Thomas Cook (India) said its board approved to divest a 5.42% stake in its subsidiary, Quess Corp, to bring its shareholding to 51.56%, thereby proposing to raise funds of over Rs 600 crore through an offer for sale (OFS) in two trading sessions viz. Thursday, 23 November 2017 for non-retail investors and on Friday, 24 November 2017 for retail investors and for non-retail investors who choose to carry forward their bids. The floor price for the OFS is Rs 800 per share. The announcement was made after market hours yesterday, 22 November 2017.
Post dilution, the promoter shareholding in Quess Corp would be 75.38%. The initiative is in requirement of Sebi's regulations to bring down promoter stake to 75%. It is also aimed at retiring Thomas Cook India's long term debt, thus bringing down the company's financial costs and improving profitability and liquidity at both standalone and group level.
Tata Teleservices (Maharashtra) said that the ratings agency Crisil has upgraded its ratings on the company's Rs 5,166 crore bank loan facilities to CRISIL AA-/CRISIL A1+ from CRISIL A/CRISIL A1. The ratings have been removed from 'watch with developing implications' and a 'stable' outlook has been assigned to the long-term facilities. The announcement was made after market hours yesterday, 22 November 2017.
Karnataka Bank said it has opened its 775th branch at Bajagoli in Karnataka on 22 November 2017. The announcement was made after market hours yesterday, 22 November 2017.
Arrow Greentech (AGTL) said it has received a patent for method of manufacturing embedded water soluble film carrier from United States of America Patent Office. The invention relates to a water-soluble film (WSF) system with embedded/entrapped active ingredients. The announcement was made after market hours yesterday, 22 November 2017.
HealthCare Global Enterprises announced that its board has approved the proposal for issuance of 11.66 lakh equity shares at Rs 300 each on preferential allotment basis, to Indgrowth Capital Fund 1, a Sebi registered Category lll, Alternative Investment Fund (investor). The shares so allotted to the Investor shall be locked in for a period of one year from the date of trading approval. The announcement was made after market hours yesterday, 22 November 2017.
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