State-owned Bank of Baroda has raised Rs 4,500 crore equity capital through qualified institutional placement (QIP). The capital raising committee of the board on Wednesday approved the issue and allotment of 55,07,95,593 equity shares to eligible qualified institutional buyers at issue price of Rs 81.70 per share against the floor price of Rs 85.98 apiece, aggregating to Rs 4499,99,99,948.10, the bank said in a regulatory filing. The issue had opened on February 25, 2021 and closed on Tuesday. The committee in its meeting last week had approved raising up to Rs 4,500 crore through an issue of equity shares through QIP. The lender said total seven buyers were allotted more than five per cent of the equity shares offered in the issue.
Tata Power Company jumped 4.13% to Rs 104.55 after the company s subsidiary TP Saurya signed a power purchase agreement with Tata Steel (TSL) to develop a 15 MW solar project at Jamshedpur, Jharkhand.
The energy will be supplied to TSL under a power purchase agreement (PPA) valid for a period of 25 years from scheduled commercial operation date. The project is required to be commissioned within six months from the date of execution of the PPA.
Dr. Praveer Sinha, CEO & MD, Tata Power, said, We are glad to collaborate with Tata Steel to reduce their carbon footprint and reaffirm the Tata Group s commitment for sustainability. Presently the association is limited to Tata Steel at Jamshedpur and we look forward to working closely with them for covering all their other plants across India.
Mahindra Lifespace Developers rose 2.83% to Rs 551 after the company said it has launched its residential project Aclove , at Chandivali, Andheri in Mumbai Metropolitan Region.The real estate developer launched the project on 1 March 2021. The project is registered with Maharashtra RERA and caters to both domestic and international market. The announcement was made post trading hours yesterday, 2 March 2021.
On a consolidated basis, Mahindra Lifespace Developers reported a net loss of Rs 9.68 crore in Q3 December 2020 as compared to a net profit of Rs 1.99 crore in Q3 December 2019. Net sales dropped 17.3% to Rs 65.16 crore in Q3 FY21 over Q3 FY20.
Mahindra Lifespace Developers is the real estate and infrastructure development business of the Mahindra Group.
Maharashtra Chief Minister Uddhav Thackeray on Wednesday slammed the BJP over issues ranging from the commitment to Hindutva to the ongoing farmers agitation on Delhi borders. Asking why the Union government has not conferred Bharat Ratna on Vinayak Damodar Savarkar, the Hindutva ideologue, Thackeray said in the Assembly that the BJP should not teach Hindutva to its former ally, the Shiv Sena. Letters were sent (to the Centre) twice, seeking Bharat Ratna for Savarkar. Who confers Bharat Ratna? It is the right of the prime minister and a committee, Thackeray said. The BJP has been targeting the Shiv Sena chief for giving up his Hindutva ideology for sharing power with the NCP and Congress. Among other things, it has questioned the delay in renaming Aurangabad in central Maharashtra, named for the Mughal emperor, as Sambhajinagar.