AMAR RAJA BA
Amara Raja Batteries to set up plant for manufacturing two wheeler batteries The board of Amara Raja Batteries in its meeting on 05 November 2012 has approved the expansion/ setting up of a plant for manufacture of two wheeler batteries at total capital outlay of Rs 99.80 crore.
Kotak Mahindra Bank allots equity shares Under ESOP The committee of Kotak Mahindra Bank in its meeting on 05 November 2012 has allotted 2,35,367 equity shares of Rs 5 each, pursuant to exercise of employee stock options under ESOP.
Mafatlal Industries approves share exchange ratio of amalgamation On 05 November 2012 The board of Mafatlal Industries in its meeting on 10 October 2012 had approved in-principle, the proposal of amalgamation of Mafatlal Denim (an unlisted group company) and Mishapar Investments (an unlisted wholly owned subsidiary) with the company with effect from 15 April 2012. The board of the company in its meeting held today i.e., 5th November, 2012 has approved the joint valuation report of Ernst & Young India and SSPA & Co., recommending the share exchange ratio of one fully paid up equity share of Mafatlal Industries to be issued and allotted for every ten equity shares of Rs 10 each held in Mafatlal Denim. Mishapar Investments being a wholly owned subsidiary of Mafatlal Industries, the shares held by Mafatlal Industries in the share capital of Mishapar Investments shall stand cancelled and no shares shall be required to be allotted in lieu thereof. Based on the joint valuation report, the share exchange ratio is as under: 1 fully paid up equity share of Rs 10 each of Mafatlal Industries shall be issued and allotted for every 10 equity shares of Rs 10 each held in Mafatlal Denim. [which will lead to enhancement of equity capital of Mafatlal Industries by 40,99,415 fully paid up equity shares of Rs 10 each.] Since Mishapar Investments is a wholly owned subsidiary of Mafatlal Industries, the shares held by Mafatlal Industries in the share capital of Mishapar Investments shall stand cancelled and no shares shall be required to be allotted in lieu thereof. The amalgamation would result in various synergies in operations, administration, marketing and distribution, branding and retailing etc. Based on the exchange ratio approved by the board, the shareholding of the promoters in Mafatlal Industries post amalgamation would be 75.83% and therefore the promoters have agreed to dilute their shareholding so as to ensure that post amalgamation Mafatlal Industries continues to maintain public shareholding of at least 25% as required by the listing agreement. The board of the company has authorised managing director of the company to do all such acts/deeds as he may deem fit to give effect to the proposed scheme and implement the same.
Piramal Enterprises' board approves scheme of amalgamation On 05 November 2012 The board of Piramal Enterprises in its meeting on 05 November 2012 has approved the scheme of amalgamation and arrangement between PHL Holdings (PHPL) and Piramal Enterprises (the company) and their respective shareholders (the scheme) under Sections 391 to 394 read with Sections 100 to 103 and other applicable provisions of the Companies Act, 1956. PHPL is a company forming part of the promoter group and currently holds 8,40,92,879 equity shares of the company which constitutes 48.73% of the equity shareholding of the company. The main purpose of the scheme is to facilitate a more efficient holding structure by the promoter group. Pursuant to the merger, the equity shares held by PHPL in the company shall stand cancelled, and equivalent number of equity shares of the company will be issued to the equity shareholders of PHPL. There would be no impact on the financials and the shareholding pattern of the company as a result of the merger. The promoters as well as the public will continue to hold the same percentage of equity shares in the company, post merger. The entire cost of the scheme would be borne by the promoters and / or PHPL and the promoters will keep the company indemnified against any liability, if any, arising as a result of this merger. The scheme is subject to requisite consents and approval of the requisite majority of the shareholders, lenders and creditors of the companies, the Hon'ble High Court of Judicature at Bombay and any other statutory or regulatory authorities, which by law may be necessary for the implementation of the scheme.
Pentamedia Graphics appoints director With effect from 01 November 2012 The board of Pentamedia Graphics in its meeting on 05 November 2012 has accepted the resignation of Krish Narayanan from the post of director & CEO and company secretary with effect from 01 November 2012. The board has re-designated V Chandrasekaran as chairman & managing director of the company with effect from 01 November 2012 who is already a director & non executive chairman of the company. The board has approved the appointment of R Kalyanaraman as non-executive/ independent director of the company with effect from 01 November 2012. The board has approved the appointment of A Menaka as company secretary & compliance officer of the company with effect from 01 November 2012.
