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Bayer to acquire Monsanto in all cash transaction

Bayer to acquire Monsanto in all cash transaction

Sep 14,2016

Monsanto India announced that Bayer and Monsanto signed definitive agreement under which Bayer will acquire Monsanto for USD 128 per share in an all cash transaction.

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19.5% Growth in Foreign Tourist arrivals in May 2017 over May 2016
Jun 16,2017

The following are the important highlights regarding FTAs & also FTAs on e-Tourist Visa from tourism during the month of May, 2017.

Foreign Tourist Arrivals (FTAs):

n++ The number of FTAs in May, 2017 were 6.30 lakh as compared to FTAs of 5.27 lakh in May, 2016 and 5.09 lakh in May, 2015.

n++ The growth rate in FTAs in May, 2017 over May, 2016 is 19.5% compared to 3.5% in May, 2016 over May, 2015.

n++ FTAs during the period January- May 2017 were 42.15 lakh with a growth of 16.4%, as compared to the FTAs of 36.22 lakh with a growth of 8.7% in January- May 2016 over January- May 2015.

n++ The percentage share of Foreign Tourist Arrivals (FTAs) in India during May 2017 among the top 15 source countries was highest from Bangladesh (29.73%) followed by USA (14.37%), UK (6.76%), Malaysia (3.64%), China (2.91%), Sri Lanka (2.68%), Japan(2.38%), Germany (2.34%), Canada (2.33%), Australia (2.26%), Singapore (1.99%), France (1.77%), Afghanistan (1.76%), Nepal (1.73%) and Republic of Korea (1.52%).

n++ The percentage share of Foreign Tourist Arrivals (FTAs) in India during May 2017 among the top 15 ports was highest at Delhi Airport (24.17%) followed by Haridaspur Land check post (17.06%), Mumbai Airport (15.04%),Chennai Airport (7.75%), Bengaluru Airport (6.50%), Kolkata Airport (5.29%), Gede Rail Land check post (3.62%), Hyderabad Airport (3.33%),Cochin Airport (3.25%), Ghojadanga land check post (2.14%), Tiruchirapalli Airport (1.76%), Ahmadabad Airport (1.61%), Trivandrum Airport (1.36%), Goa Airport (0.78%),and Attari-Wagh Airport (0.77%).

Foreign Tourist Arrivals (FTAs) on e-Tourist Visa

n++ During the month of May, 2017 total of 0.68 lakh tourist arrived on e-Tourist Visa as compared to 0.44 lakh during the month of May 2016 registering a growth of 55.3%.

n++ During January- May 2017, a total of 6.50 lakh tourist arrived on e-Tourist Visa as compared to 4.35 lakh during January-May 2016, registering a growth of 49.4%.

n++ The percentage shares of top 15 source countries availing e- Tourist Visa facilities during May, 2017 were as follows:

USA (15.1%), UK (13.1%), China (8.4%), Germany (4.3%), Australia (4.1%), France (4.0%), Canada (3.9%), Korea (Rep.of) (3.4%), Singapore (2.8%), Malaysia (2.5%), Russian Fed (2.2%), Spain (2.1%), UAE (2.0%), Thailand (1.9%), and South Africa (1.6%).

The percentage shares of top 15 ports in tourist arrivals on e-Tourist Visa during May, 2017 were as follows:-

New Delhi Airport (45.1%), Mumbai Airport (21.4%), Bengaluru Airport (8.6%), Chennai Airport (7.8%), Kochi Airport (3.6%), Hyderabad Airport (2.8%), Kolkata Airport (2.5%), Dabolim (Goa) Airport (1.9%), Ahmadabad Airport (1.4%), Amritsar Airport (1.2%), Tirchy Airport (1.1%), Trivandrum Airport (1.1%), Jaipur Airport (0.4%), Calicut Airport (0.4%)and Pune Airport(0.3%) .

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Reduced Tax Liabilities under GST regime in comparison to present combined Indirect Tax rates
Jun 16,2017

The new indirect tax regime in the country is to come into effect from 01.07.2017, wherein fixation of GST rates on the supplies is joint responsibility of the Central and State governments after the approval from the GST Council.

