RIL will be watched after Reliance Jio raises funds by issuing bonds

Reliance Industries (RIL) will be watched. Reliance Jio Infocomm (RJIL), a subsidiary of RIL, yesterday, 7 July 2016, issued Rs 2000 crore of 5 year Non-Convertible Debentures (NCDs), bearing a coupon of 8.32% per annum, payable annually. The issue has been assigned a rating of AAA by CRISIL and CRA. The proceeds of the issuance shall be utilized by RJIL for rolling out a digital services business in India. The announcement was made after market hours yesterday, 7 July 2016.n++

The transaction was fully subscribed within minutes of opening and was eventually over-subscribed with a total book size in excess of Rs 3500 crore, Reliance Jio said. Key investors include the prominent asset management companies and banks. Reliance Jio Infocomm is the first telecom operator to hold pan India Unified License. RJIL has created next-generation voice and broadband network which can be seamlessly upgraded even to 5G and beyond.

Bank of India said it raised Rs 1500 crore by issuing Basel-III compliant Tier II Bonds (Series-XII). The bonds have been rated as AA (+) by CRISIL and AA (+) by Brickwork and bear coupon rate of 8.57% per annum. The announcement was made after market hours yesterday, 7 July 2016.n++

Mahindra Holidays & Resorts said that its step-down subsidiary, Holiday Club Resorts Oy, Finland, has signed a joint venture (JV) agreement with City of Kuusamo for establishment of Tropiikin Rantasauna Oy. Holiday Club Resorts will hold 50% stake in Tropiikin. Shares worth 62500 euros will be acquired at the time of formation of Tropiikin, Mahindra Holidays & Resorts said. The announcement was made after market hours yesterday, 7 July 2016.n++

In a separate announcement after market hours yesterday, 7 July 2016, Mahindra Holidays & Resorts India said that Caribia Service Oy, Finland (Caribia), subsidiary of Holiday Club Resorts Oy, Finland, (HCR), a step-down subsidiary of the company, has been liquidated with effect from 4 July 2016. Consequently, Caribia ceased to be a subsidiary of HCR. In turn of the company and all the assets lying in its books were transferred to HCR being the sole shareholder of Caribia.

Sundaram Multi Pap said that its board has approved raising up to Rs 30 crore by issuing share warrants to the promoter and promoter group and by issuing fully paid up equity shares or issuing debentures by qualified institutional placements (QIP)/preferential issue. The announcement was made after market hours yesterday, 7 July 2016.n++

Indo Count Industriesn++announced that Indo Count Global, Inc, US announced a new licensing partnership with Walker Greenback PLC UK for three of its lifestyle brands viz. Sanderson, Harlequin and Scion. All three brands hava a particularly strong presence in UK and Australia and Indo Count said it recognized a gap in the North American market for this type of aesthetic. Indo Count said it will be launching new ranges for all three lifestyle brands this September during New York Home Textile Market Week. Indo Count added that it is targeting major retailers in the US market for all the three brands. The announcement was made after market hours yesterday, 7 July 2016.n++

Shares of Abbott India turn ex-dividend today, 8 July 2016, for final dividend of Rs 35 per share for the year ended 31 March 2016.

Shares of Cairn India turn ex-dividend today, 8 July 2016, for final dividend of Rs 3 per share for the year ended 31 March 2016.

Shares of Dewan Housing Finance Corporation turn ex-dividend today, 8 July 2016, for final dividend of Rs 2 per share for the year ended 31 March 2016.

Shares of MindTree turn ex-dividend today, 8 July 2016, for final dividend of Rs 3 per share for the year ended 31 March 2016.

Shares of Tata Coffee turn ex-dividend today, 8 July 2016, for dividend of Rs 1.30 per share for the year ended 31 March 2016.