In a significant announcement, Anand Group has announced consolidating it’s varied auto ancillary businesses under it’s listed subsidiary Gabriel India (GIL). GIL consequently will transform from a single product Company (suspension parts and shock absorbers) to a multi-product Company (brake fluid, radiator coolants, diesel exhaust fluid (DEF) / Ad-blue for 2W, 3W, 4W and truck … Read more
Prestige Estates Projects (PEPL), one of India’s top five real estate developers, is looking to offer more entertainment and dining spaces in malls while cutting back on apparel retailers. 40% of mall space is targeted towards entertainment and restaurants vs 15-20% currently. Company operates four malls at present. By 2030, it plans to grow to … Read more
VIL’s efforts to revive continue. After recent conversion of equity by Govt, the Company has now petitioned the Supreme Court (SC). Petition is to waive more than Rs 45,000 cr of AGR dues, primarily related to interest and penalties. In addition to the principal amount of Rs 12,797 crore in AGR dues, VIL is liable … Read more
This is further to the ongoing consolidation/ restructuring at Akzo Global. The Indian entity has been in the market to sell its decorative paints business. Now, it’s selling the power coatings business and the R&D centre to the Netherlands-based parent entity. Akzo Nobel N.V. (the parent) will be paying Rs 2,073 crore and Rs 70 … 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
Recently, Supreme Court had dismissed pleas by Indian telecom operators to re-compute Adjusted Gross Revenue (AGR) dues. The companies had sought corrections in the AGR calculations, a penalty reduction, and interest rate adjustments. This resulted in significant implications specifically for Vodafone Idea (VIL), whose burden has now increased to Rs 70,320 cr as of FY24. … Read more
Gujarat Gas has announced a significant scheme of arrangement. It involves reverse merger of Gujarat State Petroleum Corporation (GSPC, unlisted), GSPC Energy (GEL, unlisted), and Gujarat State Petronet (GSPL, listed) into Gujarat Gas (GGL, listed). Additionally, GGL’s gas transmission business will be carved out and listed separately as GSPL Transmission Limited (GTL) on the stock … Read more
Piramal Enterprises (PEL ) has approved it’s merger with wholly owned subsidiary Piramal Capital & Housing Finance (PCHFL). Post merger the the resultant entity will be renamed as Piramal Finance (PFL). Current businesses of PEL and PCHFL PEL is a non-deposit taking Non-Banking Finance Company – Investment and Credit Company (NBFC- ICC), engaged in the … Read more