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In recent years, <keyword id="19902194" type="General" weightage="20" keywordseo="Anil-Ambani" source="keywords">Anil Ambani</keyword>'s <keyword id="20479923" type="General" weightage="100" keywordseo="Reliance-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Group" meta.hostid="153" meta.entityid="Reliance Group">Reliance Group</keyword> has seen marquee firms being auctioned in insolvency proceedings and piling debt-fold businesses. But the group has, in the week gone by, made announcements that investors believe may mark its transformation. In three days -- from September 18 to September 20 -- the group announced it has turned into nearly zero debt and is implementing long-term fundraising plans that are said to solidify its financial position. <keyword id="20144587" type="General" weightage="20" keywordseo="Reliance-Infrastructure" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Infrastructure" meta.hostid="153" meta.entityid="Reliance Infrastructure">Reliance Infrastructure</keyword>'s board approved <keyword id="20431799" type="General" weightage="20" keywordseo="fund-raising" source="keywords">fund raising</keyword> of up to Rs 6,000 crore via preferential issue and QIP, while <keyword id="20024191" type="General" weightage="20" keywordseo="Reliance-Power" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Power" meta.hostid="153" meta.entityid="Reliance Power">Reliance Power</keyword> board is meeting on September 23 to consider and approve the fundraise via multiple routes. The speed at which Anil Ambani moved to clear the debt of his companies, and simultaneously announce and execute the fund raising plans for future expansion of his companies, has surprised the investors. Shares of both firms surged on stock markets. The announcement to invest Rs 1,100 crore by the promoters group in Anil Ambani's flagship company, Reliance Infrastructure, has further boosted the confidence of investors in the group's revival plans and its long-term growth story, investors said. Anil Ambani's twin strategy of <keyword id="21440133" type="General" weightage="20" keywordseo="debt-reduction" source="keywords">debt reduction</keyword>, coupled with fresh capital raising, has set the stage for a long-term transformation of the Reliance Group, they feel. Reliance Infrastructure's <keyword id="20000950" type="General" weightage="20" keywordseo="market-capitalisation" source="keywords">market capitalisation</keyword> by the end of this week surged nearly 50%, rising from Rs 8,500 crore to Rs 12,500 crore. Similarly, Reliance Power's market capitalisation increased over 25%, moving from Rs 11,500 crore to Rs 14,600 crore. Reliance Infra announced a significant reduction in standalone external debt, lowering it from Rs 3,831 crore to just Rs 475 crore. This was achieved by clearing outstanding dues to prominent lenders such as Life Insurance Corporation of India (LIC), Edelweiss ARC, ICICI Bank, and Union Bank, according to company filings. The move signals a robust financial recovery and enhances Reliance Infra's financial flexibility. Also, Reliance Infra board approved a preferential issue to raise Rs 3,014 crore, increasing the stake of Risee Infinity Pvt Ltd, a promoter group entity, along with other investors such as Florintree Innovation LLP and Fortune Financial &amp; Equities Services Pvt Ltd. The board also approved seeking shareholder authorization to raise an additional Rs 3,000 crore via a qualified institutional placement. This will provide further capital to strengthen the balance sheet and invest in new growth opportunities. With these fund infusions, Reliance Infra's net worth is set to rise from over Rs 9,000 crore to more than Rs 12,000 crore, according to the filings. The company is now well-positioned to invest in high-growth sectors, investors said.

Anil Ambani's Reliance Group starts transformation journey, achieves near zero-debt

Mumbai, <keyword id="462153" type="DOMAIN" weightage="20" keywordseo="IRB-Infrastructure-Developers">IRB Infrastructure Developers</keyword> on Tuesday said that its <keyword id="136326" type="COMPANY" weightage="20" keywordseo="Board-of-Directors">board of directors</keyword> has increased the fund-raising <keyword id="6401555" type="UNKNOWN" weightage="20" keywordseo="limit">limit</keyword> from ₹4,500 crore to ₹5,500 crore. "The Board of Directors of the company on February 9, 2021 has approved the proposal of increasing the limit of raising of funds through various options including by way of issuance of debt securities, non-convertible debentures etc, through permissible routes," the company said in a regulatory filing. The fund would be raised in the in the onshore or offshore market and by public issue or on private placement basis. Shares of IRB Infra were trading at ₹111.20, higher by ₹2.15 or 1.97 per cent from its previous close. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/indian-space-startup-agnikul-cosmos-has-become-the-worlds-first-company-to-successfully-test-a-fully-3d-printed-rocket-engine/articleshow/80762695.cms">Indian space startup fires world’s first fully 3D printed rocket engine as others play catch up</a> <a href="https://www.businessinsider.in/stock-market/news/brookfield-reit-ipo-allotment-heres-how-to-check-share-allotment-status/articleshow/80763971.cms">Brookfield REIT IPO allotment: Here’s how to check share allotment status</a> <a href="https://www.businessinsider.in/tech/news/twitter-ramps-up-roll-out-of-spaces-to-take-on-clubhouse/articleshow/80764144.cms">Twitter ramps up roll out of 'Spaces' to take on Clubhouse</a>

