Comments
As a part of restructuring, the board of directors of Nelco has accepted an offer from Securens Systems Pvt Ltd. According to the proposal, the company will transfer its Managed Services Business as a going concern on slump sale basis for ₹2.60 crore, with effect from April 1. The deal is subject to concluding a definitive agreement and various approvals and consents from the members, the company said. Shares of Nelco closed at ₹78, down 0.26 per cent on the BSE.
Bal Pharma, in the capacity of promoter of Lifezen Healthcare Pvt Ltd, has entered into an investment agreement with Bennett Coleman & Co Ltd, which will invest ₹200 crore in the fully convertible debentures of Lifezen Healthcare. Bal Pharma is a co-signatory to the convertible debenture subscription agreement. Lifezen Healthcare is in the business of manufacturing, marketing, distributing, selling and trading of Bal Pharma products. Shares of Bal Pharma slipped 2.83 per cent at ₹63.45 on the BSE.
Gammon India has informed the exchanges that the Bank of New York Mellon, which was acting as the Depository Bank for the company’s Global Depository Receipts programme of 2004, has tendered its resignation effective March 27. The company has not appointed any other bank as all the GDRs have been converted into equity shares and no GDRs are outstanding. Gammon India shares edged down 0.25 per cent at ₹19.80 on the NSE.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.