Market Today

1. ICICI Bank approves raising up to Rs 15,000 Crores

The private lender, in a exchange filing, said its board has approved fundraising of up to Rs 15,000 crore. The fundraise may be concluded in one or more tranches via a follow-on public issue, private placement, preferential issue of a combination thereof.

2. Tata Sons in talks to acquire AirAsia India stake at a steep discount

Tata Sons, the holding company of the Tata group, is in talks to buy out AirAsia Berhad’s stake in their joint venture airline in India at a steep discount — taking into account the crash in valuations of airline stocks globally owing to the Covid-19 pandemic. The Tata group is likely to tie up with other financial investors to acquire its Malaysian partner's 49 per cent stake in AirAsia India, said banking sources.

3. Rossari Biotech IPO to open on July 13; price band of Rs 423-425 per share

Rossari Biotech’s business is organised in three main product categories –

(i) home, personal care and performance chemicals (HPPC);

(ii) textile specialty chemicals; and

(iii) animal health and nutrition products (AHNP).

Rossari Biotech will kickstart its initial public offer next week, on July 13.

4. South Indian Bank posts 11% growth in net profit in Q1

The operating profit has grown from ₹317.63 crore to ₹403.68 crore, a growth of 27 percent. There has been a good growth in the retail, agriculture and MSME portfolios.

5. Aditya Birla Fashion Rights Entitlement shares close at 40% premium over intrinsic value

The rights issue, which will allow existing shareholders of the company to subscribe at Rs 110 per share, will close on July 22. The company will largely use proceeds of the rights issue for repayment, in whole or part, of the existing loan facilities availed earlier.