LIC board approves 1:1 bonus issue
State-owned insurance giant Life Insurance Corporation of India (LIC) on Monday approved a 1:1 bonus issue. The decision was taken at a board meeting on Monday. Under the approved proposal, shareholders will receive one fully paid-up equity share of ₹10 each for every existing equity share held as on the yet-to-be-announced record date. The move is subject to shareholder approval. Shares of LIC closed 0.71 per cent higher on the BSE at ₹804.25.
Citius TransNet Investment Trust launches ₹1,105 cr IPO
Citius TransNet Investment Trust (Invit) has launched a ₹1,105 crore IPO at a price band of ₹99-100 per unit. The share sale opens on April 17 and close on April 21. Citius has earmarked ₹1,000 crore for acquisition or redemption of road assets held through special purpose vehicles, including SRPL Roads and select expressway projects. The Invit has a pipeline of 11 hybrid annuity model projects under a right-of-first-offer agreement, which could expand its portfolio to over 5,700 lane-km across 12 states.
NSE gets MCA nod to reserve coal exchange name
The National Stock Exchange of India (NSE) on Monday said it has received approval from the Ministry of Corporate Affairs to reserve the name ‘National Coal Exchange of India.’ The approval is limited to name reservation and does not grant any operational or regulatory clearance, it said. In February, the NSE’s board had approved the setting up of a wholly owned subsidiary for the initiative.