Developerinvention

IMPORTANT DATA • Asian Paints: The paint manufacturer has acquired additional 11% equity stake in Obgenix Software (brand name White Teak) for Rs 54 crore, from promoters Pawan Mehta, and Gagan Mehta. The company now holds 60% stake in White Teak, up from 49% earlier and as a result, White Teak has become a subsidiary of Asian Paints. • Axis Bank: The Reserve Bank of India has imposed a monetary penalty of Rs 30 lakh on Axis Bank for violation of credit card rules. • Ipca Laboratories: The US Food and Drug Administration (US FDA) has issued Form 483 with 8 observations for company's Pithampur formulations manufacturing facility in Madhya Pradesh. The USFDA inspected the facility during June 15-June 23, 2023. • Rail Vikas Nigam: The state-owned railway company has emerged as the lowest bidder a project of design and construction of elevated metro viaduct, from Maharashtra Metro Rail Corporation. The cost of project is Rs 394.9 crore and the said project is expected to be executed in 30 months. • Yes Bank: The private sector lender has received board approval for raising funds in Indian/foreign currency up to Rs 2,500 crore via issue of debt securities. • Grasim Industries: The Aditya Birla Group company said the Finance Committee of the Board of Directors has approved the issue of non-convertible debentures on private placement basis, for an amount up to Rs 2,000 crore, in one or more tranches. • Balasore Alloys: The board members have inducted Rajendra Kumar Parakh as additional director till next AGM, and appointed him as Managing Director of the company with effect from June 23, which is subject to shareholders' approval. Akula Nagendra Kumar has resigned as Managing Director of the company with effect from same date. • Cambridge Technology Enterprises: The IT firm has received board approval for acquisition of US-based Appshark Software Inc for Rs 41 crore. Appshark is primarily engaged in salesforce consulting and custom software development. The said acquisition is expected to be completed by March 2026. It also acquired RP Web Apps for Rs 3 crore and the said acquisition is expected to be completed by July 30, 2023. • AU Small Finance Bank: The small finance bank said the board members will meet on June 29 to consider raising of funds by issue of equity shares or debt instruments. The board would also consider convening annual general meeting and fix record date for dividend recommended by the board in April 2023. • Jammu & Kashmir Bank: The Reserve Bank of India has imposed a monetary penalty of Rs 2.5 crore on Jammu and Kashmir Bank for non-compliance with certain directions related to creation of a central repository of large common exposures-across banks. • HDFC Life Insurance Company: The Insurance Regulatory and Development Authority of India (IRDAI) has granted its approval for transfer of shares of HDFC Life, from HDFC to HDFC Bank in view of the proposed amalgamation between HDFC and HDFC Bank. IRDAI also granted approval for HDFC to acquire additional shares in HDFC Life, so the holding to be more than 50% of its total share capital. • Bank Of Maharashtra: The Reserve Bank of India has imposed a monetary penalty of Rs 1.45 crore on the bank for non-compliance with certain provisions related to loans and advances. • Godrej Properties: The real estate developer has acquired approximately 15 acres of land in Gurugram, Haryana through an outright purchase, for the development of premium residential apartments.

