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Suven Life Sciences has fixed the floor price at Rs 201.38 for the qualified institutional placement, which is open for subscription on Thursday. The company has already received board and shareholders approval for the issue. The company may offer a discount of not more than 5 per cent on the floor price for the subscribers of QIP. Shares of Suven Life Sciences slipped 0.90 per cent at ₹203 on the BSE.
Surana Telecom and Power Company has received Letter of Award (LOA) from Karanataka Renewable Energy Development Ltd (KREDL) for development of 10 MW solar power project in Tingloor, Tumkur. The total outlay for the project is about ₹60 crore. KREDL had sought Request for Proposal to set up 500 MW Solar PV Plant in Karnataka. The stock on Thursday closed at ₹9.6, a fall of 4.95 per cent on the NSE.
Gillanders Arbuthnot & Company Ltd has completed the acquisition of Group Developments (GDL), Malawi, for $12.01 million (about ₹73 crore) through its wholly-owned subsidiary Gillanders Holdings (Mauritius) Ltd. The company on February 18 had entered into a share purchase agreement with GDL for the acquisition of shares. The Gillanders shares edged up 3.456 per cent at ₹69.
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