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The board of directors of Gammon India on Tuesday approved the issue of 3.7 crore equity shares of face value ₹2 each at a price of ₹27.05 a share on preferential basis to the promoters and their affiliates against the contribution brought in by them as envisaged under the Corporate Debt Restructuring Scheme. The allotment will be subject to approval of the CDR lenders as well as the shareholders.
Shriram City Union Finance has informed the exchanges that the Securities Management (empowered committee of the board of directors) of the company on Tuesday allotted 65.8 lakh shares (of ₹10 each) to Piramal Enterprises for cash at a price of ₹1,200 an equity share. Shriram City Union shares closed at ₹1,430 on the NSE, down 2.5 per cent while Piramal Enterprises gained 0.4 per cent at ₹700.
The board of directors of Autoline Industries has taken note of the acquisition of further land by Autoline Industrial Parks Ltd, its subsidiary, which has taken steps according to the latest requirement of the Urban Development Department, Maharashtra. The Location Clearance for the land (100 acres under the Special Township Project) located at Mahalunge, Pune, is expected to be received shortly. With regard to the disposal of assets/ disinvestment of stocks/ shares of the company’s wholly owned subsidiary – Autoline lndustries Inc, US, the company has not received any suitable offer till date.
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