Linde India delisting offer
Linde India has received a delisting proposal from its promoter BOC India. The BOC group, which holds 75 per cent in Linde India, intends to acquire 2.13 crore shares or 25 per cent of the paid-up share capital, it said in a notice to the exchanges. The objective of making the delisting offer is to obtain full ownership, which will provide the promoter group with operational flexibility to support the company’s business and future financing needs, the statement said. The delisting price will be determined in accordance with the reverse book building process as set out in the delisting regulations. Reliance Industries on Friday said it has raised ₹3,000 crore through a privately placed debenture issue. The unsecured, nonconvertible redeemable debentures offered 8.95 per cent return with a 10-year maturity, the company said in a regulatory filing. The notes “shall be redeemed at par at the end of 10 years from the date of allotment — November 9, 2028,” it said. RIL, which has invested more than $30 billion over the past five years across energy, petrochemicals, retail, and telecom verticals, did not say where it will use the proceeds of the issue. Two Indian-origin brothers have been charged by the US federal regulator for deceiving investors by purporting to provide unbiased research reports on certain publicly-traded small- and micro-cap companies. Ajay Tandon, 41, and Amit Tandon, 47, of New York and stock research firm SeeThruEquity co-founded by them were charged by the SEC. According to the SEC’s complaint, SeeThruEquity and the Tandon brothers camouflaged the payments by inviting companies to make a “presentation” at an investor conference in order to receive a research report for free.
Wall Street effect Asian stock markets fell on Friday after a post-election Wall Street rally faded amid expectations of US interest rate hikes despite the Federal Reserve’s decision to hold off this week AP