IRB Infrastructure share price rises 2% as board raises fund-raising limit to ₹5,500 crore

<ul><li>Indian stock market indices opened in green on Tuesday.</li><li>Sensex was trading 0.41% higher at 38,956.39; while the Nifty50 was up 0.41% at 11,513.15 points. </li><li>These are the top stocks that are buzzing on D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices, Sensex advanced over 200 points in early trade on Tuesday, tracking gains in financial stocks amid largely positive trends in the global markets. The Sensex was trading 0.41% higher at 38,956.39; while the Nifty50 was up 0.41% at 11,513.15 points. IndusInd Bank was the top gainer in the Sensex pack, rising around 2 per cent, followed by SBI, Bajaj Finance, Bajaj Finserv, Axis Bank, ICICI Bank, HDFC, M&amp;M and Maruti. On the other hand, HCL Tech, Nestle India, UltraTech Cement and Tech Mahindra were among the laggards. These are the top stocks that are buzzing on D-street today: LIC Housing Finance shares surge 10% <div type="image" title="Lic" msid="77735353" hostid="261"></div> LIC Housing Finance Ltd (LICHFL) shares jumped 10% during the early trade minutes on Tuesday after the company reported a 34% jump in its net profit to ₹817.48 crore for the quarter ending June 30. The total income of the company rose 3.4% to ₹4,977.49 crore in April-June 2020. Globus Spirits hit 5% upper circuit <div type="image" title="Globus" msid="77735395" hostid="261"></div> The shares of Globus Spirits hit 5% upper circuit in the early hours of trading after the company’s net profit rose 161.45% to ₹18.72 crore in the quarter ended June 30. Indiabulls Housing Finance up over 3% <div type="image" title="India bulls" msid="77735466" hostid="261"></div> Indiabulls Housing Finance shares gained nearly 3% after the <a href="https://www.business-standard.com/article/companies/indiabulls-housing-in-talks-with-oaktree-to-raise-200-million-in-debt-120082401715_1.html">news reports surfaced </a>suggesting that it is in the final stages of negotiating a deal with Oaktree to raise $200 million in debt. Allcargo Logistics hits 20% upper circuit <div type="image" title="Allcargo" msid="77735496" hostid="261"></div> The share of Allcargo Logistics hit 20% upper circuit on August 25 after promoters proposed to delist the company shares as part of its efforts to pare debt, the company said in a stock-exchange filing on August 24. GMR Infra down 2% <div type="image" title="GMR Infra" msid="77735515" hostid="261"></div> GMR Infra shares slumped 2% after the company said the board would consider raising of funds of up to ₹5000 crore in one or more tranches, through the issue of securities as an enabling resolution as per the requirements of applicable laws which shall be subject to the approval of shareholders. Future Retail advanced 5% <div type="image" title="Future Retail" msid="77735543" hostid="261"></div> Kishore Biyani-led Future Retail shares surged 5% after the company averted a default as it repaid around $14 million (around ₹100 crore) interest on foreign bonds to investors. The 30-day grace period for repaying the interest on ‘5.60 per cent Senior Secured Notes due 2025’ was to end on Monday. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-on-tuesday-future-retail-adani-enterprises-wipro-axis-bank-gmr-infra-lic-housing-finance-and-more/articleshow/77733156.cms" data-type="tilCustomLink">Top stocks to watch on Tuesday— Future Retail, Adani Enterprises, Wipro, Axis Bank, GMR Infra, LIC Housing Finance and more</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-wants-to-increase-data-prices-to-100-per-gb-sunil-mittal-asks-subscribers-to-prepare-to-pay-a-lot-more/articleshow/77734318.cms" data-type="tilCustomLink">Airtel wants to increase data prices to ₹100 per GB, Sunil Mittal asks subscribers to ‘prepare to pay a lot more’</a>

Top stock movers on Dalal Street on Tuesday— Future Retail, GMR Infra, Tech Mahindra, LIC Housing Finance, Allcargo Logistics, and more

