The National Company Law Tribunal (NCLT) has allowed Zee Entertainment Enterprises Limited to withdraw its application that sought direction to Sony Group Corp-owned Culver Max Entertainment and Bangla Entertainment to execute their composite scheme of arrangement. In January 22 Sony had called off a $10-billion merger of its India unit with ZEEL, following two years of intense negotiations and a stalemate over who will lead the merged entity.

Sanghi Cement promoter Ambuja Cements and erstwhile promoter Ravi Sanghi will sell up to 3.52 percent stake in the company through an offer for sale in next two days. Floor price for the OFS has been fixed at Rs 90 per share, which implies a nearly 12 per cent discount on Sanghi Industries’ current market price of Rs 102, said the company in statement on stock exchange. The OFS will be open for non-retail investors on June 26 and retail investors on June 27, it said.

Market buzz has it that Rakesh Kumar Verma, promoter of CE Info Systems, the parent firm of MapMyIndia, is likely to sell 0.9 per cent stake through a block deal for ₹114.6 crore. The floor price has been set at ₹2,293.20 a share.

The Competition Commission of India (CCI) has approved combination proposal involving acquisition of majority shareholding of Cigniti Technologies by Coforge (Coforge). In May, the Board of Coforge had approved the acquisition of 54 per cent equity stake in Cigniti Technologies at ₹ 1,415 a share. Coforge had also announced that it expects the acquisition process to be completed July-September 2024. 

Alkem Laboratories promoter Seema Singh on Tuesday sold shares of the company for Rs 177 crore through an open market transaction. According to the block deal data available with the National Stock Exchange (NSE), Seema Singh offloaded 3,58,695 shares, amounting to a 0.3 per cent stake in Mumbai-based Alkem Laboratories. The shares were disposed of at an average price of Rs 4,956 apiece, taking the deal size to Rs 177.77 crore. As of March 2024 shareholding pattern on the BSE, Seema Singh held a 2.46 per cent stake in Alkem.

Tech Mahindra has announced the merger of its step-down arm Healthnxt with its wholly-owned subsidiary Tech Mahindra (Americas). The merger shall be effective from July 1, 2024, according to a regulatory filing. “Both the Transferor and Transferee companies are wholly-owned subsidiaries and hence there will be no cash consideration or issue of new shares involved under the Plan of Merger. The investment of TMA in Healthnxt will get cancelled on the merger becoming effective,” the filing said.

Mindspace Business Parks REIT has raised ₹650 crore from International Finance Corporation through issue of sustainability linked bonds. The company will use the fund mainly to refinance existing loans. In a regulatory filing on Tuesday, Mindspace REIT announced its Rs 650 crore sustainability linked bond issuance that has been placed with International Finance Corporation (IFC), the private sector arm of the World Bank Group.

UltraTech Cement Middle East Investments Limited, wholly owned subsidiary of UltraTech Cement, in UAE making a partial cash offer for acquiring 158,049,610 shares, representing 31.6 per cent of the share capital of ‘Ras Al Khaimah Co. for White Cement and Construction Materials PSC’ . This offer was revised to 125,039,250 shares of RAKWCT representing 25 per cent of the share capital of RAKWCT. The Offer period ran for 28 days from May 28 to June 24 .

Mahindra & Mahindra Financial Services has announced that Vivek Karve, Chief Financial Officer has tendered his resignation from the services of the Company to pursue personal, social and professional interests beyond a full-time employment.

State-owned Punjab & Sind Bank has signed an initial agreement with the Indian Army on defence salary package which will come with a host of facilities, including free insurance cover. A memorandum of understanding (MoU) has been signed to this effect.

NTPC on Tuesday said its board on June 29 will consider a proposal to raise up to Rs 12,000 crore through the issuance of bonds.

Vishnu Prakash R Punglia Limited, has announced receipt of Letter of Acceptance from the Office of Superintending Engineer, UP Jal Nigam. The tender, evaluated and accepted by the competent authority, having a total value of ₹273.11 crore.

Time Technoplast has received an additional order for supply of Composite Cylinders (LPG) for total value of ₹55 crore (appx). This additional demand is on account of the positive response from the end user on account of numerous advantages of using composite cylinders like explosion proof, light weight, translucent body etc.

Gulshan Polyols has successfully achieved another milestone by starting commercial operations of Ethanol at our 250 KLPD Capacity Grain based Ethanol Plant at Goalpara, Assam.

The board of Inventure Growth & Securities has approved ₹48.93 crore right Issue. The company will offer 21 crore shares of ₹1each at ₹2.33 a share. Right entitlement ratio is 1:4 (one share for every four held by the eligible shareholders) as on July 5 . Full amount has to be paid on the day of application.

Vijay Nehra has resigned as the Chief Operating Officer (COO) of the RattanIndia Enterprises from June 24.