Stock that will see action today: 10 December 2024

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The board of Vodafone Idea has approved the issuance of up to 175.53 crore shares on a preferential basis to two Vodafone Group entities to raise up to Rs 1,980 crore.The debt-ridden telco pegged the issue price at Rs 11.28 per equity share. The relevant date for determining the floor price of the preferential issue is December 6, 2024, the company informed.

Patanjali Foods Ltd has informed the exchanges that Central Ground Water Authority has imposed a penalty of ₹1 lakh on it for violation of non-fulfilment of previous NOC (no objection certificate) recharge criteria under Central Ground Water Regulations.

The. board of Tiger Logistics (India) has approved a proposal to raise up to Rs 400 crore via preferential issue. The company is exploring various financial instruments including issuance of equity shares to raise the amount, an exchange filing said.

Torrent Power on Monday said its Rs 3,500 crore qualified institutional placement (QIP) issue was oversubscribed four times. The issue received bids of about Rs 14,000 crore against the base issue size of Rs 3,500 crore, a company statement said. The entire issue was placed with investors such as SBI MF, Capital Group, SBI Pension, Kotak MF, Nippon MF, Norges Bank and Amundi. This marks the maiden equity raise by the company and first equity raise in last three decades by Torrent Group.

Metropolis Healthcare will acquire Core Diagnostics for Rs 247 crore. The company’s board has approved the acquisition of 100 per cent stake in Core Diagnostics from its existing shareholder Core Diagnostics (Mauritius) Pvt Ltd, Metropolis Healthcare said in a regulatory filing. Pursuant to the completion of acquisition, Core Diagnostics will become a wholly owned subsidiary of the company, it added.

Bharat Forge has closed its Qualified Institutional Placement (QIP), through which it has raised ₹1,650 crore. Domestic Mutual Funds such as ICICI Prudential, HDFC MF, Aditya Birla Sun Life, were amongf the major participants in the Bharat Forge QIP. The issue price of the QIP has been fixed as ₹1,320 a share.

Power Finance Corporation has raised Rs 6,252 crore through the issuance of bonds with different maturities. The company raised Rs 3,200 crore via 15-year bonds at a coupon of 7.11% and Rs 3,052 crore via 10-year bonds at a coupon of 7.10%.

The board of PSU major NHPC will meet on Thursday to consider a revised borrowing plan for the financial year 2024-25. As part of this plan, the company intends to raise up to ₹2,600 crore by issuing unsecured, redeemable, taxable, non-convertible, non-cumulative bonds through private placement.

According to market buzz that Biocon is likely to sell aaround 2 per cent stake in contract research and manufacturing services firm Syngene International through block deals. The indicative price would be around Rs 825 a share, according to reports.

Brookfield India Real Estate Trust on Monday launched its QIP issue to raise up to Rs 3,500 crore by issuing shares to institutional investors. In a regulatory filing, Brookfield India Real Estate Trust informed that the Issue Committee of the board of directors of Brookprop Management Services Pvt Ltd — manager to Brookfield India REIT — approved the opening of the QIP (qualified institutional placement) issue on Monday. The panel approved the floor price of Rs 287.55 per unit.

Lumina Datamatics, subsidiary of Datamatics Global Services, has signed a definitive agreement to acquire a 100 per cent stake in TNQ Tech, a Chennai-based digital publishing technology company. The acquisition is expected to be completed in two tranches, with 80 per cent stake to be purchased by December 31, 2024, and the remaining 20 per cent by July 31, 2026. “The first tranche will cost Rs 336 crore, with the second tranche’s price determined by future EBITDA metrics