New Delhi, Feb 16 () Union Minister Harsimrat Kaur Badal on Sunday inaugurated India Pavilion at GulFood 2020, Dubai, and held discussions with food companies over the potential of business opportunities in India.At the event, a proposal was also mooted to explore possibility of setting up a fund to provide marketing support to launch Indian products in the Gulf nation's super markets. "The FPI Minister held one-on-one meetings with the companies involved in Food business in the UAE. Based on the discussions it was proposed to explore the possibility of setting up a fund for providing marketing support to launch Indian products in the UAE super markets," an official statement said.The Minister for Food Processing Industries held several meetings in Dubai, where she inaugurated the India Pavilion being held from February 16-20.During the discussions with the India UAE Food security corridor project representative, Badal proposed that existing Ministry of Food Processing Industries (MOFPI) supported infra may be utilised to give a head-start to the project.She also emphasised on fast-tracking the project and mentioned that all necessary support will be provided by the ministry through Invest India.The minister took a tour of the fair and interacted with the Indian exhibitors and urged them to make use of the platform of GulFood 2020 for facilitating tie-ups between foreign investors and accelerate the pace of export of food products from India to the western market.While interacting with the exhibitors, she discussed the potential of business opportunities available to them in India, UAE and other countries.Badal informed that the food processing sector in India being a sunrise sector is poised for exponential growth and has emerged as a high growth sector due to its immense potential for value addition, ability to control inflation and ensure remunerative prices to farmers. RSN BAL

Food processing min inaugurates India pavilion at GulFood 2020 in Dubai

New Delhi, Jan 12 () Emerging investment instruments REITs and InvITs seem to be finally catching investors' fancy, with mutual funds investing a whopping Rs 12,000 crore in such units in 2019.
 Fund managers infused Rs 670 crore in real estate investment trusts (REITs) and Rs 11,347 crore in infrastructure investment trusts (InvITs) last year, according to the Securities and Exchange Board of India (Sebi).
 Mutual funds have increased their exposure in these investment avenues over the past one year. Investment by fund houses in REITs jumped to Rs 72.5 crore in December 2019 from a mere Rs 7 crore in January 2019, while the same in InvITs rose to Rs 948 crore from Rs 611 crore during the period under review.
 Market experts believe that REITs could be a potential investment option giving good returns as interest of investors in the residential segment is declining due to inability to monetise assets and limited appreciation in property prices. 
 They further said that investment in InvITs may pick up in the coming months following Reserve Bank of India's decision to allow banks to lend to InvITs.
 Sebi Chairman Ajay Tyagi, who had met scores of foreign investors in the US in October, said he saw keen interest from them in emerging areas such as REITs and InvITs. 
 During the meeting, the participants were enthusiastic about emerging areas such as REITs and InvITs, which have more than USD 10 billion asset size as on date.
 Sebi first issued the guidelines for REITs and InvITs in 2014, and revised them in 2016 and 2017.
 However, mutual funds, which are investment vehicles made up of a pool of funds collected from a large number of investors and invest in stocks, bonds, money market instruments and similar assets, were allowed to invest in REITs and InvITs in February 2017.
 The move was part of the markets watchdog Sebi's effort to get more number of investors into such instruments.
 Under the norms, a mutual fund has been permitted to invest only up to 5 per cent of its net asset value in units of a single issuer of alternative securities. The maximum allowed investment in alternative instruments by a single fund has been capped at 10 per cent.
 Ever since Sebi introduced InvITs, markets witnessed the listing of two public InvITs -- IRB InvIT Fund and India Grid Trust. Three InvITs -- IndInfravit Trust, India Infrastructure Trust, Oriental InfraTrust --- were privately placed. On the other hand, Embassy Office Parks REIT is the only listed real estate investment trust. SP 
ABM

