L&T Finance | Private equity major Bain Capital, through its affiliates BC Asia Investment VI and BC Asia Growth Investment, is likely to exit L&T Finance Holdings by divesting its 3.54% stake at a floor price of ₹169.17 per share. This represents approximately 88.2 million shares and is part of a clean-up trade.
Nestle | FMCG major said it will continue to pay royalties to its parent firm at the existing rate of 4.5% of net sales after its proposal to hike it was rejected by shareholders. The company's board approved the continuation of payment of general licence fees at the existing rate of 4.5% to Société des Produits Nestlé S.A. (licensor).
Sobha | Realty firm said it's planning to raise ₹2,000 crore through a rights issue of shares. The company intends to issue 1.21 crore rights equity shares each on a partly-paid basis. An assumption of full subscription and payment of call monies will result in the company fetching ₹2,000 crore.
Whirlpool | Appliance as washing machine maker and Hindustan Unilever announced a new marketing alliance for Surf Excel, the laundry brand of the leading FMCG maker. As per the alliance, both brands will have joint marketing initiatives.
Torrent Pharma | The company said the USFDA conducted a pre-approval inspection and a GMP inspection at its Indrad facility between June 3 to June 12, 2024. At the end of the inspection, the company has been issued a form 483 with five observations. The company said that no observations are related to data integrity.
Dr Reddy's Laboratories | Drug major said it's step down, a wholly-owned subsidiary and Ingenus Pharma, have entered into a license agreement pursuant to which Dr Reddy's USA has licensed from Ingenus, the exclusive rights to commercialise Cyclophosphamide Injection RTD.
Saksoft | The company said it will acquire 100% equity in Augmento Labs in a strategic move to enhance its capabilities and presence in the product engineering space. The total acquisition cost is worth ₹100 crore, which includes an upfront cash consideration of ₹35 crore and the balance as earnout consideration based on performance over two financial years.
PTC India Financial Services | The SEBI has fined Pawan Singh ₹25 lakh and barred him from taking a director's post in a listed company for two years. Pawan Singh is the former MD & CEO of the company. SEBI has also fined Rajib Kumar Mishra ₹10 lakh and barred him from taking a Director's post in a listed company for six months.
Exide Industries | The company has invested a further ₹75 crore through subscription in the equity share capital of its wholly-owned subsidiary Exide Energy Solutions on a rights basis. With this, the total investment made by the company in EESL is now at ₹2,452.24 crore.