Latest news with #QIP
United News of India
2 days ago
- Business
- United News of India
Swan Energy logs record Rs 6,884 crore income in FY25
Mumbai, May 30 (UNI) Swan Energy Limited has reported its highest-ever income and profitability for the financial year ended March 31, 2025, with consolidated income rising by 35 per cent to ₹6,884 crore and profit after tax (PAT) surging by 49 per cent to ₹874 crore. The company had posted an income of ₹5,100 crore and PAT of ₹586 crore in FY24. The diversified Indian conglomerate, with interests in textiles, real estate, oil and gas, shipbuilding and heavy fabrication, also saw its EBITDA rise sharply by 90 per cent to ₹1,804 crore in FY25, as against ₹951 crore in the previous fiscal. The EBITDA margin improved to 26.2 per cent from 18.6 per cent a year earlier. According to the company's regulatory filing, the improved financial performance was driven by significant debt reduction following a ₹3,320 crore Qualified Institutions Placement (QIP), successful commissioning of shipyard operations under Swan Defence and Heavy Industries (SDHI), and progress across its real estate and energy verticals. SDHI, formerly Reliance Naval and Engineering Ltd, resumed operations and delivered three refits ahead of schedule for the Indian Coast Guard. The company has also signed strategic MoUs with major shipbuilding players. In the real estate segment, the company's flagship residential project Cardinal One in Yeshwanthpur, Bengaluru received its Occupation Certificate, with over 90 per cent of the units sold. In the LNG business, subsidiary Triumph Offshore Pvt Ltd sold its Floating Storage and Regasification Unit (FSRU) 'Vasant-1' for around $399 million. The onshore LNG terminal at Jafrabad, Gujarat is nearing completion, with long-term regasification agreements secured with public sector undertakings including GSPC, BPCL, IOCL, and ONGC. Commenting on the results, Managing Director Mr Nikhil Merchant said the financial year marked a significant milestone in Swan Energy's journey. "Our highest ever revenue and profitability reflect the strength of our diversified business model and prudent financial management," he said. He added that the groundwork laid across verticals, including new energy and shipbuilding, has positioned the company well to capitalise on emerging opportunities. UNI BDN SSP
Business Standard
3 days ago
- Business
- Business Standard
Board of Equitas Small Finance Bank approves QIP issue of Rs 1250 cr
At meeting held on 30 May 2025The Board of Equitas Small Finance Bank at its meeting held on 30 May 2025 has approved raising of funds by way of issuance of such number of equity shares or any other eligible securities and / or other securities convertible into equity shares including warrants, or otherwise (collectively Securities) for an aggregate amount not exceeding Rs.1,250/- crore by way of Qualified Institutions Placement (QIP) and / or through any other permissible mode, in one or more tranches. Powered by Capital Market - Live News
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Business Standard
23-05-2025
- Business
- Business Standard
JSW Steel Q4 FY25 results: Net profit rises 15.7% to ₹1,503 crore
JSW Steel on Friday reported a 15.7 per cent year-on-year (Y-o-Y) increase in consolidated net profit to ₹1,503 crore in the January-March quarter (Q4) of 2025 (FY25). The rise was on the back of lower coking coal prices and improving margins. In the year-ago period, the flagship firm of the Sajjan Jindal group had recorded a net profit of ₹1,299 crore. JSW Steel's profit for the quarter fell short of the Bloomberg consensus estimate of ₹1,608 crore. Total revenue for the quarter stood at ₹44,819 crore, down 3.1 per cent Y-o-Y on lower realisations. The Bloomberg consensus estimate for revenue was ₹44,720 crore. The company's consolidated crude steel production for the quarter increased by 9 per cent Q-o-Q and 12 per cent Y-o-Y, and stood at 7.63 million tonnes (mt). Steel sales stood at 7.49 mt, up 12 per cent Q-o-Q and 11 per cent Y-o-Y. JSW Steel said it had achieved consolidated annual production of 27.79 mt and sales of 26.45 mt, meeting the revised volume guidance announced in Q3FY25. For the full year FY25, consolidated revenue stood at ₹168,824 crore, down 3.5 per cent from the previous year. Net profit was down 60.2 per cent at ₹3,504 crore. For FY26, the company's guidance for crude steel production and sales was 30.50 mt and 29.20 mt, respectively. JSW's consolidated capex spend during Q4FY25 was ₹3,719 crore. The total spend for the full year was ₹14,656 crore. Due to healthy cash generation, release of working capital, and calibrated capex, the firm's net debt stood at ₹76,563 crore as of March 31, 2025 – ₹4,358 crore less from December 31, 2024. The board on Friday approved raising of long-term funds to the tune of ₹19,000 crore through QIP and NCD issue. It also recommended a dividend of ₹2.80 per equity share. On the outlook, JSW said it expected further rate cuts by the RBI and a change in its monetary policy stance to accommodative from neutral. This would augur well for private capex. Government capex was expected to see healthy growth in FY26 too, it added.
