After three years of acquiring a German Company, Borosil Renewables Ltd (BRL) has decided to give up and has gone ahead and filed for insolvency of the German Company. German operations have been a significant overhang on BRL’s overall financials since its acquisition. BRL’s management attributes the German failure to local macros; flooding by cheap … Read more
Related to the group’s restructuring (ending family feud) in March, is the acquisition of Vadilal Brand from a promoter entity for Rs 1,000 cr. (The ‘Vadilal’ brand is a strategic element of the group’s restructuring plan that was arrived at after the fourth generation of the promoter family reached a truce in March. Three promoter … Read more
After acquiring majority in India Cements, UltraTech has now approved acquiring ~8.69% equity stake of Star Cement. Approval is for 3.7 cr shares @ price/ share not exceeding Rs 235 Total consideration is approved of Rs 851 cr (excluding STT, stamp duty and other levies) Shares are expected to be acquired from Star Cement Promoters … Read more
C.E. Info Systems (MapmyIndia) has made some surprise announcements. Rohan Verma, the CEO and Executive Director of the Company is stepping down from the CEO position to float a new B2C Venture He however, will continue to the Non-Executive Director of MapmyIndia MapmyIndia will provide the following support to the new B2C Venture by Rohan … Read more
Board has in-principally approved to separate the Ice Cream business into a separate listed entity. Ice Cream business includes brands such as “Kwality Wall’s”, “Cornetto” and “Magnum” Decision is not final and is subject to the further evaluation and steps required as per the law. Final proposal for approval will be put in front of … Read more
Zee never surprises you and is always very creative in decision making – especially related to it’s founder management. Founder family continuing to control the operations despite owning just 3.99% of the Company has been a significant point of concern for the investors. Punit Goenka, the MD and CEO, 10 days before the shareholders’ meeting … Read more
Nestle India’s board has approved a staggered increase in royalty payout to the company’s Swiss parent Société des Produits Nestlé S.A. (The Company had in 2019 announced that it would seek approval of it’s shareholders every five years for royalty payments to it’s parent company.) Royalty will increase from current 4.5% of net sales to … Read more
Problems seem to be getting further compounded at the Zee group. A month back only, it’s long awaited mega merger with the Sony group was called off (after 2 years of negotiations). During this period, there were many actions taken by the regulators; especially related to the corporate governance. These actions in fact are speculated … Read more
Whirlpool Corporation, the American parent has sold 24% stake in its Indian entity, Whirlpool of India. Stake has been sold in the open market for a total value of $468 mn. Sale happened at Rs 1,277/ per share, a discount of 4.5% to the previous day’s closing price. Purpose of the sale has been mentioned … Read more