In a majority of supplies of goods, the tax incidence approved by the GST Council is much lower than the present combined indirect tax rates levied [on account of central excise duty rates / embedded central excise duty rates / service tax post-clearance embedding, VAT rates or weighted average VAT rates, cascading of VAT over excise duty and tax incidence on account of CST, Octroi, Entry Tax, etc.] by the Centre and States.

A list of such supplies, where the GST incidence is lower than the present combined indirect tax rates are reflected as under:

S. 

No.

Chapter / Heading / Sub-heading / Tariff itemDescription of goods14

Milk powder

24

Curd, Lassi, Butter milk put up in unit container

34

Unbranded Natural Honey

40401

Ultra High Temperature (UHT) Milk

50405

Dairy spreads

60406

Cheese

7801

Cashew nut

8806

Raisin

99

Spices

109

Tea

1110

Wheat

1210

Rice

1311

Flour

1415

Soyabean oil

1515

Groundnut oil

1615

Palm oil

1715

Sunflower oil

1815

Coconut oil

1915

Mustard Oil

2015

Sunflower oil

2115

Other vegetable edible oils

2217

Sugar

231702

Palmyra jaggery

241704

Sugar confectionery

251902

Pasta, spaghetti, macaroni, noodles

2620

Fruit and vegetable items and other food products

272001, 2004

Pickle, Murabba, Chutney

2821

Sweetmeats

292103

Ketchup & Sauces

302103 30 00

Mustard Sauce

312103 90 90

Toppings, spreads and sauces

322106

Instant Food Mixes

332106

Other pulses bari (mungodi)

3422

Mineral water

352201 90 10

Ice and snow

3625

Cement

3727

Coal

3827

Kerosene PDS

3927

LPG Domestic

4030

Insulin

4133

Agarbatti

4233

Tooth powder

4333

Hair oil

4433

Toothpaste

453304 20 00

Kajal [other than kajal pencil sticks]

4634

Soap

4737

X ray films for medical use

483822

Diagnostic kits and reagents

The trade deficit for May 2017 was estimated at US$ 13841.72 million
Jun 16,2017

Exports have been exhibiting positive growth for the last eight months. In continuation withgrowth indicated by exports since September 2016, exports during May 2017have shown growth of 8.32per cent in dollar terms valued at US$ 24014.62million as compared to US$ 22170.62 million during May,2016. In Rupee terms, duringMay 2017 exports were valued at Rs. 154713.69crore as compared to Rs. 148336.31crore during May,2016, registering a positive growth of 4.30 per cent.

During May 2017, Major commodity groups of export having a share of 72.09% in total export basket which have shown positive growth over the corresponding month of last year are Engineering Goods (8.25%), Gems& Jewellery (6%), Petroleum Products (24.92%), RMG of all Textiles (8.06%), Organic & Inorganic Chemicals (15.34%),Rice (27.08%), Marine Products (44.58%) and Electronic Goods (8.57%).

Cumulative value of exports for the period April-May 2017-18 was US $48649.71 million (Rs 313627.48 crore) as against US $42739.47 million (Rs 285056.42 crore) registering a positive growth of 13.83 per cent in Dollar terms and 10.02 per cent in Rupee terms over the same period last year.

Non-petroleum and Non Gems & Jewellery exports in May 2017 were valued at US$ 17514.36million against US$ 16404.31million in May 2016, an increase of 6.77 %. Non-petroleum and Non Gems and Jewellery exports during April -May 2017-18 were valued at US$ 35233.23 million as compared to US$ 31540.72 million for the corresponding period in 2016-17, an increase of 11.71%.

IMPORTS

Imports during May 2017 were valued at US$ 37856.34 million (Rs. 243888.74 crore) which was 33.09per cent higher in Dollar terms and 28.16per cent higher in Rupee terms over the level of imports valued at US$ 28443.52 million (Rs. 190306.19crore) in May, 2016. Cumulative value of imports for the period April-May 2017-18 was US$ 75740.62 million (Rs. 488269.26 crore) as against US$ 53857.24 million (Rs. 359229.90 crore) registering a positive growth of 40.63 per cent in Dollar terms and 35.92 per cent in Rupee terms over the same period last year.

