Stocks to Watch: Zomato, Maruti Suzuki, SpiceJet, IDFC First Bank
Zomato: Svf Growth (Singapore) Pte, part of Japan’s SoftBank Group, will sell a 1.1% stake in food-delivery company Zomato Ltd Friday for an estimated ₹1,127.5 crore, or $135 million, as per the term sheet of the block deal. The floor price of the deal is set at ₹120.5 per share, a discount of about 1.1% to Zomato’s Thursday closing price of ₹121.80 on the BSE.
Maruti Suzuki: Has received an order for dropping a show-cause notice issued by the Gujarat Goods and Services Tax (GST) Authority in September, demanding ₹1.79 crore for the period of July 2017 to March 2018 on account of the reconciliation of tax returns filed by the company. IDFC First Bank: Dayside Investment, an affiliate of US-based private equity firm Warburg Pincus, on Thursday divested a 1.3% stake in private lender IDFC First Bank through an open market transaction for ₹790 crore.
SpiceJet: The cash-strapped, low-cost airline is likely to raise ₹10 billion to ₹12 billion rupee in fresh capital to pay pending salaries and revive its grounded fleet of 25 aircraft. The board of the company will meet on 11 December to consider raising capital through an issue of equity shares or convertible securities on a preferential basis.
IIFL Securities: The Securities Appellate Tribunal has overturned a Securities and Exchange Board of India (Sebi) order restricting IIFL Securities from acquiring new clients. The tribunal also lowered the penalty from Sebi’s initial fine of ₹1 crore to ₹20 lakh.
Shriram Finance: Has signed a master agreement with Small Industries Development Bank of India for co-lending to micro, small, and medium enterprises (MSMEs) borrowers by way of back-to-back assignments of loans and loan portfolios in tranches. Jindal Saw: The manufacturer of
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