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India.com
3 days ago
- Business
- India.com
Anil Ambani preparing for a comeback? Reliance Power board approves fundraising plan worth Rs..... through...
Anil Ambani, once India's industrial titan, is now taking big steps to revive his primary company, Reliance Power. On Wednesday, Reliance Power approved an ambitious plan to raise Rs 6,000 crore, signalling the Anil Ambani group's intent to revive its energy business. What is the total amount Reliance Power aims to raise through this plan? According to a Mint report, the power company plans to raise Rs 6,000 crore through either a Qualified Institutional Placement (QIP), a Follow-on Public Offer (FPO), or a combination of QIP and FPO. Moreover, it is also planning on issuing either secured or unsecured, redeemable, non-convertible debentures (NCDs) amounting to Rs 3,000 crore. In an exchange filing on Wednesday, Reliance Power stated, 'We hereby inform you that the Board of Directors, at its meeting held today, i.e., Wednesday, July 16, 2025, has, inter alia, approved seeking enabling authorization from the members for raising funds up to ₹ 6,000 crore through the issuance of equity shares and/or equity linked instruments and/or other eligible securities to qualified institutional buyers by way of a Qualified Institutions Placement and /or follow on public offer or a combination thereof.' It further reads, 'issuance of secured/unsecured, redeemable, non-convertible debentures up to ₹3,000 crore, in one or more tranches/series, on a private placement basis or otherwise.' Who is behind Reliance Power's latest fundraising plan? In addition, the company plans to issue secured or unsecured, redeemable, non-convertible debentures (NCDs) of up to Rs 3,000 crore in one or more tranches. The NCDs can be issued through private placement or other means. The detailed terms and conditions will be finalized later, upon shareholder approval. 'Details and terms of issue of the said securities will be determined by the Board in terms of the approval of the shareholders at an appropriate time,' it added. Following the announcement, Reliance Power's shares fell by 4.80% to close at Rs 49.59. However, market experts said this fundraising plan is very important for restoring the financials of Reliance Power. Having faced difficulties regarding levels of loans and other financial obligations recently, Reliance Power will apply this new capital to firm up its operations and accelerate its growth intentions in the future. The Anil Ambani Group is attempting to make real progress in reviving many of its businesses. The Rs 6,000 crore fundraising plan will effectively bolster the company's cash flow and also increase optimism that Anil Ambani is about to take center stage again as a CEO. The company is no longer going backward. Clearly, the capital infusion will assist Reliance Power in advancing to the next level, and to see whether it can reestablish its power in India's energy sector.
The Wire
04-07-2025
- Business
- The Wire
Marathon Nextgen Realty Raises Rs. 900 Crore Through Qualified Institutions Placement
Overwhelming Response from Premier Domestic and International Institutional Investors Validates Company's Growth Strategy MUMBAI, India, July 4, 2025 /PRNewswire/ -- Marathon Nextgen Realty Ltd (BSE: 503101) (NSE: MARATHON) ("MNRL"), one of Mumbai's leading real estate development companies, has successfully completed a Qualified Institutions Placement (QIP), raising Rs. 900 crore (US$ 105 million). The QIP proceeds will primarily be used as growth capital, enabling the company to expand its development pipeline and invest in high-potential opportunities across the Mumbai Metropolitan Region. This capital infusion will further strengthen the company's financial foundation with its net debt-to-equity ratio expected to reduce further from the current 0.46 following the planned debt reduction. The QIP was executed through the issuance of 1,62,12,406 equity shares at ₹555.13 per share (face value ₹5 each). The offering, which closed on June 30, 2025, attracted strong participation from leading institutional investors including Quant Mutual Fund, Kotak Alternate Asset Managers, and Samco Mutual Fund, among others. This QIP has significantly enhanced MNRL's institutional investor base, with Foreign Institutional Investor (FII) holding increasing to 9.9% and Domestic Institutional Investor (DII) holding rising to 16.66% post-issue. Management Commentary Mr. Chetan Shah, CMD of MNRL, said, "This successful capital raise of Rs. 900 crore represents a decisive vote of confidence from marquee institutional investors in our strategic vision and execution capabilities. The Indian real estate sector is witnessing unprecedented momentum creating substantial opportunities for well-positioned players like MNRL. Our demonstrated track record of delivering projects on time, coupled with our strategic land bank and