IPCA Laboratories is acquiring 33.38% from the promoters of Unichem Laboratories (UL). Promoters before this transaction owned 50.94% of UL. Out of the balance, 9.85% was held by the institutions and 39.21% by the retail investors. Â Transaction is announced @ Rs 440/ share aggregating to Rs 1,034.06 cr. This implies a premium of about 17% … Read more
Camlin Fine Sciences (CFS) currently has a promoter group shareholding of only 17.55%. Balance 38.73% is owned by institutions and remaining 43.72% by public. Of 17.55% promoter, 8.66% is owned by Ashish Dandekar Of 38.73% institutional, 21.1% is owned by Mauritius based long term investor Infinity Group. Both of them have decided to join together … Read more
As per newspaper reports, Sanofi India is working on spinning off it’s consumer healthcare business in India in a separate listed entity. The subject unit’s products include leading anti-allergy brands such as Allegra and Avil, pain management drug Combiflam and Vitamin D brand Depura. The business posted revenue of Rs 1,000-1,250 crore in CY22 (against … Read more
ITC‘s Chairman and MD, Sanjiv Puri has shared the following – Indian FMCG industry will bounce back by volume sales growth from FY24, led by rural demand, with early signs of recovery already visible. concerns around monsoons this year can be a dampener (he didn’t mention it) ITC will accelerate investments across businesses back to … Read more
Crompton had acquired controlling stake in Butterfly last year. For details check here. Currently, Crompton owns 75% stake in the Company, previous promoter group 7.78%, DIIs 5.61% and balance 11.58%Â by public. Crompton has now decided to merge Butterfly within itself. Consequently, there would be only one listed entity i.e., Crompton and other shareholders of … Read more
Mahindra & Mahindra (M&M) is currently undergoing an extensive reorganisation exercise. It recently, Separated out the Passenger EV business Sold stake in the renewable business Partnered Actis to develop warehousing Now it has announced separating out the Last Mile Mobility Business and is also raising external funding in it from IFC. Last mile mobility business … Read more
Ajanta Pharma has announced buyback once more. This is 4th year in a row, previous 3 details can be checked here. Current buyback details are – 22,10,500 shares constituting 1.73% of the outstanding capital Buyback price is Rs 1,425/ share which is at 17% premium to the current market price Rs 315 cr will be … Read more
Mahanagar Gas (MGL) is acquiring 100% of Unison Enviro Private Limited (UEPL). UEPL incorporated in December 2015, is a subsidiary of Ashoka Buildcon. The Company has been supported by Morgan Stanley India Infrastructure fund since pre revenue days. It has been granted authorization from Petroleum and Natural Gas Regulatory Board (PNGRB) to develop City Gas … Read more
Uday Kotak has been leading Kotak Mahindra Bank (KMB) since its inception as a non-banking financial institution in 1985. It became a commercial lender in 2003. He has a net worth of about $13.4 billion. Mr Kotak will transition from his CEO position by the end of next year, after central bank guidelines capped tenures … Read more