Industrial Investment Trust : The Board of Industrial Investment Trust has accorded its in-principle approval to accept the offer made by Generali Participations Netherlands N.V. to acquire the entire equity stake of the company of 32.67 crore shares, representing 16.62 per cent of the equity share capital of Future Generali India Life Insurance Company Limited.
Prakash Industries : The Directorate of Enforcement has provisionally attached properties worth ₹227.95 crore. The provisionally attached assets are in the form of land at Hissar, Delhi, Noida and Chhattisgarh. Out of the provisionally attached assets, land worth ₹32.66 crore at Hissar and Chhattisgarh, which is surplus land, is owned by Prakash Industries Limited. The balance provisionally attached properties belong to the Promoter group. As all provisionally attached properties are surplus land, the operations of the company shall remain unaffected. The company is in the process of seeking legal remedy against the said provisional attachment order.
Indo Count Industries : The Board of directors of Indo Count Industries Ltd has approved (i) acquisition of Home Textile business of GHCL, which includes manufacturing facilities at Vapi, Gujarat, on a going concern basis, by way of slump sale and acquisition of specified assets (inventory and intellectual property) of the US subsidiary of GHCL Limited.
The overall consideration for acquisition of Home Textiles Business is ₹539 crore on a debt and cash free basis of which fixed consideration is ₹340 crore and balance ₹199 crore is towards net realisable current assets, subject to certain adjustments in accordance with the Business Transfer Agreement. Additionally, Indo count Global Inc., USA, would be paying ₹37 crore to GHF as a purchase consideration towards the Assets purchased, subject to certain adjustments in accordance with Asset Transfer Agreement.
Wipro Limited and Celonis , the global leader in execution management, have announced the launch of a Supply Chain Command Centre to help organisations drive supply-chain transformation.
HFCL has announced the opening of its qualified institutional placement issue on December 6. The board has approved the floor price for the issue at ₹72.33 a share.
The board of GSS Infotech Limited approves the acquisition of 100 per cent stake in Polimeraas, with a combination of stock and cash. Polimeraas, a farm to store company, is valued at ₹250 crore. The merger of Polimeraas Agros with GSS Infotech will be through a scheme transaction, subject to the approval of the shareholders, stock exchanges and regulatory authorities.
Commercial Engineers and Body Builders Company Ltd (CEBBCO ) has achieved a major milestone by receiving Competent Manufacturer Certification from Indian Register of Shipping, Mumbai (M.H.) and has received an order for supply of ISO Containers from Adani Logistics Services Private Limited and Kribhco Infrastructure Private Limited. The manufacturing facilities are ready and dispatches of the containers to the customers are in progress.
The Board of Directors of Radhe Developers India Ltd has considered and approved, subject to receipt of relevant approvals from regulatory authorities, as may be required, issue of equity shares by way of right Issue to the existing shareholders of the company on a record date for an amount not exceeding ₹800 crore.
Impex Metal & Ferro Alloys Limited successfully switched on one of its two furnaces for manufacturing of ferro-alloys, on December 5, and commercial production is expected later this month. The other furnace is expected to be switched on within the next 30 days.