The board of Motilal Oswal Financial Services has approved buyback of 14.54 lakh fully paid-up equity shares at ₹1,100 a share. The company said the buyback would be through the tender offer route. The members of the promoter and promoter group of the company have indicated their intention to participate in the proposed buyback. The company has fixed May 27, as the record date to identify eligible shareholders to participate in the buyback.
TVS Motor Company Ltd has signed a share purchase agreement on May 16 with Karan Makhija, Shunmuga Krishnan, Sidharth Middela, Fabric IOT Private Limited and Intellicar Telematics Private Limited, a wholly owned subsidiary of TVS Motor, to divest the entire shareholding (100 per cent) of TVS Motor in Intellicar to Fabric IOT. Post the transaction, Intellicar and its wholly owned subsidiary, Intellicar Singapore Pte. Ltd., will cease to be subsidiaries of TVS Motor.
The board of Udaipur Cements Works Ltd has approved the fund raising through Term Loans/NCDs on private placement basis, up to an amount of ₹1,100 crore for part financing the company's expansion project and approved, issue of equity shares by way of a rights issue to its existing shareholders for an amount not exceeding ₹450 crore.
Ashoka Baswantpur Singnodi Road Private Limited, a wholly owned subsidiary of Ashoka Buildcon Limited has executed a Concession Agreement with National Highways Authority of India on May 17 for development of a six-lane access controlled greenfield highways Baswantpur to Singnodi section on Hybrid Annuity Mode. The SPV has been incorporated as a wholly-owned subsidiary of the company for the execution of this project, as per requirement of Concession Agreement. The accepted Bid Project Cost is ₹1,079 crore.
The board of Zydus Lifesciences Ltd will will meet on May 20 to consider buyback of shares.
Coastal Corporation has entered into an MoU with the Central Institute of Brackish water Aquaculture of Indian Council of Agricultural Research, Chennai, with a view take up the business of Shrimp Larva Feed Production.
Kimia Biosciences has been granted permission to manufacture and marketing of Bemopedoic acid Bulk Drug under New Drug and Clincial Trials Rules, 2019, under Drug & Cosmetics Acts, 1940 for manufacture and market of Bempedoic acid Bulk Drug. The permission has been granted by Directorate General of Health Services Central Drugs Standard Control Organisation (New Drug Division) on Tuesday.
Results Calendar: A2Z Infra Engineering, Aditya Birla Fashion and Retail, Allied Digital, Arvind, Barbeque Nation Hospitality, Aurionpro, Barbeque Nation, Brookfield India Real Estate Trust REIT, Cantabil Retail, Celebrity Fashions, Finolex Industries, GIC Housing Finance, GMR Power and Urban Infra Ltd, GTL Ltd, Gujarat Pipavav, Granules, ITC, Indraprastha Gas Ltd, InterGlobe Aviation Ltd, Indian Overseas Bank, JK Lakshmi Cement, KCP, LIC Housing Finance, Lupin, Maharashtra Corporation, Manappuram Finance, Nouveau Global Ventures, NXT Digital, NDTV Ltd, Panacea Biotec, Pidilite Industries Ltd, Ramco Industries, Ratnamani Metals, Rane Braking, Route Mobile, Sahyadri, Sintex Plastics, Shyam Metalics, Shriram Asset Management Co, Steelcast, Sterling Tools, Teamlease, TNPL, Ucal Fuel and Westlife Developments Ltd.