Bharti Airtel's board approved sale of up to 59.18 crore equity shares, representing 32% stake of Bharti Infratel owned by the company to its arm Nettle Infrastructure Investments. After the deal, Bharti Airtel will own 18.33% stake in its Infratel arm and Nettle Infrastructure Investments and the public will hold 35.18% and 46.49%, respectively.
Further, the board formed and authorised 'special committee of directors for fund raising' to comprehensively explore/evaluate various options of fund-raising for the company to strengthen its capital structure and balance sheet and place the final recommendation before the board for its approval/final decision. Separately, the Bharti Airtel board Thursday named Badal Bagri as the company's new CFO, who will replace global CFO Nilanjan Roy, who has resigned. The announcements were made after market hours yesterday, 20 December 2018.
Coal India said that its board approved interim dividend of Rs 7.25 per share for the financial year 2018-2019. The record date is on 31 December 2018. The announcement was made after market hours yesterday, 20 December 2018.
Infosys announced that its board of directors has appointed Nilanjan Roy as Chief Financial Officer (CFO) of the company, effective 1 March 2019. Nilanjan Roy joins Infosys from Bharti Airtel where he holds the position of Global Chief Financial Officer. Jayesh Sanghrajka will resume his responsibilities as Deputy CFO, effective 1 March 2019. The announcement was made after market hours yesterday, 20 December 2018.
Punjab National Bank (PNB) said that credit ratings agency CRISIL revised ratings on PNB's bonds to CRISIL AA+/CRISIL AA- from 'CRISIL AAA/CRISIL AA. CRISIL has removed its ratings on the debt instruments from rating watch with 'Negative' and has assigned a 'Stable' outlook on the long-term rating. The announcement was made after market hours yesterday, 20 December 2018.
NHPC announced that Parbati-III power station (520 MW) in Himachal Pradesh will be under complete shutdown for three months with effect from 20 December 2018 for 'repair and maintenance of HRT'. Further, NHPC said its buyback offer will open on 1 January 2019. The company will buyback up to 21.42 crore equity shares at Rs 28 each. The offer will close on 14 January 2019. The announcements were made after market hours yesterday, 20 December 2018.
Bosch announced that considering the current market situation and reduction in the volumes due to reduction in the customers' requirement, it is proposed to suspend all manufacturing operations at the company's Bidadi Plant in Karnataka on Friday, 28 December 2018 and Saturday, 29 December 2018. There is no financial impact on account of the proposed suspension of operations. The announcement was made after market hours yesterday, 20 December 2018.