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Britannia Industries Ltd has sought approval of its shareholders to borrow up to ₹2,000 crore, over and above its equity capital and reserves. The company will be holding its annual general meeting on August 12 to seek shareholders’ nod for this. Shares of Britannia gained 3.4 per cent to ₹1,028 on the NSE.
The board of directors of Safari Industries India on Monday approved the company’s plan to allot 8.3 lakh equity shares of ₹10 each at a price of ₹600 apiece, aggregating to ₹49.8 crore on preferential basis, to Tano India Private Equity Fund II. The board also okayed the allotment of 3.3 lakh share warrants to Sudhir M Jatia, promoter of the company. He can obtain allotment of one equity share at ₹600 against each share warrant, according to SEBI formula in one or more tranches, at any time after one month from the date of allotment, but within 18 months.
IOL Chemicals and Pharmaceuticals Ltd has informed the exchanges that it has obtained certificate of good manufacturing practices compliance of manufacturer from the Authority for Health and Consumer Protection, Hamburg, Germany. This is in addition to the Certificate of suitability already obtained from the European Directorate for the quality of medicines and healthcare, France. This will facilitate the company to improve the sale of Ibuprofen in the European countries. The stock of IOL Chemicals closed at ₹48, up 3.35 per cent on the NSE.
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