Quess is separating it’s entire business into three independent entities. Quess Corp Ltd (Current Company): focusing on the core business of Workforce Management Digitide Solutions Ltd (New Company 1): BPM solutions, Insurtech and HRO business For FY23, this segment accounted for 14.49% of the total consolidated revenues of Quess Bluspring Enterprises Ltd (New Company 2): … Read more
Jayadev Galla, Chief of Amara Raja Batteries has been a two-time Member of Parliament for the Telugu Desam Party (TDP). He has announced taking a break from electoral politics to focus on business “without fear of reprisals and attacks”. “It is with a heavy heart that I announce my decision to not contest in the … Read more
Key points related to the buyback are – 4,00,000 equity shares, representing 1.41% of the total shares would be bought back at Rs 10,000/ share i.e, Rs 4,000 crore of total consideration (excluding the associated costs and fees). Company may later decide to increase the buyback price without increasing the total consideration amount of Rs … Read more
In a market cheering, value unlocking move, Aster DM Healthcare (ADHL) has announced segregation of the India and the GCC business. Post-segregation, ADHL will be a focused listed entity holding the India business. The GCC Business will be separated from ADHL to create Aster GCC (AGCC). 100% of the GCC Business will be acquired by … Read more
Eris is acquiring Dermatology and Nephrology branded formulations business units of Biocon Biologics (BBL), a subsidiary of Biocon Limited. The transaction is a Slump Sale Revenues of the acquired businesses for FY 2022-23 was Rs. 90 Cr and Net Worth was Rs. 25 Cr as at March 31, 2023 Transaction value is Rs 366 cr, … Read more
The Company has announced a major greefield capex into setting up a new petrochemical facility at Dahej, Gujarat. The proposed project includes 750 KTPA of Propane Dehydrogenation (PDH) & 500 KTPA of Propylene (PP) plant including propane and ethane handling facility. The project will generate revenue from the sale of polypropylene, propylene, propane, hydrogen and … Read more
AU Small Finance Bank (AU) is acquiring Fincare Small Finance Bank (Fincare) in a 100% share swap transaction. Fincare is a rural microfinance focused business with 15+ years of experience Microfinance is 53.9% of advances, followed by 18.9% Small Business Loans, 14.2% Home Loans, 10.2% Gold Loans and 2.6% others It’s majorly focused on South … Read more
Glenmark Pharma (GPL) is selling 75% stake in Glenmark Life Sciences (GLS) to Nirma. GPL currently holds 82.84% in GLS. Post transaction it would be left with 7.84%. The transaction has been agreed at Rs 615/ share implying an equity valuation of Rs 7,535 cr for GLS. GPL will get Rs 5,651.5 cr for 75% … Read more
SEBI had received complaints dated October 6, 2022 and May 12, 2023 in respect of the preferential allotments made by Brightcom Group (BGL) during FY 20 and FY 21. Such issues totalled Rs 867.78 cr. Complaints were related to – Related party allotments; Siphoning off of the money raised; and Improper disclosures on utilisation of … Read more