up shares of Rs 10 each held by such members in TCIL, it said. Tata Steel is among the top three steel-producing companies in India

Record buyback of Rs 47,810 cr by 48 firms in 2023, highest in 6 yrs

A buyback is a process a company employs to repurchase its shares from stakeholders

Voting matters: Shareholder dissent is moderating, says PRIME Database

The data-tracking firm analysed resolutions voted on during AGMs, EGMs, and court-convened meetings between April 1 and September 30, 2023

Dividends triumph over buybacks despite potential for higher tax payouts

Share of buybacks in reward kitty drops to lowest in seven years

InGovern seeks deferment of two resolutions floated by Finolex Cables

Says corrigendum notice not issued 21 days prior to AGM

IDFC First Bank's MD and CEO V Vaidyanathan to raise stake in bank

GQG Partners acquires shares of IDFC First Bank through block deal

REC gets shareholders' nod to hike overall borrowing limit to Rs 6 trn

State-owned REC Ltd has received shareholders' approval to increase the overall borrowing limit of the company from Rs 4.5 lakh crore to Rs six lakh crore in its 54th annual general meeting held on Wednesday. "All the resolutions as set out in the Notice of 54th AGM, including addendum thereof, have been duly approved & passed by the shareholders with requisite majority," a BSE filing said. The 54th AGM of REC Ltd was held on September 6, 2023. The special resolution to increase the borrowing limit of the REC from Rs 4.5 lakh crore to Rs six lakh crore was listed in the agenda of the AGM. Besides, the shareholders also approved a special resolution for raising funds through private placement of unsecured/secured non-convertible bonds/ debentures up to Rs 1,05,000 crore in one or more tranches till September 5, 2024.

'It's a good thing': Why BAT sees value in holding on to ITC stake

Working with Indian cigarette maker for new nicotine product would be 'massive opportunity', says BAT CEO

Jack Ma-backed Ant to buy back shares at 70% lower valuation than at IPO

The limited partners also committed to retaining the two dividends in 2022 with Hangzhou Junhan and Hangzhou Junao to enhance the operation's capital strength

NDTV's shareholders approve appointments of new directors on board

Shareholders of the Adani-group-controlled NDTV have approved the proposals to appoint new directors to the board after Adani Group acquired the media firm. All special resolutions regarding the appointment of - Sanjay Pugalia and Senthil Sinniah Chengalvarayan - as directors, and U K Sinha and Dipali B Goenka as independent directors have got shareholders' nod through the e-voting process. Besides, another special resolution for approval of remuneration payable to Non-Executive Directors, including Independent Directors of the Company, was also approved, said the details of the voting results and scrutiniser's report on the postal ballot shared by NDTV to bourses. The e-voting period commenced on May 27, 2023, and ended on June 25, 2023. Meanwhile, NDTV's board has also approved the appointment of former bureaucrat Dinesh Kumar Mittal as an Additional Director in the capacity of Non-Executive Independent Director of the Company, subject to the approval of the Ministry of Informat

GE T&D India gets shareholders' nod to appoint Sandeep Zandaria as MD, CEO

GE T&D India has got shareholders' approval through a postal ballot notice to appoint Sandeep Zanzaria as Managing Director and Chief Executive Officer of the company. "All the resolutions as set out in the Notice of the Postal Ballot dated April 17, 2023, have been passed by the shareholders with the requisite majority," a BSE filing stated. The shareholders have passed two resolutions, firstly they approved the appointment of Zanzaria as Managing Director and Chief Executive Officer of the company. The second resolution for the appointment of Zanzaria as a Director not liable to retire by rotation was also approved by the shareholders through the postal ballot.

ONGC to maintain financial flexibility as earnings steady, says S&P

This should help the company maintain its good credit quality, despite its investment plans and healthy shareholder distributions, the rating agency said in a statement

IT major Infosys rewards employees with equity shares under 2 schemes

Under the 2015 Stock Incentive Compensation Plan, 104,335 equity shares were allotted and 407,527 shares were allotted under the Infosys Expanded Stock Ownership Program 2019

Volkswagen's annual meeting hit by protests over climate strategy, China

While weathering criticism over its China presence, VW is dealing with the pressing task of stemming a slide in market share in its biggest market

HSBC Holdings' shareholders dismiss call for strategy, dividend switch

About a fifth of voting investors backed the call for HSBC to report regularly on the possibility of carving out its Asian unit, while 19.2% supported lifting its dividend to its pre-pandemic level

Share market reverse intraday losses on Wed, shrug off US recession fears

Analysts also anticipated caution from investors ahead of the U.S. Federal Reserve rate decision on May 3. The odds of a 25-basis point rate hike stand at 80.7%

Sebi clarifies on shareholders' approval for directors appointment on board

Listed public sector companies, including banks, will be required to take shareholders' approval for any appointment or reappointment to the board of directors in the immediate next general meeting, capital markets regulator Sebi has clarified. In case shareholders do not clear resolution for the appointment, such a person would cease to be a director, it added. Providing informal guidance to state-owned Bank of Baroda, the Securities and Exchange Board of India (Sebi) indicated that its views might differ on a case-to-case basis. The clarification came after Bank of Baroda sought informal guidance in relation to amendments made in LODR (Listing Obligations and Disclosure Requirements) rules pertaining to shareholders' requirement for appointment on the board. The bank has sought clarification on the status of government-appointed directors in a scenario where resolutions put for appointment are rejected by shareholders and whether the government can participate in such a ...

What are AT1 bonds, and why are Credit Suisse's worth $17 bn now wiped out?

The wipeout of $17 billion worth of AT1 bonds in the UBS-Credit Suisse deal has spooked investors as they now assess if this can happen to their AT1 holdings in other banks as well