Essel Propack will be watched. Blackstone announced that private equity funds managed by Blackstone have entered into a definitive agreement with Ashok Goel Trust to purchase a majority stake in Essel Propack ("EPL"), a leading global specialty packaging company and the largest global manufacturer of laminated tubes. Ashok Goel Trust and its affiliates currently hold about 57% of EPL. Blackstone will pay a purchase price of Rs 134 per share to acquire a 51% shareholding from Ashok Goel Trust. As per the Takeover Code in India, this transaction will trigger a mandatory open offer for a purchase of additional 26% shares of the company and the acquiring entity has released a public announcement to the stock exchanges. The open offer price has been fixed at Rs 139.19 per share. Based on the open offer subscription, the purchase price consideration will vary between Rs 2,157 crore and Rs 3,211 crore (or, approximately $310 million - $462 million). Ashok Goel will retain a minority stake in the company. The sale is expected to complete in the coming months, subject to customary closing conditions and approvals. The announcement was made after market hours yesterday, 22 April 2019.
Biocon said that its board of directors will consider and recommend a proposal for dividend and issue of bonus shares at the scheduled meeting on 25 April 2019. The announcement was made after market hours yesterday, 22 April 2019.
Mcleod Russel India has executed an agreement for sale of specified assets of Addabarie Tea Estate, Mahakali Tea Estate and Dirai Tea Estate of the company, with Luxmi Tea Company on 22 April 2019, subject to approval of appropriate authorities. Earlier, the company had entered into a non-binding term sheet with Saffron Enclave for sale of specified assets of the aforesaid three estates, which has expired on 31 March 2019. The announcement was made after market hours yesterday, 22 April 2019.
Hindustan Copper announced that its board will meet on 25 April 2019, to consider and recommend seeking members approval for raising funds through issue of equity shares through qualified institutional placement method in supersession of earlier resolution. The announcement was made after market hours yesterday, 22 April 2019.
Sunteck Realty announced that its board will meet on 2 May 2019, to approve raising of funds by way of debt or equity or any other convertible securities etc. and through QIP, FPO, ADR, GDR, rights issue, debt issue, preferential issue, FCCB etc. or any other mode for raising of funds. The board will also consider audited standalone and consolidated financial results of the company for the quarter and year ended on 31 March 2019. The announcement was made after market hours yesterday, 22 April 2019.
Bank of India said it has allotted 51.76 crore fresh equity shares of Rs 10 each to Government of India (promoters) at Rs 89.60 per share amounting to Rs 4638 crore through preferential issue. The announcement was made after market hours yesterday, 22 April 2019.
AU Small Finance Bank's net profit rose 42.39% to Rs 118.24 crore on 51.22% increase in total income to Rs 1,007.40 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 22 April 2019.
The National Stock Exchange of India (NSE) announced exclusion of Futures and Options (F&O) contracts on 34 securities with effect from 28 June 2019.
The list includes Ajanta Pharma, Allahabad Bank, BEML, Can Fin Homes, CEAT, CG Power and Industrial Solutions, Chennai Petroleum Corporation, DCB Bank, Godfrey Phillips India, Godrej Industries, Gujarat State Fertilizers & Chemicals, IDFC, IFCI, The India Cements, Indian Bank, Infibeam Avenues, IRB Infrastructure Developers, Jet Airways (India), Jain Irrigation Systems, Kaveri Seed Company, The Karnataka Bank, Mangalore Refinery and Petrochemicals, NHPC, Oriental Bank of Commerce, PC Jeweller, Repco Home Finance, Reliance Power, The South Indian Bank, Suzlon Energy, Syndicate Bank, Tata Communications, TV18 Broadcast, V-Guard Industries and Wockhardt.
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