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Adani Wilmar Ltd on Tuesday said it has acquired basmati rice brand Kohinoor’s India portfolio from McCormick Switzerland GMBH for an undisclosed amount. The company said the acquisition is in line with its focus on growing its presence in the branded staples segment and it is also to open to more acquisitions in the packaged food space. The acquisition will give Adani Wilmar exclusive rights over the “Kohinoor ‘‘ basmati rice along with “ready-to-cook curries” and meals portfolio under the brand umbrella in India.
Mumbai International Airport Limited, a subsidiary of Adani Enterprises Limited has acquired Regency Convention Centre and Hotels Limited for ₹64 crore. “The acquisition is in furtherance of the strategic objectives of the company to undertake investments which provide synergistic benefits to the existing businesses of the Adani Group,” the company said in a statement.
Adani Enterprises has entered into a share subscription agreement for the issuance and allotment of 40,191,038 equity shares at a price of ₹1,915.85 to Green Transmission Investment Holding RSC Ltd. The current principal shareholder of Green Enterprises Investment Holding RSC Limited is UAE’s IHC Capital Holding LLC. The deal is part of the 7.3 billion dirham ($2 billion) investment to be made by IHC in three Adani Group firms.
It will invest ₹3,850 crore in Adani Green Energy Ltd (AGEL), ₹3,850 crore in Adani Transmission Ltd (ATL) and ₹7,700 crore in Adani Enterprises Ltd (AEL). ATL has received executed a share subscription agreement for the issuance and allotment on preferential basis of 1,56,82,600 shares at a price of ₹2,454.95 to Green Transmission Investment Holding RSC Ltd.
AGEL has executed a share subscription agreement for issuance and allotment on a preferential basis of 2,00,18,198 at a price of ₹1,923.25 to Green Transmission Investment Holding RSC Ltd.
In a fresh letter to the Security and Exchanges Board of India (SEBI), Amazon has accused Future Retail and Reliance Industries of being hand in glove in alienating 947 stores under the guise of transferring lease agreements. The eCommerce giant has alleged that Future Retail possibly never took permission from its board to let go of these stores. Amazon has also demanded an investigation. After being dragged into insolvency proceedings by lenders, Future Retail’s Managing Director Rakesh Biyani has stepped down from his position.
Voltas has executed a joint venture with Highly International (Hong Kong) Limited, a wholly-owned subsidiary of Shanghai Highly (Group) Company Limited to engage in the business of design, development, manufacture, marketing, sale and service of inverter compressors for room air-conditioners, motors for inverter compressors, and their associated parts including sourcing of raw materials and components required for manufacturing these products.
RailTel Corporation of India Ltd has received work order from South Western Railway for Design, Planning, Supply, installation, fixing, configuration, integration and commissioning of a secure, reliable, scalable, manageable and converged communication system for over 230 stations over SWR at the total cost of ₹107.44 crore. The entire work shall be completed within a period of 12 months. It has also received work order from Madhya Pradesh State Electronics Development Corporation Limited for acting as System Integrator for Expansion of SDC and Establishment of Disaster Recovery Center for ₹97.64 crore.
Rites Limited has entered into a memorandum of understanding (MoU) with the Indian Institute of Technology Guwahati (IIT-G) to collaborate for improving infrastructure facilities and promoting a multimodal transport system in the North-Eastern region.
The Board of Directors of Panchsheel Organics Ltd have approved the issue of upto 17,51,510 equity shares of the company having face value of ₹10 each on on a preferential basis at ₹170.20. It has also approved the issue of upto 12,00,000 Warrants Convertible into Equity Shares having face value of ₹10 each at ₹170.20 each on a preferential basis.
Sandhar Technologies Limited through its Wholly Owned Subsidiary, Sandhar Engineering Private Limited, has inaugurated its manufacturing facility Phase-1 at Halol, Gujarat and commenced the commercial production of sheet metal and fabrication components/parts from May 2, 2022. The addition of this manufacturing facility will strengthen the company’s presence in Western India, it said.
Jubilant Foodworks Ltd has disbursed the second tranche of investment of ₹3.5 crore and has completed the stake acquisition accordingly in Wellversed Health Private Limited effective May 2 2022. Consequently, the Jubilant Foodworks’ current effective shareholding in Wellversed is 27.81 per cent and it is 25.02 per cent on a fully diluted basis in the manner -4,576 Compulsorily Convertible Preference Shares (CCPS) of face value of ₹10 each at a premium of ₹21,798.30 per CCPS; 10 fully paid-up equity shares of face value of ₹10 each at a premium of ₹21,798.30 per share.
Rajesh Bhan vide his letter dated May 2, 2022 tendered his resignation from the position of Chief Executive Officer (CEO) of Paramount Cosmetics (India) Ltd with immediate effect from May 2, 2022.
Kerry Ingredients India Private Limited and Lactose (India) Limited have mutually terminated their Lactose co-manufacturing contractual relationship.
Evexia Lifecare Ltd has fixed the Record Date to determine the eligibility of members for the purpose of subdivision (stock split) of every one equity share of face value of ₹2 each into two shares of ₹1 each as May 25, 2022.
NCL Research and Financial Services Ltd has fixed the record day as May 9, 2022 for the purpose of rights entitlement for the rights issue of the company.
Time Audio has signed a 11 year music and digital deal with Orient Tradelink Limited. Orient Tradelink Limited had acquired 30 spiritual mantras, 150 talk shows and inspirational videos and 500 talks and 150 music labels from Aum Sportainment Pvt. Ltd.
Result calendar: Kotak Mahindra Bank, Equitas Small Finance Bank, IIFL Wealth Management, Adani Green Energy, Adani Total Gas, Tata Consumer Products, ABB India, CarTrade Tech, Havells India, Bombay Dyeing & Manufacturing Company, Mahindra EPC Irrigation, Satin Creditcare Network, Deepak Nitrite, Laxmi Organic Industries, SIS, Oracle Financial Services Software, Rain Industries, EIH, Aptech, Cigniti Technologies, and MAS Financial Services.
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