Mahindra & Mahindra (M&M) and REE Automotive (REE) have signed a Non-Binding Memorandum of Understanding (MOU) to explore development and manufacturing of electric commercial vehicles using REE's corner module technology and the Company's vehicle design, engineering, sourcing capability and manufacturing assets.
ICICI Bank said its board of directors approved the sale of up to 6,442,000 equity shares of ICICI Securities, representing up to 2% of its issued and paid-up equity share capital, through an open market sale, in accordance with applicable law, towards compliance with the requirement of minimum public float of the company.
Hindustan Aeronautics said the government will sell up to 15% stake in the stock through an offer for sale (OFS). The floor price for the offer has been fixed at Rs 1,001 per equity share. The stake sale will take place on a separate window of the stock exchanges on August 27 and 28, 2020.
The board of directors of Siemens has approved the sale and transfer of the company's Mechanical Drives (MD) Business, to Flender Drives Private Limited, a subsidiary of Flender GmbH, which in turn is a subsidiary of SAG, as a going concern on a slump sale basis, with effect from 1st January, 2021 for a cash consideration of Rs 440 crore, subject to adjustment for the change in net current assets and capital expenditure, subsequent to 30th June, 2020 upto the date of actual transfer of the MD Business.
Jindal Stainless said that the board of directors of the company considered and approved raising funds through issue of convertible equity warrants for an amount upto Rs 162.80 crore, on preferential basis.
Allcargo Logistics' board of directors will meet today, 27 August 2020 to consider and approve the voluntary delisting of shares from BSE and National Stock Exchange of India.
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