Page 4 - Shareholders

HDFC Bank distributes Rs 42 cr to fractional shareholders of HDFC Ltd

HDFC Bank on Thursday said it has distributed Rs 42.40 crore to fractional shareholders of HDFC Ltd through a trust created after the merger with its parent. The reverse merger of HDFC Bank with HDFC Ltd was effective from July 1, 2023. As per the Composite Scheme of Amalgamation, HDFC Bank will issue and allot to eligible shareholders 42 new equity shares of the face value of Re 1 each, credited as fully paid-up, for every 25 equity shares of the face value of Rs 2 each fully paid-up held by such shareholders in HDFC Ltd as on the record date -- July 13, 2023. The fractional entitlements were consolidated, and the aggregate of such fractions was rounded up to the next whole number and allotted directly to 'HDFC Bank Unclaimed factional amount 2023', a trust managed by Axis Trustee Services Ltd, the bank said in a regulatory filing. HDFC Bank did not issue fractional shares, entitlements or rights to any shareholders of erstwhile HDFC Ltd. However, it said, all fractional entitlem

Regulatory relook: Move to push firms away from in-house RTAs on the cards

Sebi looking to increase networth requirement, other measures; may float discussion paper

Ashneer Grover calls out officials for asking for ITR of shareholders

Ashneer Grover asked the finance ministry to look into the Income Tax Department's practice of asking for details of the ITRs of shareholders

Wire and cables maker RR Kabel aims to raise $236 million via IPO

The Mumbai-based company, backed by private equity firm TPG, will issue new shares worth Rs 180 crore, as per its prospectus dated Sept. 6

Birla Corp plans expansion, eyes 25 million tonnes capacity by FY26

Birla Corporation's consolidated capacity stands at around 20 mt after commissioning of the 3.9 mt greenfield plant at Mukutban in Maharashtra at the beginning of FY23

ACC, Ambuja Cements face resistance from shareholders to adopt FY23 results

The resolution at Adani-owned ACC and Ambuja Cements was still passed with the support of promoters

Morgan Stanley profit drops 18% in second quarter as deal doldrums persist

Global M&A activity fell 36% in the second quarter versus a year earlier, according to Dealogic. Still, its climb from the first quarter has sparked hopes of a nascent recovery

PTC India shareholders approve appointment of Rajib Kumar Mishra as CMD

PTC India shareholders have approved the appointment of Rajib Kumar Mishra as the company's Chairman and Managing Director with requisite majority votes. According to a regulatory filing, shareholders approved an ordinary resolution to appoint Mishra as Chairman and Managing Director (CMD) at the seventh Extra Ordinary General Meeting (EGM) held on June 28. As per the voting result, 77.71 per cent of votes were in favour of the ordinary resolution and 22.29 per cent against the proposal. Mishra has been appointed as the CMD in PTC India with effect from March 29, 2023. He was named as the Whole-time Director of the company with effect from February 24, 2020, up to February 23, 2025, or the age of 62 years -- whichever is earlier, by the members of the company at their annual general meeting (AGM) held in September 2020. Mishra, about 60 years of age, is PhD (Business Administration) from Aligarh Muslim University. He joined PTC Board on February 24, 2015, as Director (Marketing a

Havells clarifies after CMD's Rs 28 cr salary questioned by shareholders

According to a regulatory filing by the company, the shareholders had sought clarification at the upcoming AGM of the company on June 27, 2023

Institutional shareholders vote against reappointment of Bharat Forge MD

Proxy advisory firms had recommended that investors vote against the special resolution to appoint B N (Baba) Kalyani as the managing director of Bharat Forge, citing his excessive remuneration

Netflix shareholders reject executives' pay packages amid writers' protest

The decision came after the Writers Guild of America sent a letter to the public urging the shareholders of Netflix to reject the new compensation plans

Dish TV's minority shareholders reach out to ministry on EGM delay

The company's minority shareholders are demanding a rejig of the company's board and the appointment of a new management team to put the DTH provider back on the profitability path

Dish TV EGM on June 9 to appoint new directors on creditors' call

Lenders in talks with rivals to sell stake after the board is reconstituted

Reliance shareholders, creditors approve demerger of financial services arm

Shareholders and creditors of Reliance Industries have approved a plan to demerge the company's financial services arm, Reliance Strategic Ventures Ltd (RSIL). In filings with the stock exchanges, Reliance said that it received 99.99 per cent of votes in favour of the demerger in a shareholders' meeting that happened on May 2. As many as 99.99 per cent of unsecured creditors voted in favour of the resolution while 100 per cent of secured lenders were in favour of the plan. One share of the demerged company with a value of Rs 10 each will be issued for every share held in Reliance. Post demerger, RSIL will be rechristened as Jio Financial Services Ltd (JFSL). According to Jefferies Research, all necessary approvals for the listing of shares of JFS should be in place by September. "JFS will commence lending activities immediately and proceed for regulatory approvals for asset management, life and general insurance. Regulatory approvals are expected to take 12-18 months." The Mukesh

Shareholder count in all 10 Adani stocks jumps despite Hindenburg storm

Adani Enterprises and Adani Ports-both part of the benchmark Nifty 50 index-saw the highest increase in number of shareholders, mainly individual investors

Lock, stock, and over a barrel for firms with April lock-in expiry date

Newly listed stocks in focus

No 'negative impact' after promoter shareholding freeze: Patanjali Foods

Company backed by yoga guru Baba Ramdev failed to meet Sebi's public shareholding rule within deadline

SVB: Shareholders sue Silicon Valley Bank parent, CEO, and CFO for fraud

The lawsuit is the first among many that can be filed over the collapse of the bank and takes on Silicon Valley Bank's parent company, CEO Greg Becker, and CFO Daniel Beck

Apple faces scant shareholder dissent at its annual shareholder meeting

A preliminary tally of the votes showed that the four measures Apple supported, including its board slate and compensation, were approved Friday

Sebi proposes change in governance norms to give more power to shareholders

Such rights are against the fundamental principles of corporate governance and shareholder democracy, according to the regulator