Company news

| Updated on January 23, 2018 Published on May 22, 2015

Sequent Scientific has closed its qualified institutional placement issue on Friday. The QIP committee of the company had fixed the issue price at ₹535, a discount of 4.90 per cent to the floor price of ₹562.5625. In June last year, its board had approved raising funds up to ₹400 crore, including through QIP. Shares of Sequent Scientific closed 0.96 per cent lower at ₹620 on the BSE.

Talbros Engineering has entered into a joint venture agreement with Sypris Technologies Inc, US, for manufacturing rear axle shafts using extrusion technology equipment to be supplied by the latter. The product will be used in automotive applications on all types of light, medium and commercial vehicles of highway and agricultural vehicles, including tractors and harvester companies. The company, however, did not disclose any other details, including financial component. Shares of Talbros Engineering jumped 4.9 per cent at ₹212.60 on the BSE.

The board of Capital Trust on Friday took note of the allotment of 75 lakh warrants convertible into equity shares of ₹10 each, at a price of ₹117 a warrant to its promoter, Yogen Khosla, on preferential basis. An amount of ₹21.93 crore, equivalent to 25 per cent of the total consideration has been received on allotment of warrants. The balance 75 per cent will be payable at the time of allotment of equity shares after exercising the option of convert shares within a period of 18 months. The company has informed the bourses that an undertaking has been received by the board from Yogen Khosla declaring that total promoter shareholding will not exceed 75 per cent of total shareholding at any time. Shares of Capital Trust closed at ₹200.60 on the BSE.

Published on May 22, 2015
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