TOP CORPORATE NEWS - 22 MAR 2016

SBI raises Rs500 cr via tier-ll bonds

State-owned lender State Bank of India (SBI) on Tuesday said it has raised Rs500 crore through issuance of 5,000 Basel III compliant, tier-ll bonds in the nature of debentures on a private placement basis.

The Bank has on March 21, 2016 issued 5,000, Basel III compliant, Tier-ll bonds in the nature of debentures, of face value of Rs10,00,000 each at par, with 10 year tenure, bearing 8.45 per cent p.a. coupon payable annually and with call option after 5 years, aggregating to Rs500 crore on private placement basis.

Bharti Airtel to close $179 million telecom tower deal

Bharti Airtel to close $179 million telecom tower deal (1350 towers) for Tanzania operations with American Tower Co by Jun.

Infibeam IPO subscribed 21% on Day 1

Infibeam Incorporation Ltd, the first e-commerce firm to tap the IPO route, saw its Rs450 crore issue getting subscribed 21% on the opening day.

The issue received bids for 26, 44,792 shares as against the total issue size of 1, 25, 00,000 shares, as per NSE's data yesterday.

Government plans 100% FDI for commodity broking

Government plans 100% FDI (automatic route) for commodity broking, IDF and other set of NBFCs—positive read thru for Religare Enterprises, IDFC, Motilal Oswal Financial etc

As per media reports, the Government is expected to propose 100% FDI in 25 more segments of NBFCs including commodity broking and infrastructure debt fund with a view to attract more foreign inflows.

Emami drags Patanjali to court for infringement of trade mark

Emami drags Patanjali to court, claims Patanjali launch of ‘ Kesh Kanti’ as an infringement of its trade mark ‘ Kesh King’ – court directed Patanjali to stop selling product for 10 weeks; sentimentally positive for Emami

Emami Ltd has gone into confrontational mode, accusing the Baba Ramdev-promoted ayurvedic behemoth of copying design and trade mark of its ' Kesh King' brand of hair tonic.

                          

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