Welcome to StockBox Daily News Update podcast for 19th May 2018. Important corporate announcements published on 19th May 2018.
1. Fund Raising - AU Small Finance Bank Limited raised Rupees from Camas Investments Pte Limited, an indirect wholly owned subsidiary of Temasek Holdings (Private) Limited through issue of equity shares & convertible warrants.
2. Fund Raising - KOTAK MAHINDRA BANK Limited accorded its approval for raising of funds by way of non-convertible debentures / bonds for an amount not exceeding Rupees 5,000 crores and by way of non-convertible preference shares for an amount not exceeding Rupees 500 crores etc.
3. M&A - Bhageria Industries Limited has allotted 59,42,530 equity shares of face value rupees 5/- each, fully paid-up to the equity shareholders of Nipur Chemicals Limited as per the share exchange ratio in terms of the scheme as mentioned hereunder: 11 (eleven) equity shares of BIL of rupees 5/- each fully paid-up for every 10 (ten) equity shares of NCL of Rupees 10/- each fully paid-up.
4. Capital Expansion - Skipper Limited has approved a capex plan for capacity expansion of its engineering products division.
5. Business Update - Hindustan Construction Company Limited Prime Minister inaugurated the strategically important Kishanganga Hydro Electric Power project constructed by the company.
6. Regulatory Action - South Indian Bank Limited - RBI imposed a monetary penalty of Rupees 50 million on the bank for non-compliance with the directions issued by RBI on Income Recognition and Asset Classification (IRAC) norms, Know Your Customer (KYC) norms and treasury function and for deficiencies in compliance function and compliance culture.
7. Acquisition - Thermax Limited has approved to enter into a preliminary understanding with Babcock & Wilcox India Holdings Inc. (B&W) to acquire the shareholding of the latter in the JV, Thermax Babcock & Wilcox Energy Solutions Private Limited (TBWES).
8. Acquisition - Precision Camshafts Limited acquired 51% Equity Shares of EMOSS Mobile Systems B.V., Netherlands through PCL (International) Holding B.V., Netherlands, a Wholly Owned Subsidiary of company. This transaction is funded by loan from Bank of Baroda, London & through internal accruals.
9. Credit Rating - Punjab National Bank - India Rating has downgraded rating of a few bonds.
10. Bonus Issue – Tata Consultancy Services Limited announced record date for bonus issue as 2nd June 2018.
11. Restructuring – ITI Limited has considered and approved the conversion of Rupees 137 Crores, being Capital grant received from Government of India under BIFR proceedings, in to 137000000 equity shares of Rupees 10 each at par and allotted shares accordingly to President of India. The said receipt of Capital grant of Rupees 137 Crores and allotment of equity shares is made pursuant to BIFR order dated 08.01.2013, sanctioning the revival scheme.
12. Guruinvestars – Ganesha Ecosphere Limited – Mcap India Fund Limited held 13.63% as on 31st March 2018
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