The Reserve Bank of India after market hours yesterday, 13 December 2017 notified that the foreign investment limit for investment by Foreign Portfolios Investors (FPIs) in Manpasand Beverages has increased from 24% to 49% of its paid up capital. Further, owing to the above increase in the investment limit, it is notified that the aggregate shareholding by FPIs in Manpasand Beverages has gone below the prescribed FPIs investment limit for the company. Hence, the restrictions placed on the purchase of shares of the above company by FPIs, are withdrawn with immediate effect.
Rural Electrification Corporation (REC) said it has launched an issue of $400 million, 3.068% notes due 2020, priced on 11 December 2017. The notes will mature on 2020 and all principal and interest payments will be made in US dollars. The settlement date for the notes is expected to be 18 December 2017. The announcement was made after market hours yesterday, 13 December 2017.
The net proceeds from the sale of the notes will be applied for refinancing the outstanding external commercial borrowings of the company within the ambit of the ECB Guidelines and such other guidelines specified by the Reserve Bank of India (RBI).
Tata Communications announced that its board approved a draft scheme of arrangement and reconstruction between the company and Hemisphere Properties India (HPIL). The scheme provides a demerger by way of reconstruction or splitting up of the company by way of transfer of the surplus land to HPIL and the consequent issue of equity shares by HPIL to the shareholders of company, which will be followed by a transfer of equity shares of HPIL allotted to Panatone Group Companies (collectively, Panatone, Tata Sons and Tata Power Company) to the erstwhile shareholders of Tata Communications who had tendered shares in the open offer by Panatone and to the Government of India, in the manner set out in the scheme and various other matters consequential to or otherwise integrally connected with the above. The announcement was made after market hours yesterday, 13 December 2017.
Singer India announced that its board approved acquiring 10 lakh equity shares of Brand Trading (India) (BTIL) from BTIndia, a company incorporated in British Virgin Islands (holding 999,999 equity shares in BTIL) and Singer (Thailand) BV, a company incorporated in Netherlands (holding 1 equity share in BTIL) at a consideration of Rs 16.52 per equity share calculated at 95% of the value arrived. The investment will make BTIL a 100% subsidiary of Singer India. BTIL was incorporated on 24 June 2005 with a view to carrying on wholesale trading business in India by Singer. This company will be pursuing this business further as a separate 100% arm of Singer India. The announcement was made after market hours yesterday, 13 December 2017.
PVR will be watched. PVR Cinemas, India's largest cinema exhibition company, signed a strategic deal with CJ 4DPLEX, an innovative cinema technology featuring moving seats and environmental effects. With this announcement, PVR retains its position in Indian market with 21 4DX theatres and becomes the major provider of 4DX experience in the country.
Both partners plan their new roll-out for 4DX at PVR Cinemas' highest grossing theaters in Delhi, Gurgaon, Bengaluru, Mumbai, Chandigarh, Pune and others. With this extended partnership, PVR will add 16 more 4DX screens at its cinemas, taking the total to 214DX auditoriums in India by the end of 2019. The announcement was made after market hours yesterday, 13 December 2017.
Prataap Snacks' consolidated net profit rose 142.4% to Rs 12.92 crore on 10.1% rise in total income to Rs 264.10 crore in Q2 September 2017 over Q2 September 2016. The announcement was made after market hours yesterday, 13 December 2017.
Bodal Chemicals' net profit fell 27% to Rs 26.18 crore on 23.5% fall in total income to Rs 264.30 crore in Q2 September 2017 over Q2 September 2016. The announcement was made after market hours yesterday, 13 December 2017.
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