Shareholders

Seven & I shareholder urges company for negotiations with Couche-Tard

he Canadian operator of Circle K hasn't disclosed terms or a price for its proposed buyout of Seven & i, which currently has a market value of 5.47 trillion yen ($37 billion)

NHPC secures shareholders nod to hike borrowing limit to Rs 50,000 cr

State-owned NHPC has received shareholders nod to raise its borrowing limit to Rs 50,000 crore in its annual general meeting held on Wednesday. "All resolutions set out in the notice of 48th AGM were duly approved by shareholders with requisite majority," the company said in a regulatory filing. The proposal to increase the borrowing limit from Rs 40,000 crore to Rs 50,000 crore got the 99.99 per cent votes, the filing said. The tentative debt requirement for both ongoing projects and new projects up to FY 2032-33 as per CAPEX requirements will be approx Rs 80,000 crore, which will exceed paid-up share capital, free reserves and securities premium of the company, it said.

SpiceJet Promoter Ajay Singh to dilute over 10% stake to raise Rs 3,000 cr

After the fundraising, Ajay Singh's shareholding in SpiceJet may drop to 30-35% from 47.8%

CVC Capital makes open offer to acquire 26% more stake in Aavas Financiers

The open offer was made after CVC Capital acquired 26.47 per cent stake in the company from existing shareholders, Kedaara Capital, and Partners Group

ZEE Entertainment shareholders approve plan to raise Rs 2,000 crore

Zee Entertainment shareholders have approved a plan to raise Rs 2,000 crore from the market through various routes, including issuing equity shares and qualified institutions placements (QIPs). The special resolution for "issuance of securities for an amount not exceeding Rs 2,000 crore" was passed by 78.83 per cent of the total polled votes, according to a scrutiniser report filed by Zee. "The shareholders of the company have duly passed the resolution for issuance of securities for an amount not exceeding Rs 2,000 crore with requisite majority," the regulatory filing said. The remote e-voting period for this special resolution commenced on Sunday and ended on Monday, July 15, 2024, at 5 pm. Zee Entertainment Enterprise Ltd (ZEEL) plans to raise in one or more tranches through a private placement, a qualified institutional placement, a preferential issue or a combination of them. Though the company has not specified how it plans to invest the amount, experts expect a portion of t

Raymond shareholders approve reappointment of Gautam Singhania as MD

Textiles and fabric manufacturer Raymond Ltd on Thursday said its shareholders have approved the reappointment of Gautam Hari Singhania as Managing Director for five years effective from July 1, 2024, along with his proposed remuneration. The shareholders of the company at their Annual General Meeting (AGM) held today (June 27) have approved the re-appointment of Singhania," Raymond Ltd said in a regulatory filing. Proxy advisory firm, IiAS had asked shareholders of Raymond to vote against the reappointment of Chairman & Managing Director Gautam Singhania on the board of the company. IiAS had called for an independent investigation into the accusations of domestic violence and misappropriation of funds raised by his estranged wife Nawaz Modi by the board of the company. Moreover, it has also called for Singhania and Nawaz Modi to step off the board of Raymond until the divorce-related issues are settled and the results of an independent investigation are received. Besides, IiAS

Related-party transactions: Rs 2.68 trn awaits shareholder nod next week

Tata Motors, similarly, will put proposed RPTs worth upwards of Rs 89,000 crore to a shareholder vote the same day

Orient Green Power eyeing to raise authorised share capital to Rs 2,500 cr

Orient Green Power will seek shareholders' approval to raise its authorised share capital to Rs 2,500 crore from the existing Rs 1,600 crore in its annual general meeting later this month. The proposal to raise the authorised share capital is listed on the agenda of the annual general meeting scheduled on June 28, 2024, the notice of the AGM stated on Thursday. The notice informed that to undertake a capital raising activity in the future and for other business requirements that arise from time to time, it is proposed to increase the authorised share capital from Rs 1,600 crore to Rs 2,500 crore. The increase in authorised share capital of the company and alteration of Clause V of the Memorandum of Association are subject to the approval of members of the company by way of passing an ordinary resolution in terms of Sections 13, 61 and 64 and other applicable provisions of the Companies Act, 2013, as well as any other applicable statutory and regulatory approvals, it added. The comp

