Shree Pushkar Chemicals & Fertilisers debuts on the secondary equity market today, 10 September 2015. The company had priced the initial public offer (IPO) at the top end of the Rs 61 to Rs 65 per share price band for the IPO. The IPO closed on 27 August 2015. It was subscribed 1.34 times, with total bids for 1.53 crore shares, compared with 1.14 crore equity shares on offer.
Dr Reddy's Laboratories and PanTheryx, Inc., have entered into a licensing agreement that grants Dr Reddy's exclusive right to market and distribute PanTheryx's nutritional intervention, DiaResQ, for infectious diarrhoea in India and Nepal. Dr Reddy's will market the product in India and Nepal under the Reliqua brand. Dr Reddy's Laboratories made the announcement after market hours yesterday, 9 September 2015.
Shares of state-run power generation major NTPC after market hours yesterday, 9 September 2015, announced that it proposes to raise up to Rs 400 crore with an option to retain over subscription of up to Rs 300 crore from public issue of tax-free secured redeemable non-convertible bonds during the year ending 31 March 2016. The government has authorized the company to raise up to Rs 1000 crore through tax free bonds, including Rs 700 crore through public issue.
Shares of steel companies will be in focus after the Director General of Safeguards recommended imposition of provisional safeguard duty of 20% on import of hot-rolled flat products of non-alloy and other alloy steel in coils of a width of 600 MM or more for a period of 200 days. The Board of Safeguards headed by the Commerce Secretary will take a final call on the imposition of the safeguard duty. The safeguard duty is a global safeguard measure to protect the domestic industry and once imposed the levy is applicable on import of the product from all countries.
Bharti Airtel after market hours yesterday, 9 September 2015, said that Axiata Group Berhad (Axiata) and Bharti Airtel have entered into an exclusive discussion to explore the possibility of combining the business operations of their telecommunication subsidiaries in Bangladesh namely, Robi Axiata and Airtel Bangladesh. There is no certainty that this discussion will lead into the execution of binding definitive agreements between the two firms, Bharti Airtel said in a statement. This announcement is to facilitate the on-going discussions and exchanges of information between the firms, including but not limited to discussions with the relevant regulatory authorities, Bharti Airtel said. Axiata and Bharti Airtel will issue further announcement in the event there is any material development on this matter.
Grasim Industries at the fag end of trading hours yesterday, 9 September 2015, said that the Competition Commission of India (CCI), vide its letter dated 7 September 2015, approved the amalgamation of Aditya Birla Chemicals (India) with Grasim Industries. CCI has further informed that its Order in this regard will follow, Grasim Industries said.
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