Major commodity group of imports showing high growth in May 2017 over the corresponding month of last yearare Petroleum, Crude &products (29.54%),Gold(236.69%), Electronic goods(34.16%), Pearls, precious & Semi-precious stones(37.61%) and Machinery, electrical & non-electrical(6.42%).

CRUDE OIL AND NON-OIL IMPORTS:

Oil imports during May, 2017 were valued at US$ 7692.71 million which was 29.54percent higher than oil imports valued at US$ 5938.59million in May 2016.Oil imports during April-May, 2017-18 were valued at US$ 15051.98 million which was 29.82 per cent higher than the oil imports of US$ 11594.51 million in the corresponding period last year.

In this connection it is mentioned that the global Brent prices ($/bbl) have increased by 7.94% in May 2017 vis-n++-vis May 2016 as per World Bank commodity price data (The pink sheet).

Non-oil imports during May, 2017 were estimated at US$ 30163.63 million which was 34.03per cent higher than non-oil imports of US$ 22504.93million in May, 2016. Non-oil imports during April-May 2017-18 were valued at US$ 60688.64 million which was 43.60 per cent higher than the level of such imports valued at US$ 42262.73 million in April-May, 2016-17.

II. TRADE IN SERVICES (for April, 2017, as per the RBI Press Release dated 15th June, 2017)

EXPORTS (Receipts)

Exports during April 2017 were valued at US$ 12904 Million (Rs. 83239.96Crore) registering a negative growth of 8.99 per cent in dollar terms as compared to positive growth of 8.57 per cent during March 2017 (as per RBIs Press Release for the respective months).

IMPORTS (Payments)

Imports during April 2017 were valued at US$ 7222 Million (Rs. 46587.03Crore) registering a negative growth of 12.64per cent in dollar terms as compared to positive growth of 14.26 per cent during March2017 (as per RBIs Press Release for the respective months).

III. TRADE BALANCE

MERCHANDISE: The trade deficit for May 2017 was estimated at US$ 13841.72 million as against the deficit of US$ 6272.90 million during May 2016.

SERVICES: As per RBIs Press Release dated 15th June2017, the trade balance in Services (i.e. net export of Services) for April, 2017 was estimated at US$ 5682 million.

OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April- May 2017-18 is estimated at US$ 21408.91 million as compared to US$ 5392.77 million during April-May 2016-17. (Services data pertains to April 2017 as April 2017 is the latest data available as per RBIs Press Release dated 15th June 2017)

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SCI corrects on profit booking
Jun 16,2017

Meanwhile, the S&P BSE Sensex was up 90.82 points, or 0.29% to 31,166.55.

On the BSE, 1.71 lakh shares were traded in the counter so far, compared with average daily volumes of 4.58 lakh shares in the past one quarter. The stock had hit a high of Rs 85.85 and a low of Rs 83.35 so far during the day. The stock hit a 52-week high of Rs 92 yesterday, 15 June 2017. The stock hit a 52-week low of Rs 55.75 on 21 November 2016.

The stock had outperformed the market over the past one month till 15 June 2017, rising 4.91% compared with 1.36% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 31.59% as against Sensexs 4.81% rise. The scrip had also outperformed the market in past one year, rising 27.08% as against Sensexs 17.15% rise.

The mid-cap company has equity capital of Rs 465.80 crore. Face value per share is Rs 10.

Shares of Shipping Corporation of India (SCI) rose 18.78% in three trading sessions to settle at Rs 85.40 yesterday, 15 June 2017, from its close of Rs 71.90 on 12 June 2017.

The stock jumped 7.62% to settle at Rs 85.40 yesterday, 15 June 2017, on reports NITI Aayog has proposed strategic sale of about 26% stake in the company. According to reports, the core group of secretaries on disinvestment, headed by the cabinet secretary, discussed the proposal and has mandated the Shipping Ministry to find out legal hassles, if any, in the process. The proposal will soon go to the Cabinet Committee on Economic Affairs, reports added.

