The Hindu Business Line : Corporate developments

Coimbatore, Nov. 21 ACC Ltd has disposed off certain surplus assets including land at Surajpur, Haryana, for a consideration of Rs 205.11 crore. The proceeds would be utilised towards the ongoing capital expenditure schemes.

Apollo Sindhoori Capital Investments Ltd has said the board of directors approved the private placement of 6,35,000 shares @ 2.5 per cent premium over and above the price calculated as per SEBI DIP Guidelines subject to minimum of Rs 550 per share to overseas bodies corporate. The names of the proposed investors will be intimated once it is finalised.

Deccan Aviation Ltd has clarified that no proposal relating to merger of Kingfisher Airlines with the company has been considered by the board of directors as on date.

Kirloskar Electric Company Ltd’s board of directors will meet on November 28 to consider possible reorganisation by the merger of the subsidiary - Kaytee Switchgear Ltd and demerger of the operating division of Kirloskar Power Equipments Ltd into the company and to take further action pursuant thereto.

Parle Software Ltd’s board of directors will meet on November 30 to consider and approve the issue of bonus shares.

Pioneer Embroideries Ltd has entered into a development agreement with Sunteck Realty & Infrastructure Ltd for the development of its property situated at Hakoba Compound, Western Express Highway, Borivali (East), Mumbai.

Ramsarup Industries Ltd has bagged orders aggregating Rs 35.64 crore from Essar Steel (Hazira) Ltd - SEZ Rs 7.40 crore, Reliance Petroleum Ltd - SEZ Rs 6.24 crore and Reliance Energy Ltd (Rosa Power Project) - Rs 22 crore.