Kravis Investment Partners II LLC on Thursday offloaded shares of e-commerce beauty company Nykaa for a little over ₹629 crore through open market transactions. 3.67 crore shares of FSN E-Commerce Ventures, which runs Nykaa, were sold by Kravis Investment Partners II LLC in five tranches at a price of ₹171 apiece, as per data from the BSE. The total value of the transaction aggregated to ₹629.06 crore.
Gammon India on Thursday said that its board has approved the extension of the tenure of the company’s Chief Executive Officer (CEO) Ajit Balubhai Desai till March 31 next year. Prior to the board’s approval, Desai’s term as CEO was to end on December 16.
Hindustan Petroleum Corporation Ltd (HPCL) will raise ₹10,000 crore in debt from domestic or overseas market to fund its oil refining and fuel marketing operations, the company said on Thursday. In a stock exchange filing, HPCL said the borrowing was within the overall borrowing powers of the company.
Deepak Fertilisers and Petrochemicals Corporation (DFPCL) on Thursday announced a corporate restructuring plan under which it will demerge its mining chemicals and fertilisers businesses. The board of Smartchem Technologies (STL), a wholly owned subsidiary of DFPCL, has approved a corporate restructuring plan that will help unlock the growth potential of each of the businesses, the company said in a statement. It approved the demerger of the TAN business (mining chemicals) from STL to DMSPL, a wholly owned subsidiary of DFPCL, and the amalgamation of Mahadhan Farm Technologies (MFTPL), a wholly owned subsidiary of STL, with STL.
Kesoram Industries, the B K Birla group company, on Thursday, said it has raised ₹90 crore by allotting ninety lakh non-convertible preference shares to a promoter shareholder. The fund will help ease the liquidity condition of the cement maker, a company official said.