ADITYA BIRLA MERGER
Ambuja Cements board approves merger of Adani Cementation with company
ACL has acquired land to set up 2.5 MTPA (million tonnes per annum) along with captive jetty at Amba River, Raigad (Maharashtra). Besides, it has commissioned 1.30 MTPA cement grinding capacity at Dahej, Gujarat in July 2023, where expansion is in progress for another 1.20 MTPA.
ABFRL Q4 Results: Net loss widens to Rs 266.35 crore YoY
Aditya Birla Fashion and Retail Ltd has reported a consolidated net loss of Rs 266.35 crore for the fourth quarter ended March 2024. The company had posted a net loss of Rs 194.54 crore during the January-March quarter a year ago, according to a regulatory filing from Aditya Birla Fashion and Retail Ltd (ABFRL).
UltraTech Cement offers to acquire 31.6 per cent in UAE-based RAKWCT
On April 15, UltraTech had informed that UCMEIL will invest in 29.39 per cent equity share capital of 'Ras al Khaimah Co. for White Cement and Construction Materials PSC' (RAKWCT), a company listed on the Abu Dhabi stock exchange.
Voda Idea shares jump over 11% on UBS upgrade
Analysts and investors have been bullish on Vodafone since its ₹18,000-crore follow-on public offer (FPO), India's biggest, in April. The issue was subscribed 7 times, with strong demand from global institutional investors.
Voda Idea shares up in early trade after Q4 show
Vodafone Idea Stock: Vi's net loss for the fiscal fourth quarter expanded to Rs 7,675 crore, up from Rs 6,986 crore in the previous quarter. The telecom company faces challenges from high debt and ongoing customer losses to competitors like Reliance Jio and Bharti Airtel.
Vodafone Idea Q4 Results: Net loss widens vs Q3; ARPU rise to Rs 146
Vodafone Idea’s net loss for the fiscal fourth quarter, FY24, widened sequentially to Rs 7,675 crore, dragged by high debt and even as it continued to lose subscribers.
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ICICI Securities Delisting: 16 fund houses vote in favour of plan and 7 against
Sixteen domestic mutual funds, including Kotak and LIC, supported ICICI Bank's proposal to delist ICICI Securities, despite concerns raised by some shareholders. This led to a class-action lawsuit by retail investors and support from ICICI Prudential Mutual Fund.
Stocks to buy now? Aditya Birla Group to lead market; Voda Idea a doubler from here, says Sanjiv Bhasin
Sanjiv Bhasin predicts market trends post 23,000 crossing, election results. Advocates stock selection, supports AB Group, discusses real estate plays. Emphasizes Ashok Leyland potential over Tata Motors. Prefers Indiabulls Real Estate for better risk-reward.
Voda Idea a national asset, FPO sets stage for 2.0: KM Birla
“Vi is not just a telecom company. It’s a national asset with 215 million users and about 8000 MHz spectrum. That so many marquee investors participated in this equity issuance is a testament to the government’s vision of a digital India,” Birla said in an official statement following Vi’s FPO listing on the NSE Thursday.
Vodafone Idea raised Rs 5,400 crore from nearly 60 anchor investors
According to sources, institutions such as GQG Partners, UBS, Morgan Stanley Investment Management, AustralianSuper, Fidelity, and domestic mutual funds like Quant and Motilal Oswal were among those that subscribed to the telecom operator's anchor book. Sources indicate that over 70% of the anchor investors are foreign institutions.
A laggard is trying to gallop into two-horse telecom race
India's telecommunications industry is primarily dominated by Bharti Airtel and Reliance Jio, with Vodafone Idea (Vi) striving to catch up. Vi has initiated a fund infusion plan, starting with a preferential share issue to raise Rs 2,075 crore from an Aditya Birla Group entity, essential for its financial revitalization. Vi aims to raise a total of Rs 45,000 crore through a combination of equity and debt, offering a glimmer of hope for the struggling telco
Vi’s Rs 2000 crore preferential issue to kickstart larger infusion plan
Vodafone Idea was formed by the merger of Aditya Birla Group’s Idea Cellular and the India unit of Vodafone Plc in 2018. The board also approved an increase in authorised share capital to Rs 1 lakh crore from Rs 75,000 crore.
Aditya Birla Capital shares jump 7%, Macquarie says stock can double in 3 years
"We believe Aditya Birla Capital (ABCL) is poised to show strong growth in loans and earnings driven by its lending (NBFC and HFC) and savings (life insurance) businesses in the next several years," Macquarie analyst Suresh Ganapathy said in a report.
Aditya Birla to consolidate financial services to comply with RBI norms
Aditya Birla Finance, the lending subsidiary of the steel to telecom group, will merge with its listed parent Aditya Birla Capital to comply with the Reserve Bank of India's (RBI) scale-based regulations for non-banking finance companies (NBFCs). The merger will result in Aditya Birla Finance's mandatory listing by September 30, 2025.
India's Aditya Birla Capital to merge with financial unit
India's Aditya Birla Capital Ltd (ABCL) said on Monday it will merge with its unit Aditya Birla Finance and turn into an operating non-banking financial company from a holding company.
