Vedanta Ltd is poised to raise up to Rs 5,000 crore through private placement of secured non-convertible debentures (NCDs). The offering, with staggered maturities, features a coupon of around 9.35%-9.45%, higher than sovereign bond yields. Proceeds will be used for debt repayment and capital expenditure. Anchor investors include prominent mutual funds and insurance companies.
Related news
IndiGo has solidified its commitment to expanding its long-haul operations by confirming an order for 30 additional Airbus A350 wide-body aircraft. This doubles their initial order, bringing the total to 60 A350s with an option for 40 more.
Ola Electric's stock prices plunged following the release of disappointing quarterly results. The electric vehicle company reported a substantial net loss for the fourth quarter and the full financial year. Revenue from operations also experienced a sharp decline. Despite these challenges, Ola Electric expresses optimism about achieving profitability in the coming financial year.
Following recent turmoil stemming from incorrect derivative trade recognition, the Institute of Chartered Accountants of India (ICAI) will scrutinize IndusInd Bank's financial statements. The Financial Reporting Review Board (FRRB) will conduct the review for the fiscal years 2023-24 and 2024-25 to ensure compliance with accounting and auditing standards.
Ola Electric experienced a significant downturn in the March quarter, with revenue plummeting by 60% to Rs 649 crore and net losses widening to Rs 870 crore. Deliveries also sharply declined to 51,375 units, reflecting a substantial drop in demand, particularly in the premium segment.
Bhavye Khetan, a UC Berkeley graduate, ignited a debate about startup funding by creating a fake founder persona. He secured responses from 27 VCs, with four requesting calls, despite having no product or pitch. Khetan's experiment highlights concerns that pedigree and buzzwords may overshadow substance in venture capital evaluations.
In response to US tariffs, a NITI Aayog paper suggests India selectively lower tariffs on non-sensitive US agricultural imports and offer concessions where supply gaps exist, like in edible oils. It also recommends negotiating greater US market access for Indian exports such as shrimp and spices.
OpenAI has broadened its AI for Impact Accelerator in India, granting $150,000 in technical assistance to 11 nonprofits. These organizations are developing AI tools for healthcare, education, and agriculture. The program, aligned with IndiaAI Mission, aims to democratize AI access and address socio-economic challenges, with plans for further expansion and initiatives in the region.
IndiGo will launch direct daily flights connecting Mumbai and Adampur in Jalandhar. The service starts on July 2, 2025. Adampur becomes IndiGo’s 92nd domestic destination. This new route aims to boost connectivity for business and leisure travelers. It will also strengthen trade between Punjab and Mumbai. The airline focuses on affordable and hassle-free travel.
WestBridge Capital divested a 12.4% stake in Aptus Value Housing Finance for Rs 1,906 crore through an open market transaction via WestBridge Crossover Fund LLC. The sale reduced WestBridge Capital’s holding to 16.19%. SBI Mutual Fund, Axis Mutual Fund, Morgan Stanley Asia Singapore, and Eastbridge Group collectively acquired a 3.35% stake for Rs 514.64 crore. Aptus Value Housing Finance shares closed 9.
Eternal Limited shares saw a significant jump. This surge follows Morgan Stanley's positive outlook. Eternal's Q4 earnings showed a profit decline. However, operational revenue increased substantially. The company remains a key player on the Nifty50. Other gainers included Power Grid and Reliance Industries. Some companies like Bajaj Finance experienced declines.