BSE: BSE Technologies Private Limited, wholly-owned subsidiary of BSE, has received in-principle approval from RBI for setting up and operating Trade Receivables Discounting System (TReDS) under the Payments and Settlement Systems Act, 2007. TReDS is an electronic platform for facilitating the financing/discounting of trade receivables of Micro, Small and Medium Enterprises (MSMEs) through multiple financiers. These receivables can be due from corporates and other buyers, including Government Departments and Public Sector Undertakings (PSUs).
Vedanta Group will look to bid for buying the government's stake in Hindustan Copper Ltd as and when the state-owned firm is put up for privatisation, its billionaire founder Anil Agarwal has said. He said that the company is doing its due diligence for the same.
Coal India Ltd (CIL), in its Board Meeting held on date, had accorded its in-principle approval to pre-Feasibility Report for setting up of Integrated Greenfield Aluminium project in Odisha which shall include Bauxite Mining, Alumina Refinery, Aluminium Smelter and associated captive Power Plant by its wholly owned subsidiary Mahanadi coalfields Limited.
Prestige Group , India's leading real estate developers, has announced the completion of Prestige High Fields and Prestige Nirvana in Hyderabad. The two strategically designed developments highlight the company's promise that homebuyers will experience a life of unending ease, comfort and splendour.
Phillips Carbon : The Board of Directors of Phillips Carbon Black has approved the closure of Qualified institutions placement. The board approved the allocation of 16,393,442 shares at an Issue price of ₹244 a share, which is at a discount of ₹11.85 or 4.63 per cent to the floor price of ₹255.85 a share.
Future Retail: The Master Franchise Agreement of 2019 executed between Future Retail Limited's wholly-owned subsidiary Future-7 and 7-Eleven INC is now terminated under execution of the Mutual Termination Agreement. The termination has been with mutual consent as Future-7 could not meet the target of opening stores and paying franchise fees. No financial or business impact on the company as this arrangement was at the subsidiary company level.
Fermenta Biotech will be taking a planned partial shutdown of its manufacturing facility at Dahej to carry out the capacity increasing measures for Vitamin D3 crystals from October 5 for an estimated period of 15 days. Following the previous shutdown in April 2019, which was successfully completed to increase capacity of Vitamin D3 intermediates, the current shutdown is being taken for increasing Vitamin D3 crystals' capacity. Post completion, FBL's production capacity of Vitamin D3 crystals will increase by approximately 25%. This initiative is part of FBL's capacity enhancement strategy to meet the expected increase in peak demand for Vitamin D3 crystals under the current circumstances.
Star Housing: The Board of directors of Star Housing Finance Ltd has approved the issuance of 10,61,340 shares at ₹89 a share, for a total consideration of ₹9.446 crore by way of the preferential issue through Private Placement basis by the provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulation 2018.
Ratnamani Metals and Tubes Ltd has received various orders aggregating to ₹144 crore (excluding GST) for supply of Stainless Steel pipes and Carbon Steel pipes from Oil & Gas sector, to be executed in 3 to 8 months.
Raymond Realty has announced the development of 'Grade A' commercial and high street retail space at Thane land spread across 9.5 acres. The company also announced its plans to build premium residential units comprising of 3 & 4 BHK configurations spread across 1 mn. sq. ft. subject to requisite approvals.
Datamatics , a global Intelligent Automation products, Digital Solutions, and BPM company, has introduced Enterprise Productivity Plan to help organizations achieve greater agility, drive digital transformation, and greater productivity by automating repetitive, mundane tasks and document intensive processes.
Arihant Superstructures Ltd plans to raise up to ₹500 crore through issuance of securities. The Mumbai-based firm said the board of directors approved raising up to ₹500 crore by the issuance of securities, it said in a notice to the stock exchanges. The issue of securities could be through private placement, preferential issue, qualified institutions placement (QIP), follow-on public offering, or a combination thereof. The proposed fundraising is subject to shareholders' approval and other regulatory approvals.