Idea Cellular after market hours on Wednesday, 11 June 2014 said that the Securities Allotment Committee of the Board of Directors of the company, at its meeting held on 11 June 2014, has issued and allotted 22.38 crore equity shares of face value of Rs 10 each to eligible qualified institutional buyers (QIBs) at a price of Rs 134 per equity share, including a premium of Rs 124 per equity share, aggregating approximately to Rs 3000 crore.
Infosys' Board of Directors announced before market hours the selection of Dr. Vishal Sikka as the Chief Executive Officer and Managing Director (CEO & MD) of the company. Dr. Sikka will be inducted as a whole-time director of the Board and CEO & MD (Designate) on 14 June 2014. He will take over as CEO & MD from Mr. S. D. Shibulal on 1 August 2014.
The Board has also elevated Mr. U.B. Pravin Rao, President and whole-time director, as Chief Operating Officer, with effect from 14 June 2014.
Asian Paints after market hours on Wednesday, 11 June 2014 said that the company had entered into a binding agreement with Ess Ess Bathroom Products (Ess Ess) and its promoters to acquire its entire front end sales business including Brands, Network and Sales Infrastructure, subject to satisfaction of certain conditions precedents and applicable statutory approvals. The company has on 11 June 2014, completed the aforementioned acquisition.
ACC's board of directors at its meeting held on Wednesday, 11 June 2014, appointed Mr. Harish Badami as Chief Executive Officer & Managing Director (Designate) from 1 August 2014 and as Chief Executive Officer & Managing Director (CEO & MD) with effect from 13 August 2014 for a period of 5 years to succeed Mr. Kuldip Kaura, CEO & MD whose term of office was extended until 31 December 2014.
Mr. Kuldip Kaura, will demit office as CEO & MD of the company with effect from 13 August 2014 and Mr. Badami will assume responsibility as CEO & MD of the company from the said date. Mr. Kaura will continue to be associated with the company in the capacity of Advisor to the Board, ACC said.
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The offer for sale (OFS) of shares of L&T Finance Holdings (LTFH) by its promoter L&T was oversubscribed 3.18 times. Bids were received for 8.79 crore shares as against a total of 2.75 crore shares offered. Parent L&T had offered 1.65 crore shares for sale, leading to a dilution of 0.96% stake, at a floor price of Rs 74 each. It had said it may sell up to 1.1 crore shares, in addition to the sale of shares. With the OFS, L&T's shareholding in LTFH is close to 75%, meeting capital markets regulator Securities and Exchange Board of India (Sebi)'s norms wherein promoters' holding in listed companies is capped at 75%.
Dabur India after market hours on Wednesday, 11 June 2014 said that the company's wholly owned step down subsidiary company - Dabur Egypt Trading has been liquidated on 29 May 2014 and accordingly, has ceased to be subsidiary company with effect from said date.
Financial Technology (India) after market hours on Wednesday, 11 June 2014 in its clarification to the exchange with regard to news item titled "FTIL Drags FMC to Court over Amended Shareholding Norms" said, "We would like to inform you that the company had intimated to the stock exchanges about the Order passed by FMC on December 19, 2013, subsequent to which on May 06, 2014, FMC has issued revised norms, to that effect the company has filed writ petition inter-alia challenging the extinguishment of voting rights, transfer of shares held by FTIL to Escrow Account and MCX right of selling shares held by FTIL. Hence according to the company, it does not fall into Clause 36 of the Listing Agreement.
"As a responsible corporate and as a matter of good corporate governance practice, any price sensitive information pertaining to operations or performance of the company, or such other information as required under the Listing Agreement, will be first notified to the stock exchanges to comply with the Listing Agreement", FTIL added.
Kirloskar Pneumatic Company on Wednesday, 11 June 2014 said that the Board of Directors have decided to tender not more than 1 lakh equity shares of Kirloskar Chillers at Rs 500 per equity share in the buy-back scheme offered by Kirloskar Chillers.
Ramco Systems after market hours on Wednesday, 11 June 2014 said that for FY 2014, the company's cloud based revenue grew 110% as compared to the previous year.
Axis Bank turns ex-dividend today, 12 June 2014, for dividend of Rs 20 per share for the year ended 31 March 2014 (FY 2014).
Bank of Baroda turns ex-dividend today, 12 June 2014, for final dividend of Rs 10.50 per share for the year ended 31 March 2014 (FY 2014).
CMC turns ex-dividend today, 12 June 2014, for dividend of Rs 22.50 per share for the year ended 31 March 2014 (FY 2014).
Navin Fluorine International turns ex-dividend today, 12 June 2014, for final dividend of Rs 8.50 per share for the year ended 31 March 2014 (FY 2014).
Punjab & Sind Bank turns ex-dividend today, 12 June 2014, for final dividend of Rs 0.60 per share for the year ended 31 March 2014 (FY 2014).
R Systems International turns ex-dividend today, 12 June 2014, for interim dividend of Rs 0.95 per share for the year ending 31 December 2014.
Torrent Power turns ex-dividend today, 12 June 2014, for dividend of Rs 0.50 per share for the year ended 31 March 2014 (FY 2014).
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