Jindal Steel & Power Ltd's board has accepted the revised binding offer from Worldone Private Ltd to divest its 96.42 per cent stake in Jindal Power Ltd, its material subsidiary. Worldone will buy out all the Equity Shares and Redeemable Preference Shares of JPL held by JSPL for a total consideration of approximately Rs 7,401 crore. The deal will also entail debt associated with JPL (of Rs 6,566 crore approximately as on December 31, 2020, moving out of JSPL's consolidated books, thereby, strengthening JSPL's balance sheet.
R Systems International: The Board of Directors of R Systems International has approved a proposal for buyback of equity shares up to 13.33 lakh shares (representing 1.11 per cent of the total number of equity shares in the paid-up share capital of the company) at Rs 225 a share for a total consideration of Rs 29.99 crore). The offer will be on a proportionate basis through "tender offer" route
Shareholders of MBL Infrastructures on Saturday approved raising of funds up to Rs 300 crore in the AGM. "With the completion of several public interest projects post-approval of the Resolution Plan under IBC, 2016, with enhanced bid capacity, the company shall endeavour to win 4-5 large ticket size projects. With the support of all the stakeholders, the approval of fund raising up to Rs 300 crore, with impetus of the Government on the infrastructure sector, the company is now poised to be in the growth trajectory," said Surender Aggarwal, Executive Director, Mr D S Negi, CFO and Mr Anubhav Maheshwari, Company Secretary, while addressing the company officials on the outcome of the AGM.
The National Stock Exchange has reduced the trading lot size of the six REITs (Real Estate Investment Trusts) and InvITs (Infrastructure Investment Trusts) listed in the exchange to one. Embassy Office Parks REIT, Mindspace Business Parks REIT, Brookfield India Real Estate Trust, India Grid Trust, IRB Invit Fund and Powergrid Infrastructure Investment Trust will remain in focus, as currently, the lot size varies from 100 to 2,500. The move will enhance liquidity and encourage retail investors' participation. The change in lot size will come into force from August 11, NSE said.
The Board of the Directors of Natural Capsules Ltd has approved issue of equity shares of Rs 10 each on a rights basis in the ratio of one share for every two shares held on the record date at Rs 100 a share. The details of the issue, including the calls, will be decided by the sub-committee of the board in consultation with the investment banker, for the rights issue, it said in a notice to the stock exchanges.