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According to market buzz that Foreign parent Timken Singapore of Timken India will sell up to 6.6 per cent equity in a block deal for ₹1,775 crore. According to media reports, the floor price has been pegged at ₹3,550, ovr 10 per cent discount to Monday’s closing price.
Inox Wind, promoter of IWEL, is likely to sell up to 5 per cent stake, between ₹148 and ₹150 a share, according to market talk.
Ontario Inc is likely to sell 3.4 per cent stake in Concord Biotech through block deals, at a floor price of ₹1,320 a share, over 8 per cent discount to Monday’s closing price, according to media reports.
IIFL Finance has said that finalisation of March quarter results will be extended beyond May 30 due to engagement in the special audit being carried out by the RBI. It expect to release the results before June 30.
UltraTech Cement has made an offer to acquire a 31.6 per cent stake in UAE-based RAK Cement Co for White Cement and Construction Materials PSC (RAKWCT). This would be done by UltraTech Cement Middle East Investments Ltd (UCMEIL), a wholly-owned subsidiary of the Indian cement maker in the UAE. On April 15, UltraTech had informed that UCMEIL will invest in 29.39 per cent equity share capital of ‘Ras al Khaimah Co. for White Cement and Construction Materials PSC’ (RAKWCT), a company listed on the Abu Dhabi stock exchange.
Honasa Consumer, which owns FMCG brands Mamaearth and The Derma Co, has acquired cosmetic formulation maker CosmoGenesis Labs for an undisclosed amount. This acquisition will help the company, which was listed in November last year, to have a significant leap in research-driven innovation, the company said. CosmoGenesis boasts of extensive expertise in various facets of cosmetics, coupled with rich experience in natural & organic formulations, it said.
The board of Adani Energy Solutions on Monday approved a proposal to raise up to ₹12,500 crore through issue of equity shares on qualified institutional placement basis or other modes. The company will seek the approval of the shareholders at the ensuing annual general meeting scheduled to be held on June 25.
FSN E-Commerce Ventures, which owns beauty and fashion platform Nykaa, announced the appointment of Santosh Desai as an Independent Director on its board, effective July 15, 2024. The appointment is subject to shareholders’ nod, according to a release.
Keystone Realtors has raised ₹800 crore through the QIP. Quant MF, Morgan Stanley, ADIA are among those who participated in the QIP, issued at ₹660 a share.
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