Indus Towers
Vodafone Group Plc has announced its plan to sell the remaining 3 percent stake in Indus Towers, or 7.92 crore shares, and use the funds for the repayment of $101 million in settling outstanding dues. According to CNBC-TV18 sources, Vodafone Group Plc's units Omega Telecom Holding & Usha Martin Telematics are likely to sell the said stake in Indus Towers, with the offer size ranging between Rs 2,716.9 crore and Rs 2,835.8 crore at the offer price of Rs 343-358 per share. Meanwhile, Indus Towers has released the pledge on 3.003% of shares held by Vodafone promoters in the company on December 4, to enable the relevant Vodafone promoters to execute the sale of such shares.
PG Electroplast
Bharat Forge
The Pune-based forging company has announced the launch of a qualified institutions placement (QIP) book on December 4. The board has set a floor price at Rs 1,323.54 per share. According to CNBC-TV18 sources, the issue size may be up to Rs 1,650 crore.
The board will be meeting on December 10 to consider the issue of bonus shares to the equity shareholders.
The pharma company has entered into an agreement to acquire three anti-diabetes brands: Cospiaq (empagliflozin), Cospiaq Met (empagliflozin + metformin), and Xilingio (empagliflozin + linagliptin) from Boehringer Ingelheim International GmbH (BI). The acquisition is expected to be completed in March 2025. Torrent has been marketing these brands since 2022 as part of an existing co-marketing agreement with Boehringer Ingelheim India.
Dynamic Services & Security
The company has received an offer letter for a mega project from the Maharashtra government to set up a new project for the manufacturing of solar PV panels (1,800 MW) in Raigad. The company has decided on a fixed capital investment of Rs 1,080 crore for the project.
The company has completed the acquisition of a 15% stake in E2E Networks via preferential allotment. The secondary acquisition of 6% from the promoter of E2E Networks is expected to be completed on or before May 30, 2025.
Mastek
Arun Agarwal has resigned as Global Chief Financial Officer of the company, effective December 3.
The company has received an order worth Rs 108.9 crore from
Under the industrial promotion policies of the state governments, the company has been partly reimbursed Rs 80.45 crore against the payment of State Goods and Services Tax (SGST) paid by the company