REITs, InvITs pick up steam; mutual funds pour in Rs 12,000 cr in 2019

New Delhi, Jan 29 () Markets regulator Sebi has disposed of adjudicating proceedings against Abhijit Rajan, former chairman of Gammon Infrastructure Projects, in an alleged insider trading case.
 It was alleged that Rajan violated the code of corporate disclosure practices under prevention of insider trading norms.
 "I conclude the allegations levelled in the said SCN (show cause notice) against the noticee i.e Abhijit Rajan does not stand established," Sebi Adjudicating Officer Sangeeta Rathod said in an order passed on Tuesday.
 The regulator undertook a probe in the scrip of Gammon Infrastructure Projects Ltd (GIPL) during July-September 2013 following an input from the NSE concerning the possibility of certain entities having traded in the company's shares on the basis of unpublished price sensitive information (UPSI).
 The matter pertains to Gammon Infra's board decision to approve termination of tie up with Simplex Infrastructure. It was alleged that the termination decision should have been intimated to exchanges immediately, but it was done with a delay of 26 days.
 Rajan, being director of GIPL during the relevant period attended the board meeting, and was alleged to have violated the code of corporate disclosure practices under insider trading norms.
 He contended that GIPL's investment in the Simplex project in the financial year represented only 0.05 per cent of the GIPL's order book value at the end of August 2013, which cannot be construed as price sensitive.
 "It cannot be concluded that the said information is UPSI and that the disclosure of the same to the exchange on a particular date was relevant at that juncture. With regards to the code of conduct followed by the GIPL, I do not observe any deviation of MCC (model code of conduct) from the insider trading code of the GIPL as available on record," Rathod said.
 Accordingly, the Securities and Exchange Board of India (Sebi) disposed of the adjudication proceedings initiated against Rajan.
 Earlier, the Securities Appellate Tribunal (SAT) in November 2014 had set aside a Sebi order that banned Rajan from the capital markets for alleged insider trading.
 In July 2014, the regulator had barred Rajan after finding him guilty of trading in shares on the basis of unpublished price sensitive information. It had also directed him to disgorge an amount of Rs 1.09 crore, which was already deposited by him in an escrow account. This direction was further confirmed by the regulator through a confirmatory order passed in March 2015.
 This was one of the few cases where the CMD of a company came under the scanner in an insider trading case.
 A Sebi probe had found that Rajan had traded on the basis of unpublished price sensitive information pertaining to cancellation of two shareholder agreements of Gammon Infra with Simplex Infrastructure.
 The tribunal had set aside the Sebi's order saying the information in itself was not price sensitive.
 "Considering the minor proportion of the transaction to the turnover of GIPL (Gammon Infra), in our view the information cannot be termed as price sensitive information. Simplex had not even disclosed the said information to the stock exchanges," the tribunal had said.
 Further, the tribunal had said that even if it is assumed that the information is price sensitive, "still the appellant cannot be blamed of insider trading for the reasons that he did not trade on the basis of the information".
 The tribunal had noted that Rajan was able to show that he needed the money that he garnered from sale of shares for infusing capital in one of his firms that was undergoing corporate debt restructuring (CDR) during the time.
 Besides, he was even required to sell his agricultural land and flat.
 "The appellant was able to show his dire need to infuse fund in the entity under the master restructuring agreement to implement a CDR package," the tribunal had said, adding that the amount was deposited in the account of CDR scheme. SP ABM
ABM

Sebi disposes of insider trading case against Gammon Infra's former CMD

Mumbai, Jan 15 () Amid liquidity squeeze faced by non-bank lenders, global buyout major KKR on Wednesday said it will infuse USD 150 million into its Indian non-banking finance company.
 The capital commitment will enhance the KKR India Financial Services' (KIFS) ability to provide loans to local companies by bolstering the financial position, an official statement said.
 The NBFC sector has been in troubles for over a year now, starting with the collapse of infra-focused IL&amp;FS, triggering a liquidity crisis.
 In the statement, KKR's co-presidents and co-chief operating officers Joe Bae and Scott Nuttall said this is a "unique" time in the Indian credit markets, with many lenders being unable to invest despite a demand for alternative credit.
 The commitment "solidifies KIFS' financial position, allows KIFS to be proactive in a dislocated market, and reflects our confidence in KIFS and its mission to finance India's homegrown champions", they said.
 In the past 10 years, KIFS has deployed more than USD 5 billion in over 150 deals in India, it said.
 "Private lending in India is more important than ever. India has been an important part of KKR's global growth strategy in Asia," KKR India Chief Executive Officer Sanjay Nayar said.
 The statement said KKR, a majority owner of KIFS, will fund the investment through its balance sheet. AA HRS

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Anil Ambani's Reliance Group starts transformation journey, achieves near zero-debt

PTI

IRB Infrastructure share price rises 2% as board raises fund-raising limit to ₹5,500 crore

IANS

Top stock movers on Dalal Street on Tuesday— Future Retail, GMR Infra, Tech Mahindra, LIC Housing Finance, Allcargo Logistics, and more

Navdeep Yadav

Food processing min inaugurates India pavilion at GulFood 2020 in Dubai

PTI

REITs, InvITs pick up steam; mutual funds pour in Rs 12,000 cr in 2019

PTI

Sebi disposes of insider trading case against Gammon Infra's former CMD

PTI

KKR to infuse USD 150 mn into Indian NBFC arm

PTI

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