Stocks in Focus on September 23: Paras Defence IPO, Bharti Airtel, ZEEL, Aurobindo Pharma to Infosys; here are 5 Newsmakers of the Day

The Sensex at the Bombay Stock Exchange declined 78 points, or 0.13%, to close at 58,927, in a range-bound trade on Wednesday, September 22, 2021. The Nifty at the National Stock Exchange lost just 15 points, or 0.09%, to end at 17,547. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Thursday, September 23, 2021. List of such five stocks:

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Paras Defence IPO: The Rs 170 crore initial public offering (IPO) of Paras Defence and Space Technologies Limited was subscribed 40.57 times on Wednesday, the second day of bidding. The QIB portion was subscribed 1.67 times, while Non-Institutional Investors (NII) and Retail portions were subscribed 26.32 times and 68.57 times, respectively. Today is the last day for bidding for the public issue. The price band for the issue has been fixed at Rs 165-175 per share. The issue comprises a fresh issue of Rs 140.6 crore by the company and an offer for sale of up to 17,24,490 equity shares worth Rs 30 crore by existing shareholders including Paras Defence promoters. Retail investors can subscribe to the IPO by placing bids in the lot of 85 equity shares and multiples of 85 thereafter. 

Bharti Airtel: The Board of Directors of the telecom major has approved the rights issue of 39.22 crore shares at Rs 535 per rights equity share for an amount aggregating up to Rs 20,987.39 crore. The rights issue of Bharti Airtel will open on October 5, 2021, and close on October 21, 2021. The company also noted that the 'Record Date', to determine the shareholders who shall be eligible to receive the rights entitlement in the issue, is September 28, 2021. 

Zee Entertainment: Punit Goenka at the conference call of Zee Entertainment said the decision of merger was taken after months of negotiations. It is subject to due diligence and the necessary documentation needs to take place but beyond that, I don’t see any risk to that transaction. Competition Commission of India (CCI) norms defers for different sectors and in this scenario, I think that it should be at a national level evaluation. No open offer is required in the merger scheme. The share swap ratio will be decided after due diligence. We will continue to make good earnings for the shareholders. We will bring synergy between advertising and subscriptions. The merger process is likely to be completed in the next six to eight months. The deal will require the approval of 3/4th shareholders. Majority shareholders approval will be required on the non-compete agreement. After the merger, the focus on sports will increase.

Aurobindo Pharma + Jubilant Ingrevia 

Aurobindo Pharma: Aurobindo Pharma Limited has announced that its subsidiary CuraTeQ Biologics Pvt Ltd. (CuraTeQ) has submitted Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) for BP14, an oncology biosimilar product.

Jubilant Ingrevia ltd: Jubilant Life Sciences International Pte. Limited, Singapore, a wholly-owned subsidiary of the Company has divested its entire 10% stake, consisting of 5,40,463 shares, held in Safe Foods Corporation for a consideration of US $ 18.2 Million (approx. Rs 134.2 crore) pursuant to the approval of the plan of merger between Safe Food and Packers Sanitation Services Inc Limited.

Infosys: Infosys has announced a strategic collaboration with Amazon Web Services (AWS) to develop quantum computing capabilities and use cases. Infosys will use Amazon Braket to explore and build multiple use cases in quantum computing as part of Infosys Cobalt cloud offerings.