HDFC Bank: The private sector lender has sought approval from shareholders for re-appointment of Sashidhar Jagdishan as managing director and chief executive officer of the bank and the appointment of V Srinivasa Rangan as executive director of the bank. State Bank of India: India's largest lender, State Bank of India, is acquiring 20% stake in SBI Pension Funds for ₹229.5 crore. The stake is held by SBI Capital.
With this transaction, the lender's stake in SBI Pension Funds will hit 80%. Bharti Airtel: Has received an order for penalty of ₹3.95 lakh under the CGST Act. The company said it does not agree with the order and will take appropriate action.
Bank of India: The public sector lender has launched a qualified institutional placement (QIP) at floor price of 105.42 rupees apiece, it said in a regulatory filing on Monday. It is reportedly looking to raise up to ₹4,500 crore. Canara Bank: The public sector will likely issue AT-1 bonds in December to raise up to ₹2,000 crore to ₹3,000 crore.
The issue is likely to have a call option at end of five years. Canara Bank last raised ₹2,000 crore in September 2022 through AT-1 bonds at 7.99% coupon. Honasa Consumer: Fireside Ventures Investment Fund I has offloaded ₹230.15 crore worth of shares in Honasa Consumer, the parent company of the beauty and personal care products brand Mamaearth.
About 60.88 lakh shares were sold at an average price of ₹378 apiece. Ashok Leyland: Has raised its stake in Switch Mobility's holding company to 92.19% from 91.63%. It had deployed around ₹662.5 crore as the first tranche of a planned ₹1,200 crore investment.
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