The government, at present, holds 63.75% stake in SCI. After the sale of 26% stake, the government holding in the company will come down to 37.75%. The sale of 26% stake could fetch about Rs 960 crore to the exchequer. The government has budgeted to raise Rs 15000 crore through strategic sale of PSUs this fiscal.

Net profit of Shipping Corporation of India declined 58.78% to Rs 92.36 on 5.09% decline in net sales to Rs 897.73 crore in Q4 March 2017 over Q4 March 2016.

Shipping Corporation of India in the largest Indian shipping company. The SCI also has substantial interests in various segments of the shipping trade.

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Board of Dhanvarsha Finvest approves change in directorate
Jun 16,2017

Dhanvarsha Finvest announced that the Board of Directors have appointed Karan Neale Desai as Non Executive Professional Director and have taken on record resignation received from Hitendra Shah and Jayshribahen Shah.

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Public Procurement (Preference to Make in India), Order 2017 issued
Jun 16,2017

The Government has issued Public Procurement (Preference to Make in India), Order 2017 today as part of the policy of the Government of India to encourage Make in India and promote manufacturing and production of goods and services in India with a view to enhancing income and employment. Subject to the provisions of this Order and to any specific instructions issued by the Nodal Ministry or in pursuance of this Order, purchase preference shall be given to local suppliers in all procurements undertaken by procuring entities in the manner specified .As per the order the minimum local content shall ordinarily be 50%. The Nodal Ministry may prescribe a higher or lower percentage in respect of any particular item and may also prescribe the manner of calculation of local content. The margin of purchase preference shall be 20% . Ministries /Departments and the Boards of Directors of Government companies may issue such clarifications and instructions as may be necessary for the removal of any difficulties arising in the implementation of this Order.

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Jindal Worldwide declines on profit booking
Jun 16,2017

Meanwhile, the S&P BSE Sensex was up 69.53 points, or 0.22% at 31,141.93. The S&P BSE Small-Cap index was up 82.87 points, or 0.53% at 15,728.76.

On the BSE, 22,000 shares were traded on the counter so far as against the average daily volumes of 30,000 shares in the past two-weeks. The stock had hit a high of Rs 650 so far during the day, which is also its record high. The stock had hit a low of Rs 599.35 so far during the day. The stock had hit a 52-week low of Rs 142.50 on 21 June 2016.

Jindal Worldwide had rallied 49.65% in the preceding three trading sessions to settle at Rs 637.15 yesterday, 15 June 2017, from its closing of Rs 425.75 on 12 June 2017.

Jindal Worldwides net profit spurted 106.5% to Rs 23.97 crore on 26.8% increase in net sales to Rs 368.02 crore in Q4 March 2017 over Q4 March 2016.

Jindal Worldwide is the leader in Indian textile Industries and is operating in Indian contingent as well as having its international collaboration and clients in north and South America to Europe, Africa and Middle-East Asia.

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IPCA Lab slumps after USFDA bans drugs from three plants
Jun 16,2017

The announcement was made after market hours yesterday, 15 June 2017.

Meanwhile, the S&P BSE Sensex was up 62.99 points, or 0.20% to 31,138.72.

On the BSE, 2.03 lakh shares were traded in the counter so far, compared with average daily volumes of 17,332 shares in the past one quarter. The stock had hit a high of Rs 468 and a low of Rs 437 so far during the day. The stock hit a 52-week high of Rs 656 on 5 April 2017. The stock hit a 52-week low of Rs 435 on 24 June 2016.

The stock had underperformed the market over the past one month till 15 June 2017, falling 5.75% compared with 1.36% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 6.55% as against Sensexs 4.81% rise. The scrip had also underperformed the market in past one year, rising 6.95% as against Sensexs 17.15% rise.

The mid-cap company has equity capital of Rs 25.24 crore. Face value per share is Rs 2.

