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Mahindra Lifespace Developers Ltd has entered into the society redevelopment business and has bagged two projects in Mumbai with a revenue potential of ₹500 crore. The company has been “selected as the preferred partner to redevelop two adjacent residential societies in Santacruz West.”
Adani Enterprises Ltd said it will offer ₹20,000 crore worth of shares in a price band of ₹3,112 to ₹3,276 apiece in the follow-on public offer (FPO), slated to open on January 27 and close on January 31. The offer price is at a discount to Wednesday’s ₹3,595.35 closing price of the stock on BSE.
Voting for the resolution of twin Srei companies- Srei Infrastructure Finance Ltd and Srei Equipment Finance Ltd- under the Insolvency and Bankruptcy Code (IBC) will begin on Thursday. SREI has received three compliant resolution plans, which will be voted on by lenders and debenture holders. The voting process will continue for a few days and results are expected to be announced in the first week of February.
Also read: Another bearish opening on the cards for domestic markets
In a relief to Jindal Stainless, insolvency appellate tribunal NCLAT on Wednesday allowed its appeal and set aside the NCLT order, which had permitted rival Shyam Sel and Power Ltd to submit a revised resolution plan for the debt-ridden Mittal Corp Ltd. Earlier, in an order on August 11, 2022, the Mumbai bench of the NCLT had permitted Shyam Sel and Power Ltd to submit a revised resolution plan, even after when the voting of the Committee of Creditors (CoC) of Mittal Corp had already commenced on August 7, 2022.
The board of KDDL has approved a proposal to Buyback Equity Shares of the Company through the Open Market Route at a price not exceeding ₹1,200 a share for an aggregate amount not exceeding ₹21 crore.
The board of Sejal Glass has approved the raising of funds by issue of Equity Shares through Qualified Institutional Placement (QIP) for an aggregate sum not exceeding ₹90 crore.
Post submission of bid for Meenakshi Energy Limited under the Corporate Insolvency Resolution Process under IBC, Vedanta Limited has been declared a successful bidder on January 18. Subsequently, the Board of Directors of Vedanta has approved the acquisition of Meenakshi Energy Limited (“Company or Corporate Debtor”), which is a 1,000MW coal-based power plant in Nellore, Andhra Pradesh.
The board of Aastamangalam Finance Ltd has approved the increase in Authorised capital of the company from ₹10 crore to ₹15 crore. Subject to the approval of the shareholders, the company will issue and allot 52,50,000 shares of face value ₹10 a share at a price of ₹40 to Promoters and Non-Promoters on a preferential basis.
BSE-listed company R&B Denims, a major textile house with the largest vertically integrated textile manufacturing facilities of over 30 million meters capacity of denim, has planned forward integration whereby it will manufacture readymade garments in the denim segment with its own brand name. The company is now India’s Leading Comprehensive Denim fabric manufacturer capable of producing high-width denim up to 85 inches with its recent major expansion in the new world-class technology of Air Jet Looms - Dobby Machines.
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