Investment firm Verlinvest Asia Pte offloaded 70.42 lakh shares representing 8.34 per cent equity stake of Sula Vineyards and Mousserena LP disposed of 29 lakh shares representing 3.44 pc stake of the Nashik-based wine producer. The shares were sold in a price range of ₹575.47-576.78 apiece. After the latest transaction, Verlinvest Asia Pte has exited the firm by selling its entire stake, while Mousserena LP’s shareholding has declined to 0.22 per cent from 3.66 per cent stake in the firm. Meanwhile, Morgan Stanley Asia Singapore Pte acquired more than 8.65 lakh shares, representing a 1.03 per cent stake in Sula Vineyards for ₹50 crore.

Deepak Fertilisers and Petrochemicals Corporation Ltd has entered into a long-term agreement with Norway’s Equinor for supply of Liquefied Natural Gas (LNG). In a regulatory filing, DFPCL said the a long-term LNG contract will strengthen its value chain from gas to ammonia to various downstream fertilisers, industrial chemicals, and mining chemicals. This end-to-end tie-up will establish a strong long-term foundation for all of DFPCL’s product segments, per the company.

Kotak Mahindra Bank retained its senior executives in key positions, giving them new titles as the lender reshuffled its senior management under a new chief. KVS Manian will be joint managing director from March 1, spearheading the growth of wholesale bank, commercial bank and private banking, according to a statement Monday. He will continue to oversee institutional equities and investment banking businesses. Shanti Ekambaram will be the bank’s deputy managing director, driving growth in treasury and global markets businesses. The announcement comes weeks after Ashok Vaswani joined the bank as its new chief executive officer in January.

Whirlpool of India will be in focus as its promoter Whirlpool Mauritius plans to sell 24 per cent equity through block deal window. The deal size includes a base issue of 15 per cent base size that can be upsized up to 9 per cent, sources told businessline. The floor price of ₹1,230 a share is a 7.5 per cent discount to Monday’s closing price. Goldman Sachs is the sole banker to the deal.

NBCC has informed the exchanges that it won three work orders totalling to ₹369.05 crore. The orders pertain to upcoming infrastructure development works of Rani Lakshmi Bai Central Agricultural University at Jhansi, construction of a single court complex and residential quarter in Telangana and renovation and furnishing of the ICAI Bhawan in Noida.

ONGC said its subsidiary Imperial Energy Ltd will merge five of its step-down subsidiaries - IECL, IENL, RHL, BHL and SAIL with itself. ONGC has seven step-down subsidiaries in Cyprus through IEL. With this move, the total number of step-down subsidiary will be down to three.

The board of Piramal Enterprises will meet on February 22 to consider the issue of secured, rated, listed, redeemable NCDs worth ₹600 crore on a private placement basis.

Related Topics
comment COMMENT NOW