Dabur India on Wednesday informed the exchanges that it has dissolved its step-down subsidiary Dabur Tunisie. For FY16-17, it had reported a turnover of ₹9.32 crore, which is 0.12 per cent of the consolidated turnover of the company. The net worth of the company was ₹1.02 crore, which is 0.02 per cent of the consolidated net worth of Dabur India. The liquidation is expected to be completed by March 2018. Dabur’s wholly-owned subsidiary Dabur International had incorporated Dabur Tunisie in Tunisia on December 17, 2013. Shares of Dabur India edged down 1.4 per cent at ₹310.50 on the NSE.

The board of Sanghi Industries on Wednesday approved raising up to ₹1,000 crore in India or from foreign markets. The fund-raising may be done through issue of equity shares and/or convertible and/or non-convertible debentures and/or preference shares and/or bonds and/or any other financial instrument convertible into equity shares, or such other securities as may be permitted, by way of a public or private offering, including through a qualified institutional placement for an aggregate amount not exceeding ₹1,000 crore in one or more tranches. The stock, however, slumped 5.4 per cent at ₹84.5 on the NSE.

Balkrishna Paper Mills has informed the exchanges that the allotment committee of its board of directors on Wednesday allotted 25 lakh 9 per cent cumulative redeemable preference shares of ₹100 each for cash at par on private placement basis to Siyaram Silk Mills. Shares of Balkrishna Paper gained 1.5 per cent at ₹82.55 on the NSE.

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