Rajshree Sugars & Chemicals appoints directors With immediate effect The board of Rajshree Sugars & Chemicals in its meeting on 05 November 2012 has appointed Aditya Krishna Pathy as non-independent non-executive director of the company with immediate effect. Further, the board has appointed B Soundararajan as independent non- executive director of the company with immediate effect.
Rolta makes strategic acquisition of AdvizeX, USA Rolta India has announced the acquisition through its wholly owned subsidiary, Rolta International of AT Solutions Group, LLC, the parent of AdvizeX Technologies, LLC (AdvizeX), a US company that provides total solutions consisting of hardware, software, and specialized advisory and technology services for implementing cutting-edge IT strategies like Cloud computing and Virtual Data Centers. The consideration for this transaction is about US$ 32 million, including escrows and earnouts. The company made this announcement during the trading hours today, 06 November 2012.
Encore Cement and Additives amalgamates with ACC ACC has announced that pursuant to an order dated 05 October 2012 of the Hon'ble High Court of Judicature at Bombay, the company's wholly owned subsidiary company, Encore Cement and Additives was amalgamated with the company. The order has been filed with the Registrar of Companies, Mumbai on 01 November 2012.
Bhagyodaya Infrastructure Development's CFO resigns With effect from 15 October 2012 The board of Bhagyodaya Infrastructure Development in its meeting on 02 November 2012 has accepted the resignation of S R Soni, chief financial officer & company secretary with effect from 15 October 2012.
DCM to consider interim dividend Board meeting on 09 November 2012 The board meeting of DCM will be held on 09 November 2012 to consider and approve the un-audited financial results of the company for the second quarter and half year ended 30 September 2012 and to consider the proposal for payment of interim dividend for the financial year ending 31 March 2013.
Veer Energy gets acquisition proposal at Rs 25 per share In continuation to an offer received from Crown Impex (HK) Co to acquire 24% stake of the company, Veer Energy & Infrastructure has announced that the company has received a revised offer from Crown Impex (HK) Co at a price of Rs 25 per share to acquire 24% stake of the company. As company has already informed them that promoters will not reduce their stake.
Nelco to consider dividend Board meeting on 22 November 2012 The board meeting of Nelco will be held on 22 November 2012 to consider and approve the final accounts for the financial year ended 30 September 2012 and for recommendation of dividend, if any.
ANIL SP STEL
Anil Special Steel Industries' board discusses to sale of land at Kanakpura On 05 November 2012 The board of Anil Special Steel Industries in its meeting on 05 November 2012 has discussed the issue relating to sale of land situated at Kanakpura, P.O Meenawala, Jaipur and pass a resolution in this effect to take a consent of shareholders through postal ballot in order to approve the same in terms of section 293(1) (a) read with section 192A of the Companies Act, 1956 and to shift the existing unit at new location.
BWL to issue equity shares The board of BWL in its meeting on 31 October 2012 has approved the reduction of paid up 6979610 equity shares of Rs 10 each and 2340355 zero dividend redeemable preference shares of Rs 10 each to the extent of 60% consequently reduction in face value per share from Rs 10 to Rs 4 per share and then subdivide into 4 shares of Re 1 each. The board has approved alteration of capital clause in the memorandum for increase in number of shares due to reduction in face value and subdivision of shares. The board has approved the issue of 306100 equity shares of Re 1 each by way of conversion a part of unsecured loan brought by the promoters of Rs 3.40 crore as per direction of the Honorable BIFR.
GMM Pfaudler declares second interim dividend Of Re 0.70 per share The board of GMM Pfaudler in its meeting on 05 November 2012 has declared second interim dividend at the rate of Re 0.70 per share of 1,46,17,500 equity shares of Rs 2 each for the year 2012-13. Further, Ashok J Patel has been re-appointed as managing director for a period of three years with effect from 01 January 2013.
Riga Sugar Company issues convertible equity share warrants The members of Riga Sugar Company have approved to issue, offer and allot upto 14,50,000 convertible equity share warrants to be convertible at the option of the warrant holders within 18 months from the date of allotment into one fully paid up equity share of the company of Rs 10 each at an exercise price of Rs 17.20 (including a premium of Rs 7.20) for each warrant to D G Vitta Vinimay & Properties (11,50,000 warrants) and to Chitravali Barter (3,00,000 warrants). This was approved at the extraordinary general meeting held on 06 November 2012.