robust project pipeline, positions us exceptionally well to capitalize on this sector upswing. Additionally, our recently approved amalgamation scheme—bringing promoter group entities and their assets under the MNRL—will consolidate our land bank, projects and inventory, creating an efficient operating structure with better corporate governance. We are at a strategic inflection point, equipped with the right capital, a robust asset base, and a clear long-term vision to drive the next phase of MNRL's evolution." Use of Proceeds The proceeds from the QIP will be utilized strategically across the following areas: Strategic Priority Allocation Percentage Debt Reduction ₹340 crore 38 % Land Acquisition and development rights ₹300 crore 33 % Fund on-going projects ₹160 crore 18 % General Corporate Purposes ₹100 crore 11 % Distinguished Investor Participation The QIP saw participation from a prestigious group of domestic and international institutional investors, including: Domestic Institutional Investors: Foreign Institutional Investors: Quant Mutual Fund Samco Mutual Fund Kotak Alternate Asset Managers SageOne Investment Managers Buoyant Capital Brescon Opportunities Fund Maybank Securities Morgan Stanley Asia Citigroup Global Markets Nomura Singapore Limited North Star Opportunities Fund Zeta Global Funds Eminence Global Fund PCC Necta Bloom VCC The complete Placement Document is available for detailed information About Marathon Group For over 53 years now, Marathon Group has been helping shape Mumbai's skyline. Founded in 1969 by Ramniklal Zaverbhai Shah, the Group has completed over 100 projects in the city with a portfolio encompassing townships, affordable housing, luxury residential, retail, small business spaces, and corporate parks. Marathon is design-driven and engineering-focused with a leadership team comprising of technocrats. Mr. Chetan Shah, Chairman & Mr. Mayur Shah, Vice-Chairman, have completed their engineering from US and the third generation of the company comprising of the three heads of projects –Mr. Kaivalya Shah, Mr. Parmeet Shah, and Mr. Samyag Shah are highly qualified having completed their education from US and bring decades of real estate experience. Marathon has strong in-house capabilities in design, engineering, execution, marketing, and sales, and prides itself on its transparency and customer-centricity. The Group has ongoing projects and land banks at Lower Parel, Byculla, Mulund, Bhandup, Thane, Dombivli and Panvel. More information is available at Disclaimer Some of the statements in this communication may be 'forward-looking statements within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the company's operations include changes in the industry structure, significant changes in the political and economic environment in India and overseas, tax laws, duties, litigation, and labour relations. Photo: Logo: (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.).
Economic Times
21-06-2025
- Business
- Economic Times
Sebi's June 2025 board meeting: A regulatory makeover with market empathy
Simplification of Institutional Fund Raising Startup Founders Rejoice Live Events Freedom to Merchant Bankers Welcome to Indian Markets Key Message: (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The Securities and Exchange Board of India (Sebi) in its last board meeting unveiled a sweeping set of regulatory reforms that reflect both market responsiveness and forward-looking policymaking. This meeting wasn't just a quarterly update — it was a full-body reset on many longstanding regulatory frameworks, aimed at easing compliance burdens, deepening market access , and aligning Indian capital markets with global meeting also marked a strategic recalibration of SEBI's regulatory posture. It demonstrated a commitment to reducing compliance friction while safeguarding core market integrity. In doing so, SEBI is responding to the evolving expectations of a maturing market, one that now hosts retail participation at scale, large institutional flows, digitised securities infrastructure, and increased cross-border also gave its green light to a streamlined disclosure regime for Qualified Institutions Placements. The lengthy and often duplicative disclosure requirements will give way to concise, issue-specific and material risk disclosures, leveraging publicly available data. Companies will no longer need to reproduce financials already present in the public domain, making capital-raising quicker and more new-age tech companies decide to go public, they reach a point where they can no longer use the ESOP (Employee Stock Option Plan) benefits available to startup promoters. At the same time, the founders are usually classified as 'promoters' in the draft prospectus (DRHP) because of their combined shareholding. Once identified as promoters, and given the rules that apply to listed companies under SEBI's ESOP regulations, they are no longer allowed to receive ESOPs—regardless