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By K. S. Badri Narayanan
The Centre has kicked off the process for strategic disinvestment of IDBI Bank with the transfer of management control, by issuing a preliminary information memorandum to invite expressions of interest from prospective buyers. The Government will sell 30.48 per cent of its stake in the bank, and Life Insurance Corporation of India (LIC) will 30.24 per cent, aggregating to 60.72 per cent of IDBI Bank’s share capital, along with transfer of management control in the lender.
The Board of Atul Auto Limited has approved proposal to issue up to 58,08,080 Fully Convertible Warrant (within a maximum period of 18 months), each convertible, at Rs 198 each, aggregating up to Rs 115 crore to Vijay Kishanlal Kedia – Non-promoter – 50,50,505 warrants; Khushbu Auto Private Limited – Promoter – 6,56,565 warrants; and Jayantibhai Jagjivanbhai Chandra – Promoter – 1,01,010 warrants, on preferential issue basis, subject to approval of shareholders
The prices of CNG and cooking gas piped to household kitchens in the national capital on Saturday hiked by Rs 3 each in step with rise in input natural gas prices. The Rs 3 per kg increase in CNG price is the first hike in rates in over four months, while a Rs 3 per standard cubic metres increase in piped natural gas (PNG) was the first raise in two months. Focus will be on Indraprastha Gas, Mahanagar Gas, Petronet LNG, GSPL and Gujarat Gas.
Ambuja CementsLtd on Saturday said it has received shareholders' approval for all proposals in its EGM, including a resolution to raise Rs 20,000 crore from an Adani group firm and appointment of Gautam Adani and others on the board of the company.
State Bank of India (SBI) has lined up various non-performing assets up for sale this month and the next, including the fraud account of Sintex BAPL, to recover over Rs 746 crore. In an auction scheduled for November 4, SBI will put up NPAs for sale to asset reconstruction companies (ARCs)/ financial institutions (FIs), banks or Non-Banking Financial Companies (NBFCs).
The board of Suzlon Ltd has given approval for appointment of Vinod R Tanti as the Chairman & Managing Director of the company with immediate effect for a period of three years up to October 6, 2025. The board also appointed Girish R Tanti, an executive director, as the Executive Vice Chairman.
The board of Veranda Learning Solutions Limited is scheduled to be held on October 12 to consider potential acquisition.
RattanIndia Enterprises Limited has announced that it is acquiring 100 per cent shareholding in the electric motorcycles market leader Revolt Motors. The Company had earlier acquired 33.84 per cent shareholding in Revolt with an option to further increase the shareholding.
Nureca Technology Pvt Limited, a Wholly owned subsidiary of Nureca Limited, has obtained certification from notified body Intertek, for Nebulizers and Blood pressure monitors.
JSW Steel Coated Products Limited, a wholly owned subsidiary of JSW Steel, submitted a resolution plan in the corporate insolvency resolution process of National Steel and Agro Industries Limited on September 6, 2022, as amended on October 6. The resolution professional, has issued a letter of intent to JSCPL on October 7, 2022 informing that the committee of creditors of the Corporate Debtor has approved the resolution plan submitted by JSCPL and has declared JSCPL as the successful resolution applicant.
The Board of Nikhil Adhesives Limited has announced the capacity expansion for new product named as RDP (Re-dispersible Polymer Powder). The commencement of the Product will be carried out at Dahej Plant of the company.
The board of Universus Photo Imagings Ltd will be held on October 12, to consider declaration of One-time Special Interim Dividend for financial year 2022-23.
Dhabriya Polywood Ltd has commenced manufacturing of uPVC Doors & Windows at its new factory situated at Dodballapur Industrial Area, Bengaluru. With this new unit, company will focus on increasing its market share in southern regions.
PowerGrid Bhind Guna Transmission Limited (a wholly owned Subsidiary of Power Grid Corporation of India Ltd, secured through Tariff Based Competitive Bidding) with a mandate to establish transmission system for Intra-State Transmission Work associated with construction of 400kV Substation near Guna (Madhya Pradesh) & 220kV Substation near Bhind (Madhya Pradesh) on Build, Own, Operate and Maintain (BOOM) basis has successfully commissioned the project on October 6.
Artson Engineering Limited has received purchase order for ₹42.76 crore excluding taxes from Kutch Copper Limited (100% subsidiary Adani Enterprises Limited). The order is for Manufacture & Supply of 10 Nos. Gas to Gas Heat Exchangers.
The board of Navkar Corporation has approved the transfer of its title, rights, interest and ownership of Movable Assets i.e., 615 Trailers and 90 Dwarf Containers for a total consideration amount of ₹173.97 crore to Adani Logistics Limited.
Results Calendar: Excel Realty N Infra Ltd, Industries, International Travel Houe, JTL Infra, Sharanam Infraproject and Trading Ltd and TCS
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