Vakrangee, Adani Enterprises, SJVN, VRL Logistics and others in the news today

by MMC
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Rishabh Instruments: The test and measurement instrument maker will debut on the BSE and NSE on September 11. The final issue price has been fixed at Rs 441 per share.

Ratnaveer Precision Engineering: The manufacturer of stainless steel products will list its shares on September 11. The listing date was brought forward from September 14 in line with the IPO schedule. The final issue price is set at Rs 98 per share.

Vakrangee: The technology company has entered into a binding terms agreement with private equity investor Aaviskaar Capital to acquire a 48.5% stake in Vortex Engineering. Vortex is a leading supplier of automated teller machines (ATMs) and has so far shipped over 10,000 ATMs across India, Africa and South Asia, along with software products to complement the ATM hardware automatic. This acquisition will help Vakrangee achieve backward integration.

Adani Enterprises: Adani Global Pte Ltd, Singapore, a wholly owned subsidiary of the Company, has signed a joint venture agreement with Kowa Holdings Asia Pte Ltd, Singapore. They signed an agreement for the sale and marketing of green ammonia, green hydrogen and its derivatives produced and supplied by the Adani Group, in the agreed territory. Meanwhile, promoters Kempas Trade and Investment, Infinite Trade and Investment and PAC (persons acting in concert) purchased another 2.06% stake in the company between August 21 and September 7. As a result, promoter shareholding increased to 71.93% from 69.87% earlier.

Adani Ports and Special Economic Zone: Promoters Resurgent Trade and Investment, Emerging Market Investment DMCC and PAC (persons acting in concert) acquired an additional 2.17% stake in the company between August 14 and September 8. As a result, the promoters’ stake in the company increased to 65.23%. , against 63.06% earlier.

SJVN: Subsidiary SJVN Green Energy signed a power purchase agreement with the Bhakra Beas board for an 18 MW solar power project. The project will be developed on BBMB’s plots in Himachal Pradesh and Punjab. The project is expected to be commissioned by August 2024.

PVR Inox: The multiplex chain announced the opening of a 4-screen multiplex at Smart City Mall in Dharwad, Karnataka. With this launch, the company now operates the largest multiplex network with 1,708 screens across 361 properties in 115 cities (India and Sri Lanka).

Schaeffler France: The manufacturer of high-precision components and systems has acquired 100% of the shares of KRSV Innovative Auto Solutions. The acquisition transaction closed on September 8.

UCO Bank: The public sector lender increased lending rates by 5 basis points across all tenors. The bank revised the marginal cost of funds-based loan rates effective September 10. The other reference rates – pension-related rate, base rate and BPLR – remain unchanged.

Properties of Godrej: Anubhav Gupta has resigned as Managing Director – Vikhroli and Director ESG & Sustainability, with effect from September 9, to pursue opportunities outside Godrej Properties.

IRB Infrastructure Developers: The Mumbai-based highway developer reported toll revenue of Rs 417 crore for August 2023, up 24% from Rs 336 crore in the same month last year. Its wholly-owned subsidiaries, which manage the Mumbai Pune and Ahmedabad Vadodara projects, reported cumulative toll revenues of Rs 198 crore, up 20 per cent during the same period, while joint ventures under IRB Infrastructure Trust, Private InvIT recorded toll revenue of Rs 219. crore in August 2023, up 28% year-on-year.

Distriparks footbridge: Sandeep Kumar Shaw has resigned from his post as CFO and key management of the company, citing personal reasons. Shaw resigned with effect from 28 November.

Coffee Day Businesses: IDBI Trusteeship Services has filed an application against Coffee Day, before the National Company Law Tribunal, Bangalore, under Section 7 of the Insolvency and Bankruptcy Code, for alleged default of Rs 228.45 crore . The Company is seeking appropriate legal advice and will take all appropriate measures to protect its interests in the said matter.

Anlon Technology Solutions: The engineering services provider said board members had appointed Emmyunual Setti Balija as the company’s chief financial officer and key management officer with effect from September 8. Beena Unnikrishnan has resigned from the post of CFO of the company due to personal reasons.

Basilica Fly Studio: The Chennai-based visual effects studio will list its shares on the NSE Emerge on September 11. The listing date was brought forward from September 13 earlier. The issue price has been fixed at Rs 97 per share and the stock will trade in the exchange-for-exchange segment.

VRL Logistics: SBI Mutual Fund purchased 19.29 lakh shares, equivalent to 2.2% of the equity released through open market transactions. These shares were purchased at an average price of Rs 681 per share and were worth Rs 131.36 crore. However, promoter Anand Vijay Sankeshwar sold 35 lakh shares, or 4 per cent stake, at an average price of Rs 681.08 per share.

Jyoti Structures: Investor Follis Advisory LLP offloaded 1.1 crore shares of the turnkey solutions provider through open market transactions, at an average price of Rs 11.05 per share, and 37.23 lakh shares at an average price of Rs 10.97 per share. These shares amounted to 2.3% of the total paid-up equity and were worth Rs 16.25 crore. However, Venkatkrishna Mohan Prabhala was the buyer of some shares, purchasing 35 lakh shares of Jyoti Structures at an average price of Rs 10.89 per share.

Sporting India: The textile company reported a fire in the head office premises. The fire was brought under control on time and no injuries or casualties were reported, but some company records were affected due to this fire.

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