Latest news with #ICDRRegulations
Business Upturn
7 days ago
- Business
- Business Upturn
Veranda Learning opens QIP issue at floor price of Rs 236.92 per share
By Aditya Bhagchandani Published on July 17, 2025, 22:07 IST Veranda Learning Solutions Limited announced on Thursday that it has opened its Qualified Institutions Placement (QIP) of equity shares to raise funds, as approved by its board and shareholders earlier this year. In a regulatory filing, the company said its QIP Committee met on July 17 and approved the opening of the issue along with the preliminary placement document. The floor price for the QIP has been set at ₹236.92 per equity share, calculated in accordance with SEBI's ICDR Regulations. The company also said it retains the discretion to offer up to a 5% discount to the floor price as permitted under the rules. The QIP was approved by Veranda Learning's board on May 17, 2025, and later ratified by shareholders at the extraordinary general meeting held on June 10, 2025. The funds raised through the QIP are expected to support the company's growth initiatives and strengthen its balance sheet. The QIP Committee's meeting commenced at 7:00 PM and concluded at 7:30 PM, after which the company filed its preliminary placement document with both the BSE and NSE. Veranda also reminded that its trading window remains closed for designated persons in compliance with insider trading regulations until further notice. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
16-07-2025
- Business
- Business Upturn
SBI opens QIP at floor price of Rs 811.05 per share
By Aditya Bhagchandani Published on July 16, 2025, 17:13 IST State Bank of India (SBI) on July 16 announced the opening of its Qualified Institutions Placement (QIP) of equity shares to raise capital from institutional investors. The bank's Committee of Directors approved opening the issue today at a floor price of ₹811.05 per share, as per the SEBI's ICDR Regulations. The floor price was determined based on the prescribed formula, and the bank has the flexibility to offer up to a 5% discount on this price. The final issue price will be decided in consultation with the book running lead managers, SBI informed stock exchanges. SBI also adopted the preliminary placement document and filed it with the BSE and NSE. The QIP follows approvals by the bank's Central Board and shareholders, who had passed a special resolution on June 13, 2025, permitting the capital raise. The bank emphasized that its trading window remains closed for all designated persons under the insider trading regulations. This fund-raising initiative comes as the country's largest lender looks to bolster its capital adequacy and support growth plans while maintaining strong buffers. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
08-07-2025
- Business
- Business Upturn
Navin Fluorine shares rise nearly 3% after board approves Rs 750 crore QIP at Rs 4,798 floor price
By Aditya Bhagchandani Published on July 8, 2025, 09:24 IST Shares of Navin Fluorine International Limited gained almost 3% in early trade on Tuesday, July 8, following the company's announcement of a qualified institutions placement (QIP) to raise up to ₹750 crore. The stock climbed to ₹5,031.20, up ₹145.00 from its previous close of ₹4,886.20 on the NSE. The company's Board of Directors, in its meeting held on Monday, July 7, approved the opening of the QIP and adopted the preliminary placement document and application form. The floor price for the issue has been fixed at ₹4,798.28 per share, as per SEBI's ICDR Regulations. The board noted that the company may offer a discount of up to 5% on the floor price, with the final issue price to be determined in consultation with the book running lead manager. The board also decided to amend the agenda of its upcoming Annual General Meeting, removing an earlier resolution to raise up to ₹750 crore through equity or other instruments, as the QIP now addresses the funding need. The company highlighted that the trading window remains closed for designated persons from June 30 to August 1, 2025, in view of the upcoming quarterly results. Navin Fluorine's market capitalization stood at ₹248.59 billion, with a P/E ratio of 86.23 and a dividend yield of 0.24%. The stock touched an intraday high of ₹5,024.00 and a low of ₹4,926.00, staying above its previous close throughout the morning session. The QIP is expected to strengthen the company's balance sheet and support its future growth initiatives. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
07-07-2025
- Business
- Business Upturn
Navin Fluorine board approves Rs 750 crore QIP, sets floor price at Rs 4,798.28 per share
By Aditya Bhagchandani Published on July 7, 2025, 21:50 IST Navin Fluorine International Limited on Monday, July 7, announced that its Board of Directors has approved opening a qualified institutions placement (QIP) of equity shares to raise up to ₹750 crore. In a filing with BSE and NSE, the company said the board approved the opening of the issue and adopted the preliminary placement document and application form. The floor price for the QIP has been set at ₹4,798.28 per equity share, calculated as per SEBI's ICDR Regulations. The board has also fixed July 7, 2025, as the relevant date for the issue. As per shareholder approval obtained earlier, the company may offer up to a 5% discount on the floor price, and the final issue price will be determined in consultation with the book running lead manager. The board also resolved to amend the Notice of its upcoming AGM to remove an earlier agenda item on raising funds via equity or other instruments of up to ₹750 crore, as the QIP now addresses this requirement. The board meeting, which commenced at 4:30 PM and concluded at 5:15 PM IST, also noted that the trading window remains closed for designated persons from June 30, 2025, to August 1, 2025, in view of the upcoming financial results for the quarter ended June 30, 2025. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
India.com
04-07-2025
- Business
- India.com
'Nothing is better than making your own decision in your own interest': Dr Subhash Chandra's advice to ZEEL shareholders
(File) New Delhi: Dr Subhash Chandra, the chairman emeritus of Zee Entertainment Enterprise (ZEEL) on Thursday, July 3, urged shareholders and investors to make their own decisions, rather than going by the recommendations of the proxy advisors. What did Dr Chandra say? Dr Subhash Chandra said, 'Our learned proxy advisors, and sometimes even some analysts, have their own reasons and points of view when they advise shareholders to vote for or against a resolution. At times, their personal bias may influence their recommendations,' as he requested investors to make their own decisions, since it's their money at stake. 'Ultimately, nothing is better than making your own decision in your own interest, because you are the investor and it is your money at stake. The proxy advisor has not invested their money; you have,' he said. What was the occasion? Dr Chandra made these observations on the sidelines of ZEEL's announcement of the issue of up to Rs 16.95 crore fully convertible warrants to entities belonging to the promoter group on a preferential basis. Upon realisation, the move will see promoters invest Rs 2,237.44 crore at Rs 132 per warrant, will increase the Dr Chandra-led Zee promoter group's stake in the company to 18.39% from the existing 3.99%, subject to shareholder approval. If the resolution is approved by the shareholders at the upcoming annual general meeting, promoters will initially pay 25% of the amount, Rs 559.4 crore, at the time of allotment. The balance of Rs 1,679.58 crore will be brought in upon the conversion of warrants within 18 months, in line with SEBI's ICDR Regulations. What did Dr Chandra say on warrants? 'Regarding the question of warrants, I can assure you that we will not wait for the entire 18-month period. We will bring in the remaining funds as soon as possible, at the earliest opportunity,' said Dr Chandra as he assured investors that the promoters intend to accelerate this timeline clarifying further that as per reports, the company would neither raise debt nor pledge shares to fund this infusion. He further pointed out that the investor call was part of Zee's effort to be 'more transparent and much more open to the shareholders.'