IPCA Laboratories said that drugs manufactured at its facilities at SEZ Indore (Pithampur), Piparia (Silvassa) and Ratlam (Madhya Pradesh) have been banned from the US market by the US Food and Drug Administration (USFDA). The drug regulator cited violation of current good manufacturing norms for taking the step against the company. The USFDA has refused admission to all drugs made at the companys Pithampur and Silvassa facility. All drugs, except API Chloroquine Phosphate, made at Ratlam (Madhya Pradesh) unit have also been denied entry in the US, it further said. The ban will continue until the company can demonstrate that the drugs manufactured from these manufacturing sites and intended for the US market are in compliance with the current good manufacturing practice regulation (cGMP).

Net profit of IPCA Laboratories rose 34.8% to Rs 44.39 on 6% rise in net sales to Rs 665.80 crore in Q4 March 2017 over Q4 March 2016.

IPCA Laboratories is a fully-integrated Indian pharmaceutical company manufacturing over 350 formulations and 80 Active Pharmaceutical Ingredients (APIs) for various therapeutic segments.

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L&T Finance Holdings shifts registered office
Jun 16,2017

L&T Finance Holdings has shifted its registered office from L&T House, N. M. Marg, Ballard Estate, Mumbai - 400001, Maharashtra, India to Brindavan, Plot No. 177, CST Road, Kalina, Santacruz (East), Mumbai - 400098, Maharashtra, India with effect from 15 June 2017.

New registered office address is -
Brindavan, Plot No. 177, CST Road, Kalina, Santacruz (East), Mumbai - 400098, Maharashtra, India
Phone Number (022)-62125000
Fax Number (022)-62125398
Email Id igrc@ltfinanceholdings.com Website www.ltfs.com

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Navin Fluorine International allots 28650 equity shares
Jun 16,2017

Navin Fluorine International has allotted 28650 ,equity shares of the face value of Rs. 10/- each to employees upon exercising Stock Options by them under the prevailing Employee Stock Option Scheme 2007 of the Company on 14 June 2017.

With this allotment, the paid-up capital of the Company has increased to Rs. 9,84,12,915 (98,39,836 equity shares of Rs. 10/- each fully paid up and 2911 partly paid equity shares of Rs. 10/- each, on which Rs. 5/- per share paid up).

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Infosys announces appointment of Global Heads
Jun 16,2017

Infosys the appointment of Karmesh Vaswani as the Global Head - Retail, CPG & Logistics (RCL) and Nitesh Banga as the Global Head of Manufacturing, effective 15 July 2017. Karmesh Vaswani and Nitesh Banga are both career Infoscions who have held strategic portfolios across the organization for nearly a decade. Karmesh & Nitesh are to replace Sandeep Dadlani, President and Head - MRCL, who will be leaving the company.

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Board of Burnpur Cement approves change in company secretary
Jun 16,2017

Burnpur Cement announced the appointment of Indrajeet Kumar Tiwary as a Company Secretary in place of Sudhansu Sekhar Panigrahi who resigned from the post of Company Secretary. The change was approved in the board meeting held on 14 June 2017.

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Shares of Star Cement get listed
Jun 16,2017

The equity shares of Star Cement (Scrip Code: 540575) are listed and admitted to dealings on the Exchange in the list of T Group Securities.

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TCS in focus after launching ignio for SAP operations
Jun 16,2017

TCS announced that it has launched ignio for SAP ERP to help customers run their operations in SAP more effectively. ignio is a cognitive automation solution for enterprise IT. ignio has also achieved certified integration with SAP ERP. The announcement was made after market hours yesterday, 15 June 2017.

Infosys announced the appointment of Karmesh Vaswani as the Global Head - Retail, CPG & Logistics (RCL) and Nitesh Banga as the Global Head of Manufacturing, effective 15 July 2017. Karmesh Vaswani and Nitesh Banga are both career Infoscions who have held strategic portfolios across the organization for nearly a decade. The announcement was made after market hours yesterday, 15 June 2017.

MphasiS issued clarification on news item titled Mphasis raises $500 million dollar bond sale that the said issuance has been undertaken by its parent company, Marble II Pte. Ltd., Singapore and not by the company. The proceeds will be utilized by Marble II Pte. Ltd., Singapore and not by the company, it added. The announcement was made after market hours yesterday, 15 June 2017.

