Overview
- Coforge agreed to acquire Encora via a share-swap with no cash outflow, issuing about 9.38 crore new shares at Rs 1,815.91 each, with NDTV reporting a deal value of Rs 17,032 crore.
- News18 cited a differing figure for the Encora transaction, reporting an enterprise value of $2.35 billion, highlighting variance in deal valuation metrics reported by outlets.
- Punjab National Bank reported a borrowal fraud of roughly Rs 2,434 crore tied to former SREI promoters and said it has made 100% provisioning, including Rs 1,240.94 crore for SREI Equipment Finance and Rs 1,193.06 crore for SREI Infrastructure Finance.
- Bank of India said its board allotted long-term bonds totalling Rs 10,000 crore, including a Rs 5,000 crore greenshoe option, to bolster funding.
- Tata Steel disclosed a tax demand of Rs 1,781 crore, including penalty, from the Jamshedpur authority, while Vodafone Idea outlined a 2026 network expansion push with increased 5G focus alongside ongoing 4G investment.