Welcome to StockBox Daily News Update podcast for 16th May 2018. Important corporate announcements published on 16th May 2018.
Order Book - IRB INFRASTRUCTURE DEVELOPERS Limited IRB PS Highway Private Limited & IRB PP Project Private Limited - Wholly-owned Subsidiaries of the Company have now executed Concession Agreement with National Highways Authority of India (NHAI) for 2 Hybrid Annuity Projects under NHDP Phase IV in the state of Tamil Nadu for total project cost of Rupees 2822.52 crores
Fund Raising - DLF Limited to raise funds through NCDs and/or other debt instrument
Acquisition - Vivimed Labs Limited announces acquisition of SONEAS by Group´s API business, UQUIFA
SONEAS broadens UQUIFA´s offering in the CDMO sector with New Development capabilities and, an enhanced Project Pipeline. The business has been acquired from Lochlomond and Euroventures which are both based out of Hungary. SONEAS has for the year 2017, reported revenues of €12.2 million.
Plungers - Today Reliance Communications plunged more than 18% as they along with two subsidiaries Reliance Telecom Limited and Reliance Infratel Limited, await the detailed orders of the Hon’ble National Company Law Tribunal (NCLT), Mumbai, allowing the Ericsson application for admitting the companies to debt resolution under IBC. The Companies will decide the next course of action after studying the orders.
Business Association - AIA ENGINEERING Limited has also approved the Technical Collaboration Agreement entered with EE Mill Solutions LLP, USA (EEMS). EEMS has special knowledge of optimizing energy efficiency & output of grinding equipment like AG/ SAG/ Ball mills in wet and dry grinding industries through re-designing of mill internals viz. Head & shell liners, grate liners, pulp lifters. The Company proposes to set up a dedicated plant for manufacturing the above products at an estimated capital outlay of rupees 250.00 Crores.
Divestiture - NIIT Limited - NIIT China (Shanghai) Limited, a step down subsidiary has entered into an agreement to sell its entire 60% shareholding in its Wuxi NIIT Information Technology Consulting Limited with net worth of INR 45.15 million (2.38% of the Company's consolidated net worth).
Acquisition - Crest Ventures Limited has entered into a Share Purchase Agreement (SPA) on May 15, 2018 for acquiring a stake of 48% held by Prebon Holdings BV in Tullett Prebon (India) Limited, its Subsidiary Company at a total consideration of Rs. 4.52 Crores subject to the regulatory approvals. Subsequent to the above acquisition, the equity holding of CVL will increase from 51.99% to 99.99%.
Bonus Issue - JYOTHY LABORATORIES Limited recommended bonus issue in the ratio of 1:1
Fund Raising - MUTHOOT FINANCE LIMITED has decided to raise funds up to an amount of Rs. 6,000 Crores by way of Public Issue(s) of Redeemable Non-Convertible Debentures to be issued in one or more tranches.
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