Reliance Industries (RIL) and BP yesterday, 15 June 2017 announced that they are moving forward to develop already-discovered deepwater gas fields, bringing new gas production for India. The two companies have agreed to deepen and expand their partnership to work jointly across a wide range of areas throughout Indias energy sector. The announcement was made after market hours yesterday, 15 June 2017.

RIL and BP announced that they will award contracts to progress development of the R-Series deep water gas fields in Block KGD6 off the east coast of India. The project is expected to produce up to 12 million cubic metres (425 million cubic feet) of gas a day, coming on stream in 2020.

This is the first of three planned projects in Block KGD6 that are expected to be developed in an integrated manner, producing from about 3 trillion cubic feet of discovered gas resources.

Development of the three projects, with total investment of Rs 40000 crore ($6 billion), is expected to bring a total 30-35 million cubic metres (1 billion cubic feet) of gas a day new domestic gas production onstream, phased over 2020-2022.

ICICI Bank said that the committee of executive directors of the bank is scheduled to meet on 20 June 2017 to consider fund raising by way of issuance of senior unsecured long term bonds in the nature of debentures in single/multiple tranches on private placement basis. The announcement was made after market hours yesterday, 15 June 2017.

Pennar Industries said that the company and Pennar Engineered Building Systems intend to set up a 50:50 joint venture (JV) in United States of America to supply their goods and services. The announcement was made after market hours yesterday, 15 June 2017. The JV will help both the companies to increase their addressable market and contribute to an increase in revenue and profitability.

Deepak Fertilisers and Petrochemicals Corporation (DFPCL) said that the Department of Fertilisers (DoF), Ministry of Chemicals and Fertilisers, Government of India, has decided to release the pending Rs 310.52 crore fertiliser subsidy on a bank guarantee of equivalent amount. DoF had withheld the subsidy pending decision on recovery of alleged undue gain on account of supply of cheap gas. The announcement was made after market hours yesterday, 15 June 2017.

Canara Bank said it plans to raise up to Rs 6300 crore for business and regulatory requirements. The bank said the board of directors approved the proposal to raise equity capital up to Rs 3500 crore, inclusive of premium to be decided, by way of qualified institutional placement/rights issue/preferential allotment/follow-on public offer. The bank may raise fund by any other means as well, it said in a regulatory filing.

Additionally, Canara Bank will also raise Rs 1800 crore by issuing Basel III compliant additional Tier I bonds, it said. The board has also approved the plan to issue Basel III compliant Tier II bonds up to Rs 1000 crore. The bank would seek the approval of the shareholders for raising of equity capital in the ensuing AGM of the bank, it said. The announcement was made after market hours yesterday, 15 June 2017.

IPCA Laboratories said that drugs manufactured at its facilities at SEZ Indore (Pithampur), Piparia (Silvassa) and Ratlam (Madhya Pradesh) have been banned from the US market by the US Food and Drug Administration (USFDA). The drug regulator cited violation of current good manufacturing norms for taking the step against the company. The USFDA has refused admission to all drugs made at the companys Pithampur and Silvassa facility. All drugs, except API Chloroquine Phosphate, made at Ratlam (Madhya Pradesh) unit have also been denied entry in the US, it further said. The ban will continue until the company can demonstrate that the drugs manufactured from these manufacturing sites and intended for the US market are in compliance with the current good manufacturing practice regulation (cGMP). The announcement was made after market hours yesterday, 15 June 2017.

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Board of Axis Bank approves private placement of NCDs aggregating Rs 5000 cr
Jun 15,2017

The Board of Directors of Axis Bank have on 15 June 2017 approved the allotment of 50,000 Unsecured Redeemable Non-Convertible Subordinated Debentures, Basel- III Compliant Tier 2 Debentures (Series - 27) of the face value of Rs.10 lakh each for cash at par aggregating to Rs. 5,000 crore, on a private placement basis. The said Debentures will be listed on the Wholesale Debt Market segment of the BSE and National Stock Exchange of India.

The said Debentures are rated CRISIL AAA by CRISIL, ICRA AAA hyb by ICRA and IND AAA by India Ratings & Research (Ind-Ra).

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