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The company has recently canceled its DVR (Differential Voting Rights) shares and is replacing them with ordinary shares. According to the new scheme, shareholders will receive 7 ordinary shares for every 10 DVR shares they previously held. Axis Trustee Services, acting as an Independent Trustee, will now manage the distribution of the sale proceeds.
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The non-institutional investors (NIIs) subscribed to the issue 8.23 times while the quota reserved for qualified institutional buyers (QIBs) was booked at just 3%. In all, 2.5 lakh share bids were received from QIBs around this time against 58,98,528 shares available for booking.
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Investec predicts that using advanced tech in ideal locations will boost energy production significantly. Combined with a greater focus on selling directly to customers, this should result in a 60% annual profit growth over the next six years.
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News and Media
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