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Shareholders will closely monitor the board meeting of Xchanging Solutions on Thursday that will consider quarterly results and a delisting plan.
The company had received a letter on August 5, from DXC Technology India Private Limited, a member of the promoter/promoter group, expressing its intention to, either individually, or along with one or more members of the promoter/promoter group of the company, launch an offer to voluntarily delist the equity shares from the BSE and the National Stock Exchange of India by acquiring all the equity shares held by the public shareholder.
As on March 31, 2020, the members of the promoter/promoter group of the company held 75 per cent of the equity share capital of the company
Shareholders will be keen to know the offer price to be set by the company. The company had been trying to delist the shares earlier also,
Key Results: Tata Steel, BPCL, Amrutanjan, BOI, Eicher, GAIL, Godrej Ind, Grasim, Hero MotoCorp, PFC
Almost 120 companies will announce their quarterly results on Thursday. The big and most followed companies by marketmen among them include 20 Microns, 3M India, Amrutanjan Health Care, Andhra Sugars, Aditya Birla Fashion, APL Apollo Tubes, Aries Agro, BPCL, Bank of India, Balkrishna Ind, Bharat Gears, City Union Bank, Dishman Carbogen, DB Corp, Eicher Motors, EIH, Emami Paper, Engineers India, GAIL (India), Godrej Ind, Grasim Industries, Greaves Cotton, Hero MotoCorp, India Glycols, Ineos Styrolution, Jyoti Structures, Kirloskar Industries, Kaveri Seed, Lumax Auto, MFL, Nitco, Precision Wires, PPAP Automotive, Prestige Estates, Prism Johnson, Power Finance Corporation, Redington India, Sanghvi Movers, Seamec, Shriram Transport Finance, Sharda Cropchem, Shoppers Stop, Tata Steel, Tamil Nadu Newsprint, Trent, TTK Healthcare, TVS Srichakra, Venky's India and VIP Clothing.
The National Company Law Tribunal, Chennai Bench, has sanctioned a scheme of arrangement between Apollo Hospitals Enterprise Ltd and Apollo Pharmacies Ltd (transferee company) and their respective shareholders for the demerger of the front end portion of standalone pharmacy business into Transferee company for a total consideration of Rs.527.80 crore.
APL, in turn, will be a wholly-owned subsidiary of Apollo Medicals Private Ltd. Apollo Hospitals said the divestment would help the company to focus on its core business of hospitals and healthcare services. At the same time, it will also set the platform for 'value discovery' of the pharmacy business at a later stage with the ultimate objective of maximising shareholder returns.
Shareholders and investors will closely monitor further development.
Thirteen global and domestic investors have submitted expressions of interest for acquiring Reliance Commercial Finance Ltd (RCFL), according to media reports. Among them include, Capri Global, India RF, JM Finance ARC, Edelweiss ARC, UV ARC, Urgo Capital, ARCIL, Authum Investment & Infra Ltd, Assets Care and Reconstruction Enterprise, CFM ARC, Invest ARC, Rare ARC and International Asset Reconstruction Company.
Lenders led by Bank of Baroda had invited bids for RCFL to recover unpaid loans and the last date of submitting the EoI was August 11.
The company is a 100 per cent subsidiary of Reliance Capital Ltd. The firm's total borrowings, including debt securities, stood at Rs 9,800 crore as on March 31, 2020,
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