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Sundaram Finance to divest entire stake in Equifax.

Sundaram Finance Limited (SFL) on Wednesday said that it has executed a Share Purchase Agreement for sale of its entire equity stake of 100% in Equifax Credit lnformation Services Private Limited (Equifax). SFL holds 10% stake in Equifax or 1, 35, 00,000 equity shares of Rs10/- each. Equifax is a Credit Information Company and provides various credit information services.

Bharti Airtel announces successful completion of raising $3bn via QIP & FCCB.

Bharti Airtel on Wednesday announced the successful fund raising exercise through completion of Qualified Institutional Placement (QIP) and pricing of Foreign Currency Convertible Bonds (FCCBs). The transaction is the largest dual tranche Equity and FCCB offering ever in Asia-Pacific, the largest QIP by a private sector issuer ever in India and the largest FCCB offering from an India issuer in the last 12 years. The overall allotment is pre-dominantly to long only investors, thereby also ensuring diversification of the shareholder base of Bharti Airtel. The Company raised $2bn through the QIP route, which saw participation by highly reputed global and Indian investors. The Company accordingly will issue 323,595,505 equity shares of face value of Rs5 per equity share at a price of Rs445 which implies a discount of 1.57% on the SEBI determined floor price of Rs. 452.09 per equity share. Post the QIP issue, the holding of promoter and promoter group will be 58.98 % as against 62.70%.

Alembic Pharma gets USFDA tentative approval for Empagliflozin tablet.

Alembic Pharmaceuticals has received tentative approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Empagliflozin Tablets, 10 mg and 25 mg. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Jardiance Tablets, 10 mg and 25 mg, of Boehringer lngelheim Pharmaceuticals, Inc. (Boehringer).

Yes Bank acquires 29.97% stake of Rosa Power; to seek shareholders’ nod for raising Rs10,000cr.

Shares of Yes Bank took a U-turn on Wednesday. The company’s shares are currently trading marginally higher.
The bank informed regarding the invocation of pledge of shares, acquired 127,321,500 equity shares having nominal value of Rs10/- per share, constituting ~29.97% of the post-issue paid-up share capital of Rosa Power Supply Company Limited, a wholly owned subsidiary of Reliance Power Limited (RPSCL).

Sun Pharma & Rockwell Medical enter licensing agreement for Triferic in India.

Sun Pharmaceutical Industries announced that one of its wholly owned subsidiaries has entered into exclusive licensing and supply agreements with Rockwell Medical Inc. (Rockwell), to commercialize Rockwell’s Triferic, a proprietary iron replacement and haemoglobin maintenance drug, for treating anaemia in hemodialysis patients in India. Triferic is approved in USA. Sun Pharma will be the exclusive development and commercialization partner for Triferic during the term of the agreement, subject to its approval in India. In consideration for the license, Rockwell will be eligible for upfront and milestone payments as well as royalty on net sales. The financial terms of the agreement are confidential.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

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