Latest News
-
Missed Your Voter ID Card? Here Are 10 Alternate Documents You Can Use This Election Season! -
1:5 Split, 1:10 Bonus Share, Rs 8 Dividend: Top Bank Schedules Fundraise Meet, Buy For TP Rs 1125 -
95-Yrs Old Bank To Consider 21st Dividend, Buy For TP Rs 32.4/Share; 2-Yrs Return 265% -
Direct Tax Collections Surpass Budget By 1.35 Lakh Crore FY 2023-24 -
Sugar Stock Sweetens Post 1:10 Split: Small Cap Rallies 507% In 2-Yrs, Sub-Division Approved -
What Are Exchange-Traded Funds & Its Types? Here's A Comprehensive Guide On All Kinds Of ETFs! -
Higher Utility Bill Fees Loom For Yes Bank & IDFC First Bank Credit Card Holders; What Are The Changes? -
Axis Bank and Shoppers Stop Announce Co-Branded Credit Card; What Are The Fees, Benefits & Rewards? -
Axis Bank Revamps Credit Cards: Don't Miss Out On New Lounge Access, Rewards & Partnerships Rules -
What Are Debt Funds And How To Choose The Right Mutual Fund? A Comprehensive Guide For Investors
Trent Shares Hit Record High On Fund Raising Plan
Trent, which owns famous brand like Westside, in intra-day trade today jumped by over 2% to hit a new high of Rs. 448.60 per share on the BSE. The surge came after the company said it is seeking shareholders' nod for allotting as many as 24.65 million equity shares to Tata Sons.
Also, the company has approved raising up to Rs. 1,550 crore by issuing a mix of shares to its promoter on a preferential basis as well as other options. "Total amount to be raised from issuance of shares to the promoter is about Rs 950 crore, which the company plans to utilise to finance its expansion and reduce debt," Trent said.
Through the issuance, the stake of Tata Sons in Trent will increase to 33% from 28%. The company has been on a aggressive footing and planning growth initiatives across the Westside, Zudio and Star formats.
GoodReturns.in