Adani Energy Solutions seeks shareholders' nod to raise Rs 12,500 crore

Adani Energy Solutions will seek shareholders' approval to raise Rs 12,500 crore in its annual general meeting on June 25. The company is looking to raise funds by way of qualified institutions placement (QIP) to eligible investors through issuance of equity shares and/or other eligible securities. The board of Adani Energy Solutions on Monday approved the proposal to raise up to Rs 12,500 crore through issue of equity shares on QIP basis or other modes. According to the notice for the AGM, the company will seek the approval of the shareholders at the ensuing annual general meeting scheduled to be held on June 25, 2024. The company will also seeks shareholders' approval of a resolution to appoint a director in place of Gautam Adani, who retires by rotation and being eligible offers himself for re-appointment. The board of directors had approved the raising of funds by way of issuance of such number of equity shares having a face value of Rs 10 each and/or other eligible securities

Musk offers factory tours to investors as he seeks support for pay package

The company is making an unusual and public effort to rally support for Musk's pay

Tesla shareholders should reject CEO Musk's pay package, says Glass Lewis

The recommendation to large institutional investors may sway their vote over Musk's pay at the carmaker's June 13 annual meeting

Billionaire Peugeot family faces rare revolt by shareholders after losses

Peugeot Invest, controlled by the French clan and headed by eighth-generation scion Robert Peugeot, 74, is likely to face a group of disgruntled minority investors at an annual meeting on Friday

Debt, equity holders approve merger of IDFC Ltd with IDFC First Bank

Shareholders and non-convertible debenture (NCD) holders of IDFC First Bank have approved a proposal to merge parent IDFC Ltd with the lender. The National Company Law Tribunal (NCLT) convened a meeting on May 17 through video conferencing and other audio-visual means to consider and approve the composite scheme of amalgamation for IDFC First Bank, the bank said in a regulatory filing. The board of the bank presented the result of voting on the proposal for amalgamation before the NCLT. "We wish to inform that the resolution approving the Scheme was passed by the overwhelming majority of 99.95 per cent of the equity shareholders, representing more than three-fourths in value of the equity shareholders of the bank voting through remote e-voting and e-voting during the meeting, in terms of the provisions of Sections 230-232 of the Companies Act, 2013," the lender said. In a separate filing, it said the proposal was passed by the overwhelming majority of 99.99 per cent of the NCD ...

Zomato seeks approval from shareholders for creation of new ESOP pool

The company said that under the ESOP 2024, it will grant shares of 18.26 crore to the employees of the company

Investors ask TotalEnergies to split CEO, board chair roles ahead of AGM

The proposal was put forward by 19 international investors holding roughly 20 million TotalEnergies shares, together with Swiss pension fund investor group Ethos Foundation

Edtech company Byju's shareholders approve $200 million rights issue

The culmination of the rights issue will also set the stage for the launch of Byju's 3.0, the suite of AI-first products

Buybacks and their importance

Paying money back to shareholders does not mean that you have no growth. It may simply mean that you do not need all the capital you generate for your core business

Byju's EGM: Shareholders don't object to raising authorised share capital

Shareholders of edtech major Think and Learn, owner of Byju's brand, raised no objection to the resolution to increase authorised share capital of the company in the extra-ordinary general meeting held on Friday, company sources said. According to the sources, none of the miffed investors, who proposed to oust Byju's founder and family from the management seat, took part in the meeting. "Meeting started at 10 am with approximately 20 investors representatives in attendance along with Think & Learn management. The requisite quorum required for EGM was there. Few questions regarding the postal ballot were asked and answered by the chairman and CS. Resolutions were called out. No objections raised," sources said. Byju's held the EGM (extra-ordinary general meeting) to increase authorised share capital of the company to complete the process for raising USD 200 million through rights issue. A group of four investors -- Prosus, General Atlantic, Sofina, and Peak XV -- along with support

IL&FS seeks nod to sell insolvent companies without shareholders' approval

IL&FS group has approached the NCLAT to seek permission to sell its stake with a "haircut" and without shareholders' approval in its companies, which are insolvent with unsustainable debts and placed under the Category II list of resolution framework. The government sought time to file a reply from the National Company Law Appellate Tribunal (NCLAT) in the last hearing earlier this week over IL&FS' interim application to sell a stake in group entities falling under Category II, whose highest bid amount was lesser than their debts. In this process, "lenders, as well as shareholders, would anyway have to take a haircut for their respective debt/ and equities," IL&FS said, adding that it would also ensure the revival of such entity, balancing the interests of stakeholders. The resolution of such companies is in line with the process followed under the Insolvency & Bankruptcy Code, where the requirement of seeking consent from shareholders is dispensed with, IL&FS has .

Proxy companies give approval for ICICI Securities delisting bid

Move will see ISec become wholly-owned subsidiary of ICICI Bank