Shares of Gateway Distriparks Limited (formerly known as Gateway Rail Freight Limited-GRFL) will be relisted today. The company has completed the process of getting the approval for listing and trading of the equity shares allotted pursuant to the Composite Scheme of Amalgamation on BSE Limited and the National Stock Exchange of India Limited. As per the corporate restructuring process, GRFL will become the listed entity and parent GDL (Gateway Distriparks) and subsidiary GEIPL (Gateway East India Private Ltd) will cease to exist. Each GDL shareholder would have received four GRFL shares for which the record date was January 6, 2022.
Zomato on Monday announced its latest feature — 10-minute delivery of food. Zomato Co-Founder Deepinder Goyal announced the offering on Twitter, saying it will first launch in Gurgaon next month.
Sun Pharmaceutical Industries has entered into a share purchase agreement with Daiichi Sankyo Company Limited, Japan, the company has agreed to acquire 68,86,500 equity shares, representing 11.28 per cent of present equity share capital of Zenotech Laboratories Limited, which is presently a subsidiary of the company. The above transaction is inter-se transfer between the promoters of Zenotech Laboratories Limited.
Equitas Small Finance Bank Ltd (ESFBL) on Monday announced that its Board of Directors has approved a Scheme of Amalgamation between Equitas Holdings Ltd (EHL) and ESFBL and their respective shareholders. According to the scheme of arrangement, shareholders of Equitas Holdings will receive 231 fully-paid equity shares of ESFBL for every 100 shares held by them in Equitas Holdings. The consideration for the Scheme will be discharged on an arm’s length basis.
APL Apollo Tubes Ltd (APL Apollo), India's leading branded structural steel tube manufacturer, announced a minority equity investment by APL Apollo Mart Limited (Apollo Mart), a wholly owned subsidiary of APL Apollo in Shankara Building Products Ltd (Shankara) through a combination of purchase of secondary promoter shares and proposed preferential allotment of convertible warrants. The investment is in-line with APL Apollo's growth vision. Accordingly APL will purchase 10 lakh equity shares at ₹755 a share from a person belonging to promoter category and subscribe 14 lakh warrants at ₹750 a warrant, fully convertible into equity shares by way of preferential allotment. APL Apollo and Shankara have a business association of over 15 years, with Shankara being one of the key distributors of APL Apollo's products. APL Apollo's association will ensure consistency in sales through Shankara's retail and wholesale network and will create synergies for APL Apollo Tubes.
KEC International Ltd., a global infrastructure EPC major, an RPG Group Company, has secured new orders of ₹1,005 crore across its various businesses: The Transmission & Distribution (T&D) business has secured orders for supply of towers and poles in Americas; The civil business has secured an order for construction of depot cum workshop in the urban infra segment in India; and the cables business has secured orders for various types of cables in India and overseas.
Star Union Dai-ichi Life Insurance (SUD Life), a joint venture between two of India's leading public sector banks, Bank of India and Union Bank of India, and Dai-ichi Life Japan has partnered with Vakrangee, a fintech player at the forefront driving financial inclusion and social inclusion initiatives through its network of Kendras to increase the organisations' footprints and provide insurance services till last mile across Bharat.
KM Sugar Mills has approved modernisation of the sugar plant and are changing its double sulphitation sugar process into refinery in its plant at Ayodhya, Uttar Pradesh. This will also bring down the steam consumption on cane with refinery and help in net bagasse saving. The rated capacity of the sugar refinery will be 1,200 tonnes per day of raw sugar refining with below 45 ICUMSA sugar.
GR Infraprojects has emerged as L-1 bidder for the tender invited by National Highways Authority of India for '4-Laning of UjjainBadnawar Section from km 26.9 to km 96.00 (Length-69.1 km) in Madhya Pradesh on HAM.
Godawari Power & Ispat Limited has signed a Share Purchase Agreement with Hira infraTek Limited to acquire 44,54,621 equity shares of Hira Ferro Alloys Limited (HFAL) from HITL at ₹224 a share. Subsequent to acquisition, the GPIL's holding in HFAL will increase from 56.45 per cent to 75.66 per cent of the paid-up capital of HFAL.
The Government of India has sanctioned a loan of ₹10 crore to Hemisphere Properties India Limited at the terms and conditions decided by Ministry of Finance, Government of India.
Indsil Hydro Global (FZE), Sharjah, a wholly owned subsidiary of Indsil Hydro Power and Manganese Ltd has been permanently closed down. The closure of the company does not have any effect on the company's operations.