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Adani Enterprises Files Papers for Rs 20,000Cr FPO - Top Indian Market Updates
Adani Enterprises Ltd (AEL) has filed an offer letter for a proposed ₹20,000 crore follow-on public offer (FPO). This news is part of major updates that could move the markets, including results from Bank of India, Mastek, and Angel One, and new product launches from India Pesticides and Reliance Jio.
On this page
- Adani Enterprises files papers for ₹20,000 crore FPO
- India Pesticides expects revenue of ₹100 crore from new herbicide product
- Reliance Jio launches True 5G in 16 more cities
- Bank of India Q3 Results: Net profit rises 12% YoY to ₹1,151 crore
- Phoenix Mills subsidiary completes acquisition of Janus Logistics for ₹26 crore
- Mastek Q3 Results: Net profit falls 20% YoY to ₹67 crore
- Angel One Q3 Results: Net profit rises 38% YoY to ₹228 crore
- Innova Captab, Blue Jet Healthcare gets SEBI approval to float IPO
Key takeaways
- Adani Enterprises Ltd (AEL) has filed an offer letter for a proposed ₹20,000 crore follow-on public offer (FPO).
- India Pesticides expects to earn revenue of ₹100 crore from the launch of its new Herbicide Technical product.
- Reliance Jio has expanded its 5G services to 16 more cities, taking its total coverage to 134 cities.
- Bank of India reported a 12% year-on-year (YoY) increase in net profit to ₹1,151 crore for the quarter ended December (Q3 FY23).
- The Securities & Exchange Board of India (SEBI) has given approval to pharma companies Innova Captab Ltd and Blue Jet Healthcare to raise funds through an Initial Public Offering (IPO).
Here are some of the major updates that could move the markets tomorrow:
Adani Enterprises files papers for ₹20,000 crore FPO
Adani Enterprises Ltd (AEL) has filed an offer letter with stock exchanges for a proposed ₹20,000 crore follow-on public offer (FPO). The company is examining the possibility of launching the FPO in the last week of January. The FPO could result in AEL’s total promoter stake falling by 3.5%. The promoters hold 72.63% of AEL, while the remaining 27.37% is with public shareholders.
In other news, AEL signed an agreement to launch a pilot project to develop a hydrogen fuel cell electric truck (FCET) for mining logistics and transportation with Ashok Leyland and Canada-based Ballard Power.
Read more here.
India Pesticides expects revenue of ₹100 crore from new herbicide product
India Pesticides expects to earn revenue of ₹100 crore from the launch of its new Herbicide Technical product. The herbicide is used to control grass and broad-leaved weeds in the pre-or early post-emergence stages. It is primarily used in maize, soybeans, tomatoes, potatoes, sunflowers, wheat, and rice. The product will be manufactured at the company's Sandila facility in Uttar Pradesh and will be exclusive to export markets.
Read more here.
Reliance Jio launches True 5G in 16 more cities
Reliance Jio has expanded its 5G services to 16 more cities, taking its total coverage to 134 cities. It is now available in Kakinada, Kurnool (Andhra Pradesh), Silchar (Assam), Davanagere, Shivamogga, Bidar, Hospet, Gadag-Betageri (Karnataka), Malappuram, Palakkad, Kottayam, Kannur (Kerala), Tiruppur (Tamil Nadu), Nizamabad, Khammam (Telangana), and Bareilly (Uttar Pradesh). Jio users in these cities can upgrade to 5G through the Jio Welcome Offer and access data speeds of 1 Gbps+.
Read more here.
Bank of India Q3 Results: Net profit rises 12% YoY to ₹1,151 crore
Bank of India reported a 12% year-on-year (YoY) increase in net profit to ₹1,151 crore for the quarter ended December (Q3 FY23). The net interest income (NII) rose 64% YoY to ₹5,596 crore during the same period. The gross non-performing assets (GNPA) ratio improved from 10.43% in Q3 FY22 to 7.66% in Q3 FY23.
Read more here.
Phoenix Mills subsidiary completes acquisition of Janus Logistics for ₹26 crore
Phoenix Logistics & Industrial Parks Pvt Ltd (PLIPPL) has completed the acquisition of a 100% equity stake in Janus Logistics and Industrial Parks Pvt. Ltd. for a total cash consideration of ₹26.03 crore. PLIPPL is a wholly-owned subsidiary of realty developer Phoenix Mills. Janus operates in the logistics and warehousing business. It owns a 33-acre land parcel in the Faridabad and Sohna districts of Haryana.
Read more here.
Mastek Q3 Results: Net profit falls 20% YoY to ₹67 crore
Mastek Ltd reported a 19.6% YoY increase in consolidated net profit to ₹67.1 crore for the quarter ended December (Q3 FY23). The IT company’s revenue from operations rose 19.3% YoY to ₹658.7 crore during the same period. EBITDA stood at ₹113.7 crore in Q3, down 2.2% YoY. Mastek’s board has approved an interim dividend of ₹7 per share.
Read more here.
Angel One Q3 Results: Net profit rises 38% YoY to ₹228 crore
Angel One reported a 38.6% YoY increase in consolidated net profit to ₹227.98 crore for the quarter ended December (Q3 FY23). The brokerage company’s revenue from operations rose 25.5% YoY to ₹759.66 crore during the same period. Its client base grew 60.7% to 1.25 crore in Q3. Angel One’s board has approved an interim dividend of ₹9.6 per share.
Read more here.
Innova Captab, Blue Jet Healthcare gets SEBI approval to float IPO
The Securities & Exchange Board of India (SEBI) has given approval to pharma companies Innova Captab Ltd and Blue Jet Healthcare to raise funds through an Initial Public Offering (IPO). Innova Captab has proposed fresh issuance of equity shares worth ₹400 crore and an offer for sale (OFS) of 96 lakh shares through its IPO. The IPO of Blue Jet Healthcare is completely an OFS of up to 2.16 crore equity shares.
Read more here.
Frequently asked questions
What is the value of Adani Enterprises' proposed FPO?
Adani Enterprises' proposed follow-on public offer (FPO) is for ₹20,000 crore.
How many new cities did Reliance Jio launch True 5G in?
Reliance Jio launched True 5G in 16 more cities, bringing its total coverage to 134 cities.
What was Bank of India's net profit for Q3 FY23?
Bank of India's net profit for Q3 FY23 was ₹1,151 crore, a 12% year-on-year increase.
Which companies received SEBI approval for IPOs?
Pharma companies Innova Captab Ltd and Blue Jet Healthcare received SEBI approval to float IPOs.
Written by
Cherian VargheseRelated reads
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