Bharti Airtel and Warburg Pincus, a global private equity firm focused on growth investing, announced that an affiliate of Warburg Pincus will acquire up to a 20% equity stake in Bharti Telemedia, the DTH arm of Airtel, for approximately $350 million. Of this, 15% stake will be sold by Bharti Airtel and the balance by another Bharti entity which holds 5% stake. Upon closing of the transaction, Airtel will own an 80% equity stake in Bharti Telemedia. The announcement was made after trading hours yesterday, 12 December 2017.
Bharti Telemedia is one of the largest Direct-To-Home (DTH) paid TV service providers in India and offers services under the Airtel TV brand. It had approximately 14 million subscribers and approximately $550 million in revenues during the 12-month period ended 30 September 2017.
Asain Paints said that the company has acquired 100% stake in Reno Chemicals Pharmaceuticals And Cosmetics (Reno), Mumbai consisting of 4950 equity shares of the face value of Rs 100 for an amount of Rs 159.52 crore. The transaction is with an objective of using the land and building of Reno to meet the company's growing infrastructure requirements. The announcement was made after trading hours yesterday, 12 December 2017.
Wipro will be watched. Topcoder, the world's largest workforce marketplace for designers, developers, and data scientists, announced the launch of Hybrid Crowd, an extension of the Topcoder platform that enables enterprises to crowdsource work to public, private, and certified communities. Topcoder became a part of Wipro in November 2016. Hybrid Crowd is a first-of-its-kind platform that combines the power of Topcoder's 1.2 million member global community with the networks of technical talent that exist within every organization. Enterprises now have access to an integrated platform for crowdsourced talent which they can utilize to provision work to the right people at any stage of a project. The announcement was made after trading hours yesterday, 12 December 2017.
InterGlobe Aviation said that Acquire proposes to sell up to 79.52 lakh equity shares representing 2.07% of the total paid up equity share capital of the company and IGE (Mauritius) proposes to sell 32.40 lakh equity shares representing 0.84% of the total paid up equity share capital of the company, on 13 December 2017 for non-retail investors only and on 14 December 2017 for retail investors and for non-retail investors who choose to carry forward their unallotted bids through a separate, designated window on the Stock Exchanges. The floor price of the offer is Rs 1130 per share. The announcement was made after trading hours yesterday, 12 December 2017.
BEML has launched 5.4 ton, 3.1 cum bucket wheel loader BL30-1 at Excon Exhibition 2017 at Bangalore. This high performance and rugged wheel loader was designed and developed by BEML research and development (R&D). The announcement was made after trading hours yesterday, 12 December 2017.
BL30-1 front-end wheel loader is designed for maximum equipment utilization, with best-in-class fuel efficient engine, ergonomically designed cabin added to superior production performance. This wheel loader is suited for various loading applications and provide higher return on investment. Apart from this, BEML is showcasing other construction equipment such as BG605I and BG405A motor graders, BE220G hydraulic excavator, BL9H backhoe loader in this exhibition.
NBCC (India) announced that it has secured new business valuing $23 million for social housing units in Mauritius. The announcement was made after trading hours yesterday, 12 December 2017.
The company had earlier announced signing an agreement with the Republic of Mauritius for construction of social housing units in Mauritius valuing $22 million (Rs 150 crore approximately). Now, Government of Mauritius has increased the number of housing units and revised the project cost to $45 million (Rs 300 crore approximately). Accordingly, NBCC has secured new business valuing $23 million for social housing units in Mauritius.
Gujarat Apollo Industries' net profit dropped 85.88% to Rs 1.96 crore on 28.77% slide in total income to Rs 27.29 crore in Q2 September 2017 over Q2 September 2016. The announcement was made after trading hours yesterday, 12 December 2017.
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