Kansai Nerolac Paints has entered into Share Purchase Agreement (SPA) to acquire 100% equity stake in Perma Construction Aids as on the closing date ( i.e. the day on which the transaction would be consummated) for a total consideration of Rs 29.10 crore. This is subject to adjustments for borrowings, working capital and fixed assets as at the closing date. The announcement was made after market hours yesterday, 27 December 2018.
Ashoka Buildcon said that the committee of the board of directors approved the allotment of 1,500 Un-Secured, Redeemable, Listed, Rated Non-Convertible Debentures (Debentures) of the face value of Rs 10 lakh aggregating Rs 150 crore on a private placement basis. The coupon rate is 9.80% per annum, payable annually. The company will use the proceeds for refinancing of existing debt, capital expenditure, long term working capital and for general corporate purposes. The announcement was made after market hours yesterday, 27 December 2018.
Lemon Tree Hotels agreed to enter into a joint venture with Magnolia Grove Investment, an affiliate of Warburg Pincus group. The joint venture company i.e., Hamstede Living will construct, acquire, develop, operate and lease short- and long-stay real estate projects, with a primary focus on student housing, co-living for working professionals/adults and multi-family users. The announcement was made after market hours yesterday, 27 December 2018.
Hindustan Construction Company (HCC) received applications worth Rs 551.38 crore pursuant to its rights issue of equity shares. Valid applications were received for 110.74% of the aggregate issue of up to 49,75,76,833 equity shares of face value of Re 1 each at an issue price of Rs 10 per share. Upon completion of the rights issue, the paid-up share capital of the company stands enhanced to Rs 151.30 crore from Rs 101.55 crore and the promoter/ promoter group shareholding in the company has increased to 33.12% from 27.80%. The announcement was made after market hours yesterday, 27 December 2018.
The Central Government has informed its decision to invest Rs 2159 crore in the equity capital of the United Bank of India by Preferential Allotment. The announcement was made after market hours yesterday, 27 December 2018.
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