State Bank of India informed the exchanges that the Executive Committee of the central board is scheduled to have a meeting on May 10, 2022 to examine the status and decide on long term fund raising in single/multiple tranches up to $2 billion through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during FY23.
Wipro Limited and VMware, Inc. have announced an expanded collaboration, bringing together the power of VMware Cross-Cloud services with Wipro FullStride Cloud Services to help global enterprises accelerate app modernisation and make it easier for them to move to the cloud.
Technology solutions company Cyient has completed the acquisition of 100 per cent stake in Grit Consulting, Singapore. The company on April 28 had said that it will acquire Grit Consulting for about ₹283 crore ($37 million). Half of the amount will be paid upfront in cash, while the remaining in earnout, it had said. Grit Consulting has expertise in consulting for asset-intensive industries like metal mining and energy.
Hind Rectifiers Limited has secured orders of ₹57.79 crore in April 2022. The company has all-time pending orders in hand of ₹384.02 crores as on April 30, 2022.
Magellanic Cloud Limited has agreed to acquire 100 per cent shares of IVIS International Private Limited in Share Purchase Agreement(SPA), by way of cash consideration approximate of ₹290,27,93,405. IVIS International is engaged inter alia in the business of providing monitoring and surveillance services by installing cameras or other appropriate equipment and other allied services.
Magellanic Cloud has also agreed to acquire 100 per cent shares of Provigil Surveillance Limited in a Share Purchase Agreement by way of cash consideration approximate of ₹35,97,00,000. The company is engaged in the business of providing monitoring and surveillance services by installing cameras or other appropriate equipment and other allied services.
A meeting of the Board of Directors of Cigniti Technologies Ltd is scheduled on May 18, 2022 to consider and approve to consider and approve a proposal for buy back of fully paid up equity shares of the company.
The board of Baid Leasing and Finance Co Ltd has also approved the issuance of bonus equity shares in the ratio 1:1 i.e, one equity share of ₹2-each for an every equity share of ₹2 subject to the approval of the members. It has also approved the change in the name of the company from Baid Leasing and FInance Co Ltd to Baid Finserv Ltd.
The board of MAS Financial Services Ltd has approved the borrowing of funds by way of issuance of secured/ unsecured non-convertible debentures up to an aggregate amount of ₹1500 crore, in one or more tranches through private placement basis.
The banking and securities management committee of Shriram City at its meeting held on Wednesday, approved the issue of secured rated listed redeemable principal protected market linked non-convertible debentures (PP-MLD) of face value of ₹10 lakh each for an amount of ₹100 crore (“Base Issue size”) with green shoe option upto ₹650 crore aggregating up to 7500 NCDs amounting to ₹750 crore as one or more issuances, in one or more tranches either as fully paid up or partly paid-up on private placement basis.
Piramal Enterprises’ board of directors has approved allotment of 1,000 secured, rated, listed, redeemable principal protected, market-linked non-convertible debentures each having a face value of ₹10,00,000 aggregating to ₹100 crore on private placement basis. These debentures are proposed to be listed on the debt segment and capital market segment of National Stock Exchange of India Limited (NSE) and BSE Limited, respectively, and NSE being the designated Stock Exchange, the company said in a regulatory filing.
Persistent Systems has said the necessary customary closing conditions with respect to the acquisition of MediaAgility Inc., USA and its subsidiaries in the UK, Mexico, and Singapore have been met or waived on May 4, 2022. Consequently, MediaAgility Inc., along with its affiliates has become wholly owned subsidiaries of Persistent Systems Inc., USA, a wholly-owned subsidiary of Persistent Systems Limited, with effect from May 4, 2022.
Prithvi Raj Singh Oberoi has stepped down as Chairman and Director at hospitality major EIH Limited — which owns the Oberoi and Trident branded hotels — effective May 3 on account of his deteriorating health. He was the Executive Chairman since 2002.
IndiGo, the country’s largest domestic carrier, has named Venkataramani Sumantran as its next Chairman. He succeeds Meleveetil Damodaran, who stepped down from the board after turning 75.
Results calendar: Adani Power, Adani Transmission, Dabur India, Marico, Procter & Gamble Health, Indus Towers, Exide Industries, Happiest Minds Technologies, QuickHeal Technologies, Computer Age Management Services, TVS Motor Company, Voltas, Blue Star, Aptus Value Housing Finance India, Cholamandalam Investment and Finance Company, DCM Shriram, AAVAS Financiers, Blue Dart Express, Borosil Renewables, CEAT, Firstsource Solutions, Intellect Design Arena, Jindal Stainless (Hisar), MMTC, Punjab Alkalies & Chemicals, Sona BLW Precision Forgings,Tribhovandas Bhimji Zaveri and PNB Gilts.