Uflex has offered a solution to the UK’s Veetee Rice packaging, which was grappling with four pain points. The packaging has been conceived and manufactured in India. Uflex has addressed Veetee Rice brand’s pain points by offering a three-dimensional pack with front openability through a slide to close zipper and addressed the slippage issue while stacking. Shares of Uflex slipped 2.72 per cent at ₹457.15 on the NSE.
Amol Jagdish Kapadia and Sushila Jagdish Kapadia, part of the promoter/promoter group of Polson Ltd , have offered to sell an aggregate of 8,194 (6.82 per cent) equity shares of face value ₹50 each. The offer-for-sale will take place on October 25 for retail investors and on October 26 (for retail investors and non-retail investors who choose to carry forward their bids), exclusively through the separate window provided by the BSE. The floor price for the OFS is fixed as ₹8,600 a share. The stake is being offloaded to meet SEBI’s minimum public shareholding norm. Shares of Polson closed at ₹13,600, down 2 per cent, on the BSE on Monday.
Praj Industries on Monday informed the exchanges that it has closed down its step-down subsidiary Praj Industries (Tanzania). Business reasons are responsible for the closure of the subsidiary, which is contributing negligible amounts to Praj Industries in terms of turnover and net worth, said the company in the notice. Shares of Praj Industries closed flat at ₹67 on the NSE.