In September 2021, SpiceJet had taken shareholders’ approval to transfer it’s cargo and logistics services business to its subsidiary, SpiceXpress and Logistics Private Ltd. (SLP), on a slump-sale basis, for Rs 2,555.77 cr. In it’s board meetings dated February 27, 2023, it has finally fixed April 1, 2023 as the date from which cargo business … Read more
Along with it’s Dec 22 qtr results, Hindustan Unilever (HUL) has decided to increase future royalty payment to the parent, Unilever. Royalty is paid by HUL to Unilever for access to latter’s technology, innovation and global expertise. Current royalty agreement is 2.65% of the turnover. This was fixed in 2013 and the agreement is expiring … Read more
Paytm has announced buyback totalling maximum of Rs 850 crore @ maximum price of Rs 810/ share. Buyback price is at 57% premium to the closing price on December 13, 2022 (before the announcement); It will be an open market buyback; Will be executed over a maximum period of 6 months; Company’s directors and Key … Read more
As per newspaper reports, mobile tower giant Indus Towers (Indus) is learnt to have asked debt-ridden Vodafone Idea (VIL)Â to clear outstanding dues and pay every month on time for continuity of the business post-November. The step is supposedly taken after the independent directors of Indus raised concerns on the mounting receivables from VIL At … Read more
Aditya Birla Fashion & Retail (ABFRL) has announced raising sizeable equity investment from GIC’s affiliate, Caladium Investment Pte. Ltd. Key points to note – GIC is Singapore’s sovereign wealth fund. GIC has committed to infuse a total of Rs 2,195 crore Rs 295 crore upfront equity @ Rs 288.75/ share picking up about 1.07% of … Read more
Marico has acquired 53.98% of HW Wellness Solutions Private Limited, that operates under the brand name “True Elements” (TE). Key points to note – TE operating for last 5-6 years sells products in the healthy breakfast and snack segment. It offers 70+ products including oats, quinoa, muesli, granola, flakes, poha, upma, dosa, roasted seeds, seed … Read more
Key points to note – The facility is coming up at IMT Kharkhoda in District Sonipat, Haryana This is Maruti Suzuki’s (MSL) 3rd facility in Haryana – other two being at Gurgaon and Manesar The Company has got 800 acres of land allotted for this facility from Haryana State Industrial and Infrastructure Development Corporation Limited … Read more
This is what some investors had wanted and that’s exactly what Varroc Engineering Ltd (VEL) has decided. Key announcements – VEL has entered into a definitive agreement with Compagnie Plastic Omnium SE, France to divest its 4-Wheeler lighting business in the Americas and Europe Agreed consideration is an Enterprise Value of EUR 600 mn (approx … Read more
After investing $100 mn (Rs 750 cr) for a minority stake in Blinkit (Grofers) last year, Zomato now approves a further investment upto $150 mn (approx Rs 1,150 cr) into the Company. Key points to note: The subject investment is in the nature of loan to be disbursed in one or more tranches. Rate of … Read more