Aditya Birla Capital, Aditya Birla Finance announce a Scheme of Amalgamation for creation of a large NBFC
Aditya Birla Capital Limited (ABCL) and Aditya Birla Finance (ABFL) have approved the Scheme of Amalgamation (Scheme) to create a large unified operating NBFC. The merger will result in a reduction of legal entities and simplification of the group structure of Aditya Birla Capital. It will also comply with the Scale based Regulations of RBI, which require mandatory listing of Aditya Birla Finance by September 30, 2025.
NCLT approves Aditya Birla group plan to merge NBFCs: Sources
Aditya Birla Group plans to consolidate its non-banking finance companies (NBFCs) to create better synergies and ensure optimal utilisation of resources and greater economies of scale, following approval by the National Company Law Tribunal (NCLT).
Aditya Birla Sun Life Mutual Fund merges target maturity index fund and corporate bond fund
Aditya Birla Sun Life CRISIL IBX AAA March 2024 Index Fund is an open-ended target maturity index fund tracking the CRISIL IBX AAA Index – March 2024 with a moderate interest rate risk and relatively low credit risk.
Zee-Sony merger failure a headache for Punit Goenka as a familiar threat looms
After the termination of merger agreement with Sony Pictures, Zee Entertainment faces a new threat thanks to its low promoter holding. A low promoter holding could expose the company to a hostile takeover risk, especially if institutional investors seek an exit. The company witnessed similar worries back when Invesco raised concerns.
Deals in consumer, retail fell by a third in 2023, transaction value down 9% - Grant Thornton Bharat
Deals within ecommerce nearly halved by value to 3.3 billion while the number fell 70% to 124 deals. Apparel and retail, however, saw deal transaction surge seven times, led by Reliance Retail which raised nearly $1.6 billion from Qatar Investment Authority and Abu Dhabi Investment Authority. Lenskart also received a funding of $500 million during the first half of 2023, followed by M&G Plc, Lightspeed Venture Partners and DST Global buying a stake in Udaan last month.
Vodafone Idea halts revenue market share decline in Q2
The telecom JV between UK's Vodafone Plc and India's Aditya Birla Group reported a steady 16.3% RMS in the fiscal second quarter-unchanged from the number reported in the April-June period-data collated by the Telecom Regulatory Authority of India (Trai) showed. Vi had last reined in its RMS fall two years ago in Q2FY22.
Vi's Q2 net loss widens to Rs 8,738 crore
Vodafone Idea, a joint venture between UK's Vodafone Group Plc and India's Aditya Birla Group (ABG), saw average revenue per user (ARPU), a key performance metric, rise over 2% on-quarter to ₹142, as it added more 4G users. But the telco kept losing subscribers overall to end the period with 219.8 million.
Vi's top lenders urge promoters to infuse more funds into telco
Lenders of Vodafone Idea (Vi) are urging the company's promoters to inject more equity in order to qualify for future loans. The recent ₹2,000 crore financial support offered by the promoters is deemed inadequate due to Vi's weak credit rating. The banks, led by State Bank of India (SBI), have advised that a larger equity infusion is necessary to compensate for the lower credit rating and instill confidence in lenders.
Consumer deal activity halves in Jan-June period: Grant Thornton Bharat report
Experts expect a recovery in the deal space in the second half of the year as companies increasingly rely on M&A to diversify revenue sources and government increases investment in capex projects.
Aditya Birla Sun Life mutual Fund merges ABSL International Equity Fund and ABSL Commodity Equities Fund - Global Agri Plan
The two schemes will be merged and Aditya Birla Sun Life International Equity Fund - Plan A will be the surviving scheme.
TCNS Clothing shares crash 19% as Aditya Birla Fashion to acquire majority stake
Aditya Birla Fashion & Retail's acquisition of a 51% stake in TCNS Clothing has led to a 19% drop in the latter's stocks. ABFRL aims to acquire the remaining shares in a merger with TCNS, which will offer public shareholders 11 ABFRL shares for every six TCNS shares they hold. Emkay has suggested that due to the current price of the stocks and the swap ratio for the merger at 1.83, it will be more beneficial for public shareholders of TCNS to tender their shares in the open offer at Rs 503 per share than to swap them.
Aditya Birla Fashion to raise up to ₹800 crore for TCNS acquisition
"For funding, we probably need about ₹700 to 800 crore through external debt, which we will have to raise... The remaining ₹800 crore will be funded through internal accruals," Ashish Dikshit, managing director of ABFRL told ET. "Our balance sheet is strong enough to raise that."
Aditya Birla Fashion to acquire 51% stake in TCNS Clothing for Rs 1,650 cr
As part of the transaction, ABFRL will make a conditional open offer to acquire up to 29% stake at Rs 503 per share from public shareholders and acquire the remaining stake from the founder promoters to reach an overall shareholding of 51% in TCNS.
Zee valuations at a reasonable level, do not offer too much downside: Karan Taurani
So valuations definitely are important, but what happens from here on in terms of up move will only depend in terms of timelines for the merger.
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