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Vodafone Idea's board will meet on December 9, 2024, to consider a proposal to raise up to Rs 2,000 crore through the issuance of equity shares and/or convertible securities to entities within the Vodafone Group. Currently, the Vodafone Group holds a 22.56% stake in the company, while the Aditya Birla Group and the government hold 14.76% and 23.15%, respectively. The company plans to use the proceeds to settle debt and issue new equity shares following the board's decision.
Aditya Birla Sun Life Mutual Fund has launched a thematic fund focused on investing in leading Indian conglomerates. The New Fund Offer (NFO) will be open from December 5 to December 19, 2024. This marks the first active fund in India to adopt such a strategy, leveraging the resilience of large groups through various market cycles.
UltraTech Cement plans to raise up to Rs 3,000 crore through the private placement of non-convertible debentures to enhance its financial flexibility amid rising competition. The Aditya Birla Group company aims to issue rupee-denominated, unsecured, redeemable, and listed NCDs. Over the past year, UltraTech's share price has increased by over 22%, boosting its market capitalization to nearly Rs 3.1 lakh crore, outperforming the NSE Nifty 50 index.
The Aditya Birla Group, led by Kumar Mangalam Birla, is poised to benefit from Donald Trump's "America First" policies, particularly through its US-based aluminium business, Novelis. Following a $6 billion acquisition in 2007, the group is exploring further investments, including a $4.1 billion recycling and rolling plant in Alabama, reflecting its confidence in the US market despite potential trade barriers. Novelis is a key supplier of flat-rolled aluminium, serving various industries from food packaging to automotive.
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