Vehicle tracking devices enable consumers to ensure security and track cars in case of theft
Installation of a well-concealed tracking device inside a luxury car, an Audi Q7, one of the most ‘in demand’ luxury cars in India, reconfirms what has been common knowledge for a long time—vehicles held overnight or for longer periods in automobile garages, including authorised dealer...
The IPO would comprise at least 25% of equity capital giving a valuation of Rs2,800 crore to Bharat Business Channel, which provides direct-to-home TV services under Videocon D2H brand
Mumbai: Bharat Business Channel, satellite TV arm of Videocon Group, has filed its papers with market regulator Securities and Exchange Board of India (SEBI) to raise Rs700 crore through an initial public offering (IPO), reports PTI.
The company is also considering to raise Rs50 crore through a pre-IPO placement of its shares to institutional investors, it said in its draft prospectus made public by SEBI.
The issue would comprise at least 25% of equity capital giving a valuation of Rs2,800 crore to Bharat Business Channel, which provides direct-to-home TV services under Videocon D2H brand.
Other players in the business include Tata Sky, Dish TV, Sun Direct and Airtel Digital TV.
While the company has not disclosed the total number of shares to be sold in IPO, the pre-IPO placement could be of one crore shares.
"Our Company is considering a pre-IPO placement of up to one crore equity shares aggregating up to Rs500 million with certain investors...If the Pre-IPO placement is completed, the Issue size will be reduced to the extent of such Pre-IPO placement, subject to the issue size constituting at least 25% of the post-issue paid-up equity share capital of our company," the filing showed.
The company is planning to use the funds for "acquisition of set-top boxes, outdoor units and accessories thereof, repayment/prepayment of certain indebtedness and general corporate purposes."
IDBI Capital Market Services Ltd, SBI Capital Markets Ltd, Yes Bank, Enam Securities and UBS Securities India would act as a book running lead managers to the issue.
The shares are proposed to be listed on the BSE.
The board of Axis Bank approved to raise Tier-I capital of the lender through GDRs or QIP issue and preferential issue to promoters of the bank
New Delhi: Axis Bank said it proposes to raise funds by offering 4.58 crore shares by various means, including qualified institutional placement (QIP) or global depository receipt (GDR), reports PTI.
The board of the private sector lender has also approved to increase the authorised share capital of the bank from Rs500 crore to Rs850 crore, Axis Bank said in a BSE filing.
The bank would be able to raise about Rs6,228 crore at Monday's closing price.
The board approved to raise Tier-I capital of the bank by issue of equity shares not exceeding 4.58 crore equity shares through GDRs or QIP issue and preferential issue to promoters of the bank.
The decision will be subject to approval of shareholders, Reserve Bank of India and other regulatory authorities as may be required, it added.
Earlier this month, Axis Bank raised $20 million (about Rs108 crore) from overseas bonds.
The fund was raised under the medium-term note (MTN) programme through its Hong Kong branch.
Meanwhile, the bank launches e-Gift Card which offers customers an alternate channel through which they can buy a gift card for their dear ones.
Domestic customers can purchase these online e-Gift Cards using their credit or debit card issued by their respective bank, the bank said in a statement.
This card is an online version of the physical plastic gift card can be sent via email or SMS to recipient, who can then use it to purchase anything online across categories like apparels, airline tickets, books, etc.
The validity of the card is one year from the date of issuance.