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| Updated on August 11, 2021

Trent, India Glycols, Dynamatic Tech, IND Renewable in focus

Trent: The board of directors of Trent Ltd has approved the re-appointment of P. Venkatesalu as Executive Director and Chief Executive Officer for a three-year term with effect from October 6 on fresh terms of re-appointment and remuneration, subject to necessary approvals. He has his resignation as Chief Financial Officer. The company will appoint a Chief Financial Officer in due course.

The board of IND Renewable Energy Ltd has considered and approved raising of funds by issuance and allotment of equity shares for an aggregate amount of up to Rs 15.5 crore by way of a rights issue to eligible equity shareholders as on the record date (to be notified later) on terms to be decided by the board or a committee of the board.

Rattan India Enterprises has decided to make a strategic investment in US-based Matternet, the world's most extensive urban drone logistics platform. With this investment, REL has forayed into the deep-tech Unmanned Aerial Vehicle (UAV) industry, which is set to transform logistics ecosystems worldwide. Matternet, based out of Silicon Valley, counts Boeing, Mercedes-Benz, McKesson Ventures and Sony as investors.

The board of India Glycols Ltd has approved to set up, install and commission grain-based distillery units with a capacity of 180 KLPD and 110 KLPD at its Kashipur and Gorakhpur sites. An estimated total capital expenditure of approximately Rs 304 crore would be incurred on the project. The grain distillation capacities at Gorakhpur and Kashipur are expected to be commissioned by March 31, 2022.

The Board of Directors of Ester Industries Ltd has approved capital expenditure of Rs 80 crore for capacity expansion of certain grades of speciality polymer business. The existing capacity of these products is 6,000 tpa and the capacity utilisation is more than 80 per cent. The company proposes capacity addition of 6,000 tpa for these products. The period within which the proposed capacity is to be added is 24 months. The investment of Rs 80 crore will be funded through a mix of internal accruals and debt.

Arihant Superstructures: HDFC Ltd has reduced its interest rate from 12.10 per cent per annum to 10.75 per cent for term loans of an outstanding amount of Rs 106 crore for Arihant Aspire Project and the same will benefit Arihant Superstructures Ltd's financials.

Ganesh Benzoplast Ltd has incorporated a wholly-owned subsidiary, GBL Infra Engineering Services Private Ltd for EPC projects. The Initial Paid-up share capital will be Rs 5 lakh and it will be a wholly-owned subsidiary, registered with ROC, Mumbai. Its main business will be to provide and supply all materials, installation and commissioning of projects for bulk storage tanks for chemicals, liquids, petroleum-based products and edible oils, internal pipeline & structural works, cross-country pipeline, etc.

Dynamatic Technologies: Ace investor Madhuri Madhusudan Kela has acquired 44,700 equity shares of the company at Rs 1,618.88 a share and Abakkus Emerging Opportunities Fund - 1.25 lakh shares at Rs 1,617 a share, a bulk deal data on the BSE has revealed. Promoters Udayant Malhoutra sold 96,719 shares at Rs 1,616.38 a share and Wavell Investment sold 1,53,281 shares at Rs 1,619.54 a share.

Published on August 11, 2021

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