of whether the company is still considered a has been a long-standing problem, and many industry bodies, including FICCI, have given representation to the regulator to address this concern. Resultantly, SEBI in the floated consultation paper of March 2025 sought to clarify the treatment of Employee Stock Ownership Plans granted to per this recent progressive decision, the startup founders classified as promoters can now continue to hold and/or exercise share-based benefits, such as ESOPs, even after the company lists, provided these benefits were received at least one year prior to filing the previously proposing that merchant bankers separate their non-regulated activities into a different legal entity, SEBI has eased its stand. Merchant bankers can now conduct regulated as well as certain non-regulated, fee-based financial services within the same entity — provided they comply with their respective financial sector regulators' guidelines and SEBI-prescribed conditions. This was in direct response to feedback from key industry bodies like FICCI, which warned of unnecessary cost and a move intended to enhance flexibility for companies considering reverse flipping and improve investor participation, SEBI approved amendments to its ICDR Regulations. Following a consultation paper of March 2025, SEBI relaxed the one-year minimum holding period requirement for equity shares arising from the conversion of fully paid-up compulsorily convertible securities acquired under approved schemes. Investors can now offer these shares in a public issue, harmonising these provisions with the existing minimum promoters' contribution requirements.'Ease of Doing Business is not a dilution — it is a deliberate design. But it must be paired with credible safeguards, professional discipline, and investor-first thinking.'With reforms addressing Alternative Investment Funds, Real Estate and Infrastructure Investment Trusts (REITs/InvITs), Merchant Bankers, Debenture Trustees, and more, SEBI is laying down a unified, consistent, and future-compatible regulatory said, there is scope to do more. The regulator could further simplify the capital-market instruments — for example, by allowing a fast-track conversion process for Private InvITs to list as Public InvITs. Steps like these will make the Indian capital markets even more accessible, liquid, and investor-friendly.
India Gazette
11-06-2025
- Business
- India Gazette
IREDA successfully raises Rs 2,005.90 crore via QIP to boost green financing
New Delhi [India], June 11 (ANI): Indian Renewable Energy Development Agency Ltd (IREDA) has successfully raised Rs 2,005.90 crore through a Qualified Institutions Placement (QIP), said a statement from Ministry of New and Renewable Energy on Wednesday. The capital was mobilised by issuing 12.15 crore equity shares at a price of Rs 165.14 per share, which includes a premium of Rs 155.14 per share over the face value of Rs 10. The issue price of Rs 165.14 reflects a discount of 5.00% to the floor price of Rs 173.83 per equity share. Launched on June 5, 2025, the QIP issue closed on June 10, 2025, receiving an encouraging response from a diverse set of both domestic and foreign qualified institutional buyers (QIBs) including insurance companies, scheduled commercial banks and foreign portfolio investors. The Board has approved allotment of equity shares to eligible qualified institutional buyers in its meeting held today i.e. June 11, 2025. The QIP was oversubscribed with bids amounting to Rs 2,005.90 crore against the base issue size of Rs 1,500 crore, achieving a subscription of 1.34 times. The capital raised through this successful issue will further strengthen IREDA's Tier-I capital and overall Capital Adequacy Ratio (CAR), enhancing the company's capacity to support the expanding renewable energy sector in India. Reflecting on this achievement, Pradip Kumar Das, Chairman & Managing Director, IREDA, said: 'The successful completion of this QIP in a short span after our IPO in November 2023 is a testament to the trust and confidence the investor community and the Ministry of New & Renewable Energy have reposed in IREDA. This capital infusion will empower us to scale up our financing activities, enabling greater investments in renewable energy projects and accelerating India's transition towards a greener and sustainable energy future.' CMD, IREDA expressed his gratitude to Pralhad Joshi, Union Minister of New & Renewable Energy, Consumer Affairs and Food & Public Distribution; Shripad Naik, Minister of State for Power and New & Renewable Energy; Santosh Kumar Sarangi, Secretary, MNRE; Department of Investment and Public Asset Management (DIPAM); and the Board of Directors for their support and invaluable guidance. IREDA extended its gratitude to all institutional investors and stakeholders for their continued support, reaffirming its commitment to leading the country's clean energy financing initiatives. (ANI)
