Ruchira Papers on Friday said its board has approved the preferential issue of 18.3 lakh warrants to promoters of the company. The number of warrants issued will be convertible to an equivalent number of equity shares of ₹10 face value, said the company in a filing to the exchanges. The board of the company has also constituted an allotment committee, it said. Shares of Ruchira Papers closed at ₹141, up 2.65 per cent on the NSE.
Shoppers Stop has entered into a pact with Riversand for data management solutions. Riversand’s mobile device management centre will help strengthen the company’s omni-channel presence by gathering data and digital content from its vendors through a standardised process. It will also help the company consolidate, view, manage and govern its loyalty customer data across business formats such as Shoppers Stop, Crossword and HyperCITY. Shares of Shoppers Stop ended 1 per cent lower at ₹319.65 on the NSE.
Shareholders of Grasim Industries, at an extraordinary general meeting held on Friday, approved increasing the investment limit of registered foreign portfolio investors, including foreign institutional investors, to 49 per cent from 30 per cent as on February 3. The shareholding pattern as on December 2016 revealed that 206 FPIs held 24.38 per cent stake in the company. Shares of Grasim Industries were up 2.6 per cent at ₹1,021 on the NSE.