Billionaires Pour in ₹4,500 Cr, NTPC Eyes ₹18,000 Cr, While Zee Entertainment Raises ₹2,237.4 Cr
In a series of significant moves in the Indian financial market, Biocon has launched its Qualified Institutional Placement (QIP) issue to raise ₹4,500 crore at a floor price of ₹340.20 per share. The company has the option to offer up to a 5% discount on this price while finalising the issue price.
Concurrently, state-run power major NTPC is considering raising up to ₹18,000 crore through bond issuance for its upcoming board meeting scheduled for June 21, 2025.
On the other hand, Zee Entertainment has approved the issuance of up to 16.95 crore fully convertible warrants at a price of ₹132 per warrant, amounting to an infusion of ₹2,237.4 crore from promoter group entities.
In addition,Tanla Platforms announced its share buyback proposal worth up to ₹175 crore, while Vishal Mega Mart's promoter entity is estimated to offload around 10% equity stake in the company through block deals.
Macrotech Developers has completed its rebranding as Lodha Developers Limited following Ministry of Corporate Affairs (MCA) approval on June 16, 2025. This comes after a period marked by legal and familial disputes over the use of the 'Lodha' brand name.
Meanwhile, non-banking financial company IIFL Finance has appointed former Reserve Bank of India deputy governor B. P. Kanungo as an independent director, while preparing to raise up to ₹600 crore through issuance of non-convertible debentures (NCDs).
Hyundai Motor announced the start-up of passenger vehicle engine production at its manufacturing facility in Talegaon, Maharashtra on June 15, 2025.
Additionally, India's largest IT services firm TCS has partnered with the Council of Europe Development Bank (CEB) to implement an AI-powered reconciliation solution. ONGC has deployed a Crisis Management Team to control leakage of gas after a five-day blowout incident at a crude oil well in Sivasagar district's Assam.
Lastly, ICICI Bank announced its approval for reappointing executive director Sandeep Batra for a two-year term starting December 23, 2025.