Mahindra & Mahindra (M&M) announced that it would be investing in Zoomcar India and in Zoomcar Inc, its US incorporated holding parent company, in keeping with the Mahindra's thrust on the shared mobility business. Under the aegis of the deal, Mahindra Group would invest up to Rs 176 crore in Zoomcar India or Zoomcar Inc. which, on an as converted to common stock of Zoomcar Inc on a fully diluted basis, would constitute approximately 16% stake in Zoomcar Inc. The announcement was made after market hours yesterday, 15 February 2018.
Mahindra has been keen to invest in the shared mobility space as a part of its strategy to promote and participate in sustainable mobility solutions, including multi modal urban mobility. This is with the objective of enabling improved livelihoods and lifestyles of people, thereby enabling them to RISE. To that end, Mahindra has been promoting electric vehicles along with the promotion of shared mobility. This investment in India's leading self-drive shared mobility company will enable the company to further its objectives in this area.
Infosys announced that UCAS, the admissions service for UK higher education, has extended its existing partnership with the company to support its business strategy up to 2021. UCAS delivers critical admissions and information services to students, schools and higher education providers.
As part of the renewed engagement, Infosys will provide a wide range of digital services that will enable UCAS to continue to develop technology capabilities that connect learners to multiple destinations, such as universities, awarding bodies, schools and other organisations, using a dynamic digital suite of systems that responds to a rapidly changing higher education sector in the UK. The announcement was made after market hours yesterday, 15 February 2018.
Idea Cellular said that capital raising committee of the company is scheduled to meet on 21 February 2018, to consider and approve the issue price including a discount, if any, for the equity shares to be allotted to the qualified institutional buyers pursuant to the qualified institutional placement (QIP). The announcement was made after market hours yesterday, 15 February 2018.
IDBI Bank said it sold entire 1.20 crore equity shares, constituting 30% of the paid up capital, of NSDL e-Governance Infrastructure (NEGIL) on 15 February 2018. The announcement was made after market hours yesterday, 15 February 2018.
More From This Section
Indoco Remedies said it has been granted an European good manufacturing practices (GMP) certification dated 12 February 2018 from Regulatory Authority of Hungary for its manufacturing facility for Non Sterile products (Goa - Plant lll), located at L-32, 33, 34 Verna Industrial Estate, Goa. The EU GMP certification will enable Indoco to continue to export medicinal products to all European countries. The granted GMP certification will also continue to support exports of drug products to Canada, Australia, New Zealand & rest of the emerging territories as well. The announcement was made after market hours yesterday, 15 February 2018.
Wockhardt said that credit ratings agency CARE Ratings has revised rating for the proposed issue of non-convertible debentures (NCDs) for an amount of Rs 250 crore of the company as 'CARE A+; Outlook: Stable' from earlier rating of 'CARE AA-; Outlook: Negative'. The announcement was made after market hours yesterday, 15 February 2018.
Prakash Industries said that its board approved issuing 1.12 crore convertible equity warrants on preferential basis, thereby raising an amount aggregating to Rs 234 crore subject to the approval of the shareholders. The proceeds from preferential issue will be utilized to augment the working capital requirements of the company and to meet other long term requirements including debt repayments. The announcement was made after market hours yesterday, 15 February 2018.
Prakash Industries said it will raise Rs 208 crore by issuing 1 crore convertible equity warrants at Rs 208 each, convertible into equity shares of Rs 10 each, to promoter and promoter group. The company will raise to Rs 26 crore by issuing 12.50 lakh convertible equity warrants at Rs 208 each, convertible into equity shares of Rs 10 each, to Chartered Finance & Leasing (non promoter).
Mukand announced that its board at a meeting held on 14 February 2018, proposed withdrawal of the scheme of arrangement and amalgamation amongst the company and its subsidiaries for transfer of industrial machinery business to its subsidiaries, as envisaged earlier, in the wake of unfavourable external business environment for industrial machinery sector at present. The announcement was made after market hours yesterday, 15 February 2018.
Powered by Capital Market - Live News