Adani group promoters may sell up to 3 per cent of their shares in Ambuja Cements as part of a regular adjustment of holdings they carry to keep stake across the ports-to-energy conglomerate at desired levels, a PTI report quoting sources said. Promoters will sell about 7 crore shares, or 2.84 per cent, in the cement maker for ₹4,198 crore, the report said adding that the offer price of ₹600 apiece is at a 5 per cent discount to Thursday’s closing price of ₹632.90 on BSE.
Zomato has decided to immediately shut down its intercity ‘Legends’ services, CEO Deepinder Goyal announced on Thursday. In a post on microblogging platform X, he said, “Update on Zomato Legends – after two years of trying, not finding product market fit, we have decided to shut down the service with immediate effect,” Goyal announced.
Market buzz has it that Harindarpal Singh Banga, a pre-IPO investor in FSN E-Commerce Ventures (Nykaa), is planning to sell up to a 1.4 per cent stake through secondary market. The expected floor price is Rs 198 per share. As of the end of the June quarter, Harindarpal Singh held a 6.4 per cent stake in Nykaa.
Adani Power has informed the exchanges that the NCLT Hyderabad bench has approved its plan to acquire Lanco Amarkantak Power Ltd (LAPL) for an upfront payment of Rs 4,101 crore. LAPL is undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, a BSE filing said.
Rizing Management LLC, a step-down subsidiary of Wipro, has been voluntarily liquidated, effective August 21. Meanwhile, John Lewis Partnership (JLP) has chosen Wipro to transform and modernise its IT infrastructure.
Bharti Airtel informed the exchanges that following its appeal to the Commissioner (Appeals), Central Goods and Services Tax Appellate Authority, Delhi, the Appellate Authority has issued an order reducing the GST demand to Rs 194 crore from Rs 604.66 crore.
Jain Irrigation has signed a Memorandum of Understanding (MoU) to facilitate the commercial release of advanced high-quality, disease-resistant coffee plants to growers.
Bharat Forge has announced a strategic investment in Kalyani Powertrain Ltd (KPTL), its wholly-owned subsidiary, which focuses on electric vehicle and e-mobility solutions. The investment involves the subscription to 10,545,000 equity shares of KPTL at a face value of Rs 10 each, amounting to up to Rs 105 crore.
RailTel Corp has received a work order valued at Rs 52.66 crore from the Uttar Pradesh Police Recruitment and Promotion Board.
SBI Life Insurance informed the exchanges that the Deputy Excise and Taxation Commissioner of Rohtak, Haryana, Department of Goods and Services Tax, has issued a demand for GST, including applicable interest and penalties, totaling Rs 239.27 crore for SBI Life for the fiscal year 2020.
Private equity major ChrysCapital on Thursday exited Eris Lifesciences by selling its entire 7.27 per cent stake (98.87 lakh shares at ₹1,201 each), in the company for ₹1,187 crore via open market transaction, while Infinity Partners picked up shares of the firm.
