Page 7 - Indian Companies

Vedanta plans to raise up to Rs 1,000 cr through non-convertible debentures

Vedanta Ltd on Wednesday said it plans to raise up to Rs 1,000 crore through non-convertible debentures (NCDs). In this regard, the company is holding a meeting of its duly constituted committee of the directors next week, Vedanta Ltd said in a filing to the BSE. "The company proposes to offer rated, secured, redeemable, non-cumulative, non-convertible debentures aggregating up to Rs 1,000 crore," the filing said. The above issuance is pursuant to the board of directors' resolutions passed at their meeting held on May 7, 2019, and October 3 last year. Vedanta Ltd is a diversified natural resources company whose business primarily involves producing oil and gas, zinc-lead-silver, copper, iron ore, aluminium and commercial power.

Accenture's growth outlook augurs well for Indian IT services players

The company raised its revenue outlook for FY22 to 19-22 per cent in local currency, up from 12-15 per cent earlier

Margin war: Nestle India, ITC agree on price parity with distributors

In the last 20 days, AICPDF had written two letters to FMCG companies to resolve the issue of price disparity.

India's mergers & acquisitions volume in 2021 near all-time high: Report

There were 85 strategic deals valued at more than $75 million in 2021, out of which the percentage of first-time buyers is almost 80 per cent

ICAI to soon get powers to act against erring partnership firms

Chartered accountants' apex body ICAI will soon have powers to initiate disciplinary action against erring partnership firms as well

Gehlaut offloads 11.9% stake in Indiabulls HFC; to resign by March-end

Gehlaut will continue as chief executive officer (CEO) of Dhani Services, a company that was demerged from IHFL

Tata Group in talks with Taiwan companies to make chips in India

Indian conglomerate has a captive requirement for semiconductors

BS Awards: Be agile, adapt, says India Inc as change becomes a constant

The India Inc leaders, winners of the Business Standard Awards: Celebrating Excellence, were speaking at the 22nd edition of the awards held online

Urban Company's valuation rises to $2.8 billion in 4th ESOP sale programme

The ESOPs sold in this transaction have largely been purchased by existing institutional investors of the company.

Byju's 13th most valued unicorn, first Indian start-up to reach $21-bn

India could surely have had more $10 billion plus start-ups in 2021 had it not been for the pandemic

Sequoia Capital sees Indian financial firms' value soar to $2.5 trillion

Valuations for India's fintech companies should jump 10 times to $500 billion by 2030

Bajaj Electricals to review corporate structure for better opportunities

The company is currently engaged in the business of consumer products and engineering procurement and construction segment

Top 500 Indian firms added $1.2 trn wealth so far in CY21: Hurun report

This comes on the back of record highs in the stock markets, caused by a fast-growing digital economy and greater optimism for the post-Covid growth trajectory of the Indian economy

MapmyIndia raises Rs 312 cr from anchor investors at Rs 1,033 per share

33% of anchor book allocated to 9 mutual funds through 17 schemes

Serum may cut Covishield's monthly production by half as govt orders dry up

The Pune-based firm has 500 million doses of Covishield in stock

Over 396,000 cos removed from official records for non-compliance in 5 yrs

More than 3.96 lakh companies were removed from official records in the last five financial years after following the due process under the companies law, according to official data. The corporate affairs ministry, which is implementing the Companies Act, 2013, struck off 12,892 companies from the official records in the last fiscal, while the number stood at 2,933 in 2019-20. Figures provided by Minister of State for Corporate Affairs Rao Inderjit Singh to the Rajya Sabha in a written reply on Tuesday showed that a total of 3,96,585 companies were removed from the Register of Companies in the last five financial years. In 2016-17, a total of 7,943 companies were removed from the register, while the count was at 2,34,371 in 2017-18 and 1,38,446 in 2018-19. To a query on whether many companies were struck off on account of lack of compliance, the minister replied in the affirmative. Pursuant to provisions of Section 248 (1) of the Companies Act, the name of a company can be removed

Spread of Omicron variant puts spanner in back-to-office work

However, some companies say that a permanent work-from-home policy is not feasible in India

At $4.5 billion, investment in SaaS companies grows 170% in 2021

India now has 13 SaaS unicorns and between 7 and 9 companies with $100 mn+ annual recurring revenue (ARR)

Companies raised Rs 52,759 cr from IPOs till October this fiscal: FM

A total of Rs 52,759 crore has been raised by 61 firms through IPOs till October this fiscal, higher than the funds mopped up through this route in the last financial year, govt said

Indian companies were progressive during Covid-19 pandemic: Study

97 per cent of them having an active short-term incentive plan for in-year performance recog­ni­ti­on