Economic Times
20-05-2025
- Business
- Economic Times
Torrent Pharmaceuticals Q4 Results: Net profit rises 11% to Rs 498 crore
Torrent Pharmaceuticals Ltd on Tuesday reported an 11 per cent rise in consolidated net profit at Rs 498 crore in the fourth quarter ended March 2025. The company, which had posted a consolidated net profit of Rs 449 crore in the corresponding quarter previous fiscal, announced the appointment of Aman Mehta -- elder son of Torrent Group Chairman Samir Mehta -- as Managing Director, effective August 1, 2025 as part of its succession planning. ADVERTISEMENT Consolidated total revenue from operations in the fourth quarter stood at Rs 2,959 crore as against Rs 2,745 crore in the same period a year ago, Torrent Pharmaceuticals Ltd said in a regulatory filing. Total expenses in the fourth quarter were higher at Rs 2,252 crore as compared to Rs 2,145 crore in the year-ago period, it added. During the quarter, the company said it had an exceptional item outgo of Rs 24 crore to settle a litigation over alleged price overcharging and demand raised by the National Pharmaceutical Pricing Authority (NPPA) in 2017. In the fourth quarter, India revenue was at Rs 1,545 crore, up 12 per cent led by outperformance in focus therapies. On the other hand, Brazil revenue was at Rs 351 crore, down 6 per cent, impacted by steep Brazilian Real (BRL) depreciation, it added. US business revenue was at Rs 302 crore, up by 15 per cent, and Germany revenue was up 2 per cent at Rs 286 crore, the company said. ADVERTISEMENT For fiscal 2024-25, consolidated net profit was at Rs 1,911 crore as against Rs 1,656 crore in 2023-24, the company said. FY25 consolidated total revenue from operations stood at Rs 11,516 crore as against Rs 10,728 crore in FY24, it added. ADVERTISEMENT Torrent Pharma said its board has recommended the members to obtain enabling approval to raise up to Rs 5,000 crore through issuance of equity shares, including via convertible bonds/debentures through Qualified Institutional Placement (QIP) and or any other modes in the upcoming Annual General Meeting. The board also recommended a final dividend of Rs 6 per equity share of Rs 5 each. Earlier an interim dividend of Rs 26 per equity share was paid during the last quarter, it added. (You can now subscribe to our ETMarkets WhatsApp channel)
Mint
19-05-2025
- Business
- Mint
Block deals stage a comeback, defying IPO lull, volatility
Block deals are making a comeback, offering much-needed relief to India's equity capital markets amid an ongoing lull in initial public offerings (IPOs) and heightened volatility, according to experts. In just the first 15 days of May, investors executed 12 block deals worth ₹3,541.97 crore compared with only five deals aggregating ₹506.37 crore in April, according to data from Prime Database. Last week alone, nearly six large transactions took place; Antfin sold 4% stake in Paytm, General Atlantic divested 6.9% in KFin Technologies, and Singapore Telecommunications Ltd offloaded 1% stake to Bharti Airtel. Sajjan Jindal Family Trust also plans to sell shares worth up to ₹1,200 crore in JSW Infrastructure through a block deal in the coming days, according to media reports. 'This has been on account of a rebound in market sentiment and geopolitical de-escalation and supported by close to $3 billion in FII net inflows this quarter, along with steady DII participation, signaling renewed investor confidence," said Gaurav Sood, managing director and head, equity capital markets at Avendus Capital, an investment banking firm. Also read | Sebi seeks to streamline QIP disclosures but experts flag legal hurdles Global tailwinds are also contributing to this rebound. The US has dialled back aggressive tariff policies and is working to resolve trade tensions with its key partners. 'With the US now working to finalize trade treaties with its largest trade partners has eased this tension on the markets, which has been one of the factors that has led to a rebound in Indian equities," said Abhimanyu Bhattacharya, partner at Khaitan & Co., a law firm advising on ECM deals. The expiry of lock-in periods for recently listed companies is expected to push more block trades into the market. Large investors may now look to encash stakes in startups and tech companies listed in 2023. Recently listed online food delivery player Swiggy's six-month lock-in period for non-promoter, pre-IPO shareholders expired on 12 May. Read this | From drought to revival: Are QIPs paving the way for new listings? 'The volume of IPOs last calendar year (~$20 billion) will see lock-up expiry, which will provide supply of block deal paper," said Mahesh Natarajan, managing director and head, ECM, Nomura. He added that several companies that adjusted their IPO sizes—both in the primary and secondary markets—are likely to return to the market once their lock-in periods end. Bankers believe block trades act as leading indicators of a broader revival in ECM activity. Block deals are faster to execute, offer immediate liquidity, and provide clear pricing—especially when there is strong institutional interest. In comparison, IPOs demand deeper investor scrutiny and have seen lukewarm traction in recent times. Qualified institutional placements (QIPs), on the other hand, remain a flexible tool as they are largely opportunistic and driven by company-specific funding requirements. 'Unlike block trades, IPOs/QIPs typically have a slightly longer lead time due to regulatory requirements," explained Chirag Negandhi, MD, JM Financial. With the recent market uptick, he anticipates a wave of ECM launches to gain traction. Also read | QIPs by state-owned banks: A push for compliance but little upside for investors Since its September peak till the end of April, the Nifty 50 has slipped 7%. Meanwhile, the market's fear gauge-India VIX-has surged 52%, signalling a sharp rise in market volatility and investor unease. Since the beginning of May, Nifty 50 has recovered 3% of those losses and is now down 4.6% since the September peak. Owing to the volatility, over the past quarter IPO activity has slowed even as a number of companies have taken steps for a public listing in the near term. Since then, the public markets have seen some recovery. Law firms advising on capital market deals say IPO and QIP pipelines remain soft, but strong block deal momentum could turn the tide if markets stay stable over the next few months. 'The other segments, including IPOs and QIPs, have been slower over the last few months due to the correction in the market. If there is an upward movement and stability demonstrated, all ECM categories may eventually see upward traction," said Birbahadur Sachar, partner, JSA Advocates & Solicitors. Read this | FII game plan: Sell stocks for profit, bet on IPOs, discounted QIPs, block deals Amit Ramchandani, managing director and chief executive officer, investment banking, Motilal Oswal Financial Services, believes, 'Block deals increase after companies declare results as many of these deals are done by insiders who are prohibited to sell the stock after quarter end till declaration of results". He added that key concerns—whether related to Pakistan, tariffs, or foreign investment flows—have now been addressed. And with strong scale and growth potential, India is well-positioned to attract capital.
