IFB Agro Industries has informed the BSE that a meeting of the board of directors will be held on April 7 to consider the acquisition of the Co2 (carbon dioxide) and dry ice business of Nurpur Gases Pvt Ltd, a promoter group company. Recently, IFB Agro Industries had allotted 3.62 lakh equity shares of ₹10 each on preferential allotment basis to Nurpur Gases at a premium of ₹178 a share. The stock on Monday closed at ₹180.4, up 4 per cent over the previous day’s close on the BSE.
Olympic Cards on Monday began commercial production at its new manufacturing unit near Chennai with the utilisation of funds raised through a public issue in 2012. The company had earlier extended the commencement of commercial production from January to March 31. The stock on Monday closed at ₹27.6, down 0.7 per cent over Friday’s close.
The board of directors of VHCL Industries (earlier Jhaveri Weldflux Ltd) has approved the proposal for amalgamation of UIC Corporation Pvt Ltd with itself and demerger of its metal division into a separate company. The decision is, however, subject to approval from the shareholders/ High Court/ stock exchanges and other relevant authorities. The appointed date for the amalgamation and demerger is April 1. The board has authorised Pankaj H Valia, Chairman and Managing Director, to appoint various agencies to implement the proposals.
The board of directors of Greycells Education has approved raising funds through an issue of up to 19 lakh equity shares of ₹10 each on preferential allotment basis to Krisma Investments Pvt Ltd, a promoter group company.
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