Comments
Gati Ltd has approved a proposal to form a joint venture with Japanese logistic provider Kintetsu World Express. The joint venture has been christened as ‘Gati-Kintetsu Express'. While Gati would have 70 per cent stake in the new company, KWE would hold the balance in the joint venture and through a Business Transfer Agreement, the Express Distribution and Supply Chain business of Gati would be transferred to the new entity. KWE would invest Rs 267.7 crore for its 30 per cent stake in the joint venture through a combination of primary and secondary acquisition of shares and the funds raised would primarily be used to reduce debt.
Gayatri Projects Ltd's board of directors on February 11 approved Rs 120 as the issue price of the proposed rights issue of aggregate size of Rs 143.86 crore and February 23 as the record date for the issue.
Hatsun Agro Product Ltd's board of directors has recommended issue of bonus shares in the ratio of 1:2.
IRB Infrastructure Developers Ltd has said, IRB Ahmedabad Vadodara Super Express Tollway Pvt Ltd — a wholly-owned subsidiary of the company — has achieved financial closure in terms of the Concession Agreement executed with NHAI, by tying up project finance of Rs 3,300 crore. The total cost of this project is Rs 4,880 crore, out of which equity contribution by the company will be approximately Rs 1,580 crore and remaining will be funded through project finance of Rs 3,300 crore. _
Rushil Decor Ltd has said that due to over production of laminated sheet without prior permission of the Gujarat Pollution Control Board (GPCB) by one of the units (Rushil Decor Ltd — RHPL unit), GPCB directed Uttar Gujarat Vij Company Ltd to disconnect the power supply to the concerned plant in Gandhinagar district, Gujarat, which was done on February 7. The company is following necessary formalities to comply with the GPCB requirements. _
Simbhaoli Sugars Ltd's board of directors has approved the proposal to raise fresh capital to improve the financial liquidity by way of issue of 60,00,000 equity shares to select investor(s) on preferential basis and to issue 16,00,000 share warrants convertible into equity shares to specified promoters of the company.
The price of the equity shares and/ or warrants shall be determined based on the ‘relevant date' under the aforesaid regulations.
Comments
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.