China’s Antfin Singapore Pte will be selling 13.6 crore shares or over 1.5 per cent stake in portfolio firm Zomato in a block deal, according to a term sheet. The floor price for the deal is fixed at Rs. 251.68 a share for an aggregating value of $408 million. The floor price is at a 4 per cent discount to the closing price of the stock on the NSE on Monday. Earlier, Antfin had sold 2.1 per cent in the food delivery platform in March this year in a deal worth $341.5 million, reducing its stake to under 5 per cent
Bajaj Auto Ltd has said it will need to increase its provision for deferred tax by Rs 211 crore due to the withdrawal of indexation benefit and change in the tax rate on long-term capital gains on debt mutual fund. The company invests its surplus funds into a range of asset classes, including debt mutual funds. It was making accounting provisions for deferred tax as per applicable law on fair value gains on these investments, Bajaj Auto said in a regulatory filing.The Reserve Bank of India has approved IndusInd Bank to set up a wholly owned subsidiary for asset management business of mutual funds, the lender said in an exchange notice.
Torrent power has moved the appellate tribunal NCLAT against the approval of Sarda Energy and Mining’s resolution plan for the debt-ridden SKS Power Generation. Earlier on August 13, the Mumbai-based bench of the National Company Law Tribunal (NCLT), while approving Sarda Energy and Mining’s (SEML) bid, had rejected applications, including of Torrent Power, to acquire SKS Power Generation (Chhattisgarh).
The board of Motilal Oswal Financial Services has approved a proposal for issuance of NCD of up to ₹200 crore on private placement basis.
Olectra Greentech Ltd and EVEY Trans Private Ltd have acquired 5,01,717 and 5,00,00,000 additional equity shares of ₹10 each in “EVEY Trans (MSR) Private Ltd”, which will specifically act as a Special Purpose Vehicle for executing the Contract with MSRTC. Consequent to the further allotment, the company’s stake in EVEY Trans (MSR) has come down to 1 perc ent against initial 34 per cent stake.
The board of Hi-Tech Company has approved raising ₹600 crore by the company through issue of equity shares or any other equity linked instruments or securities, including convertible preference shares/ fully or partly convertible debentures or by way of a composite issue of non-convertible debentures and warrants via private placement or through one or more qualified institutions placements.
Sequent Scientific Ltd has announced receipt of prequalification (PQ) approval from the World Health Organization (WHO) for Albendazole, Active Pharmaceutical Ingredient (API). This is in partnership with Mepro Pharmaceuticals Private Limited, who have successfully developed and commercialised the Albendazole Chewable formulation from its WHO PQ approved plant, using our API. Mepro’s Chewable formulation is the first global approval of its kind by the WHO PQ.
Vishnu Chemicals, a manufacturer of high-performance specialty chemicals with strong market leadership and an intelligent symphony of forward and backward integration to produce world-class chemicals that are focused on diverse needs and aspirations of its customers, today announced the 100 percent equity acquisition of Jayansree Pharma Private Limited (JPPL) at en enterprise value of ₹51.99 crore.
Promoters of Prudent Corporate Advisory Services on Monday sold a 2.47 per cent stake in the financial services company for Rs 251 crore through open market transactions, while Societe Generale picked up the stake. According to the bulk deal data available with the National Stock Exchange (NSE), Rameshchandra Chimanlal Shah and Sanjay Rameshchandra Shah, two of the Prudent Corporate promoters sold 10.24 lakh shares in the price range of Rs 2,450.05-2,450 apiece.
Power Grid Corporation of India has acquired a project special purpose vehicle (SPV) Rajasthan IV E Power Transmission Ltd for an aggregate value of about Rs 18.54 crore. The project comprises the establishment of a new 765 kV sub-station at Rishabhdeo in Rajasthan, 765 kV D/C transmission lines and associated bays extension works at other existing substations in Rajasthan and Madhya Pradesh.
Poly Medicure has fixed the floor price at Rs 1,880.69 per share for its qualified institutional placement issue that opened on Monday.
The Board of Directors of Nucleus Software Exports will meet on August 22 to consider a proposal for the buyback of equity shares
Rengarajan Gopalakrishnan has resigned as Chief Financial Officer of MRO-TEK Realty due to health concerns, effective August 19.The board of Share India Securities has rescinded its earlier approval for the investment by way of acquisition of equity shares of DSM Fresh Foods Limited, in light of the negative feedback received from the company’s investors and stakeholders.
BSE has returned the demerger application of The Investment Trust of India stating to resubmit the revised application with fresh processing fees after obtaining the necessary in-principle approvals from the relevant SEBI departments. Investment Trust of India had applied for the scheme of demerger of its ‘Non-lending Business Undertaking’ into Distress Asset Specialist Ltd, a wholly owned subsidiary company, on June 25, 2022.
Hazoor Multi Tech Projects has emerged as Lowest Bidder for the Project of Maharashtra State Infrastructure Development Corporation (MSIDC). The quoted bid price of the project was ₹273.74 crores plus GST and the has to be executed within 2.5 years.
The board of HCL Technologies has appointed Shiv Walia as the Chief Financial Officer with effect from the close of business on September 6. Consequently, Shiv Walia would also be the Key Managerial Personnel of the Company. Prateek Aggarwal, Chief Financial Officer, has resigned from the services of the company to pursue opportunities outside HCLTech.
Finkurve Financial Services Limited has entered into a Co-Lending arrangement with RBL Bank Limited under normal course of business. This collaboration establishes a significant strategic partnership aimed for offering Gold Loan for a superior customer experience using Digital Lending Platform
