Gold ETFs are set to attract attention as investors opt for paper gold purchases on the auspicious occasion of Akshaya Tritiya.
Vodafone Idea shareholders have greenlit a proposal to increase its authorized share capital to ₹1-lakh crore and issue equity shares preferentially to promoter group firm Oriana Investments. According to the scrutinizer’s report from the extraordinary general meeting (EGM) held on May 8, all special resolutions garnered majority shareholder approval, with a negligible percentage of voters in opposition.
Bharti Enterprises, led by Sunil Bharti Mittal, sold shares of ICICI Lombard General Insurance Company for ₹663 crore through open market transactions. Various entities including Axis Mutual Fund, Aditya Birla Sun Life Mutual Fund, and others acquired shares in the Mumbai-based insurer. Bharti Enterprises sold 38.50 lakh shares, representing a 0.8 per cent stake in ICICI Lombard, through nine separate block deals on the BSE.
BLS International Services has inked a contract with the Embassy of Portugal in Morocco for visa outsourcing services in Rabat and Casablanca, with plans to open additional centers in the near future.
Tata Steel has acquired 18,73,493 equity shares of ₹10 each at an issue price of ₹427.01 per share of The Indian Steel & Wire Products Ltd, a subsidiary company, on a preferential basis, amounting to approximately ₹80 crore. This transaction has increased the company’s aggregate equity stake to 98.61 per cent.
Adani Global Ltd Mauritius, a wholly-owned subsidiary of Adani Enterprises, has acquired a 49 per cent stake in UAE-based Sirius Digitech Ltd from Sirius International Holding Ltd.
JMK Holdings Private Ltd, a wholly-owned subsidiary of Signature Global, has completed the purchase of land measuring approximately 5.94 acres in Harsaru, Gurugram, with a potential developable area of around 90,000 square feet.
Route Mobile, a global player in communications platform as a Service (CPaaS), has been acquired by the Proximus Group, a provider of digital services and communication solutions. Proximus Group signed an agreement to acquire 57.56 per cent of Route Mobile through Proximus Opal2 for ₹5,924.40 crore (EUR 643.0 million) cash consideration.
The board of Solara Active Pharma Sciences has approved a ₹450-crore rights issue at a price of ₹375 per share, with shareholders entitled to receive one equity share for every three held as of the record date of May 15. Promoters have committed to subscribe to their portion of the entitlement. The issue will open on May 28 and close on June 11.
Brigade Enterprises announced plans to develop a residential project on Old Madras Road, Bengaluru, with a gross development value of ₹660 crore.
Life Insurance Corporation of India has filed an appeal against an order demanding GST of ₹161.62 crore for FY 2018-19 & 2019-20, along with interest and penalty, before the Commissioner of Commercial Taxes (Appeals), Jamshedpur.
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