Pradhan said that steel makers have ramped up LMO supplies to over 4,473 MT/day from 538 MT/day as on April 1, 2021. The minister further said that to strengthen the critical care and emergency health care infrastructure, petroleum and steel sector companies are facilitating more than 10,000 oxygenated beds.
Petrol stands at Rs 92.34 and diesel at 82.95 per litre in Delhi. (Photo: Representational)
HIGHLIGHTS
Auto fuel rates are unchanged after reaching record heights on May 14.
While the price of diesel is Rs 90.11 per litre in Mumbai, petrol rates are Rs 98.65.
After reaching record heights on Friday, petrol and diesel prices have remained unchanged for the day. The petrol in Delhi remains constant at Rs 92.34 per litre, while diesel is priced at Rs 82.95 per litre on May 15.
According to the data from the Indian Oil Corporation, in Mumbai, a litre of petrol will cost Rs 98.65 today while diesel is Rs 90.11 per litre. In Pune, the retail price of one litre of petrol stands at Rs 98.61 while a litre of diesel costs Rs 88.70. However, the country’s capital has witnessed a price hike of Rs 1.65 per litre for petrol while the price for diesel has gone up by Rs 1.88 per litre this month.
Go Air promoters’ 22.5 per cent stake in pledge with three banks
May 15, 2021
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Go Investments pledged equity shares in favour of the consortium led by Central Bank of India
About 22 per cent stake held by the promoters in Go Airlines has been pledged with three banks.
According to the DRHP filed by the company ahead of its proposed IPO, 4,50,00,000 equity shares amounting to 22.56 per cent of the pre-Issue paid up capital held by Go Investments have been pledged in favour of the consortium consisting of Bank of Baroda and BNP Paribas and led by Central Bank of India pursuant to the working capital facility of ₹2,405 crore availed by the company.
GoAir rebranded itself as Go First on May 13, 2021. | Photo Credit:
Arunangsu Roy Chowdhury
The proceeds are planned to be utilised towards “prepayment or scheduled repayment of all or a portion of certain outstanding borrowings” as well as for replacement of letter of credits with cash deposit. Budget carrier GoAir, which rebranded itself as Go First, filed preliminary papers for an initial share sale worth ₹3,600 crore.
The Wadia group-promoted carrier has been operating for 15 years and the proceeds from the initial public offer (IPO) will be primarily utilised for repayment of debt.
The airline is looking to raise up to ₹3,600 crore through sale of shares, according to the draft red herring prospectus (DRHP).