June 28

IMPORTANT DATA • HDFC Asset Management Company: SBI Mutual Fund has acquired 3.96% stake in the asset management company through open market transactions on June 20 and raised shareholding to 6.86% from 2.9% earlier. SBI MF was one of buyers for shares in the HDFC AMC sold by promoter entity Abrdn Investment Management. • Tata Consultancy Services: TCS and UK’s largest workplace pension scheme Nest expanded their long-standing partnership to focus on digitally transforming Nest’s scheme administration services, and delivering enhanced member experiences. TCS' digital-first platform powered by BaNCSTM will help transform scheme administration and deliver personalised experience. • Delhivery: Global private equity firm Carlyle is planning to offload about 1.84 crore shares or 2.5% equity stake in the Gurugram-based logistics company in Delhivery via block deals, reports CNBC-Awaaz quoting sources. The floor price for deal may be at Rs 385.50 per share. • NMDC: Life Insurance Corporation of India has offloaded 2.07% stake in the state-run iron ore company via open market transactions in last around three months. As a result, LIC's shareholding in the company reduced to 9.62%, from 11.69% earlier. • LTIMindtree: The technology consulting and digital solutions company launched Canvas.ai, an enterprise-ready generative AI platform designed to accelerate the concept-to-value journey for businesses using mindful AI principles. The platform enables clients to build, manage and consume generative AI solutions responsibly. • NTPC: The country's largest power generation company said the board members will meet on June 24 to consider issue of non-convertible debentures worth up to Rs 12,000 crore. This is subject to approval of shareholders in the ensuing Annual General Meeting. • Kalpataru Projects International: The company said the executive committee of the board has approved the issuance of non-convertible debentures of Rs 300 crore on private placement basis. The coupon rate offered for these NCDs is 8.07% per annum. • Aptus Value Housing Finance India: Madison India Opportunities IV, the private equity fund managed by Madison India Capital Advisors, has sold 80.06 lakh equity shares or 1.6% stake in the housing finance company via open market transactions at an average price of Rs 246.45 per share. The stake sale was amounted to Rs 197.31 crore. As of March 2023, foreign company Madison held 1.86% stake or 92.6 lakh shares in Aptus. • Sula Vineyards: Quant Mutual Fund has acquired additional 5 lakh shares or 0.59% equity stake in the country's largest wine manufacturer via open market transactions at an average price of Rs 470.99 per share. However, Karishma Singh was the seller in a deal, offloading same number of shares at an average price of Rs 471 per share. Quant Mutual Fund via Quant Quantamental Fund held 21.03 lakh shares 2.5% stake in Sula as of March 2023. • Mas Financial Services: The board has given its approval for re-appointment of Kamlesh C Gandhi as the Managing Director of the company effective from April 1, 2024 up to March 31, 2029. Narayanan Sadanandan is appointed as an Additional lndependent Director of the company for 5 years. • Shriram Finance: Six investors Government of Singapore Investment Corporation Pte Ltd AC C Account, Ghisallo Master Fund LP, BNP Paribas Arbitrage ODI, Blackrock Global Funds World Financials Fund, Societe Generale ODI, and New World Fund Inc acquired 2.01 crore equity shares or 5.38% stake in the non-banking finance company via open market transactions at an average price of Rs 1,545 per share, which amounted to Rs 3,112.11 crore. However, Piramal Enterprises was the seller as it exited Shriram Finance by selling entire 8.34% stake or 3.12 crore shares at same price. The stake sale was worth Rs 4,823.71 crore. • Thyrocare Technologies: Europe-based financial services group Societe Generale has bought 2.96 lakh shares or 0.56% equity stake in the diagnostic and preventive care laboratories chain at an average price of Rs 527.93 per share. • Kamdhenu Ventures: Foreign

IMPORTANT DATA • Shriram Finance: Piramal Enterprises is likely to sell the entire 8.34% stake or 3.12 crore shares in Shriram Finance through block deals, reports CNBC-TV18, quoting sources. The floor price is likely at Rs 1,483 per share, a 5% discount to closing price on June 20. Morgan Stanley is the broker for this deal. • HDFC Life Insurance Company: The Competition Commission of India (CCI) has approved proposed combination involving acquisition of additional shareholding of HDFC Life Insurance Company by Housing Development Finance Corporation (HDFC). The proposed combination involves the acquisition by HDFC of certain additional shares of HDFC Life through one or more market purchases via exchanges such that HDFC and the merged entity, i.e. HDFC Bank (after the effective date of the proposed merger of HDFC into HDFC Bank) will hold more than 50% stake in HDFC Life in accordance with Indian banking laws. As of March 2023, HDFC holds 48.65% stake in HDFC Life. • HDFC Asset Management Company: SBI Mutual Fund, Zulia Investments Pte Limited, Smallcap World Fund Inc, and Societe Generale have bought, in total, 99.1 lakh equity shares or 4.64% stake in the asset management company via open market transactions at an average price of Rs 1,873 per share. However, Abrdn Investment Management has exited the company by selling entire 2.18 crore shares or 10.2% stake at same price, which amounted to Rs 4,079.07 crore. • Aptech: Anil Pant, Managing Director & CEO informed the company on June 19 that on account of sudden deterioration of his health, he would be proceeding on indefinite leave with effect from June 20. As an interim measure, the board has constituted an interim committee of certain Members of the board and the senior management of the company to ensure smooth functioning and continuity of operations of the company. The nomination and remuneration committee and the board of directors of the company are taking necessary steps to select Interim CEO. • Shilpa Medicare: The pharma company said the board members will meet on June 23 to consider a proposal of fund raising via Rights issue of equity shares. • Pidilite Industries: The construction and specialty chemicals manufacturer launched its manufacturing facilities under its two joint ventures, Pidilite Litokol (PLPL) and Tenax Pidilite (TPPL), in Amod, Gujarat. Litokol SPA Italy and Tenax SPA Italy have transferred technology to Pidilite as part of the joint venture. This development will strengthen Pidilite's presence in the tile and stone care range. • Rail Vikas Nigam: The company in its clarification note to exchanges said the news with respect to breaking of joint venture between RVNL & Transmashholding (TMH) is factually incorrect. The MoU between both the parties is still valid as none of the parties have terminated the same. The bank Guarantee will be deposited well within the permissible time limits as per the tender condition. Further deliberations on the terms of MoU are underway. • Gujarat Mineral Development Corporation: Hasmukh Adhia, the Principal Advisor to Chief Minister of Gujarat, has been appointed as the Director and Chairman of GMDC with immediate effect. Hasmukh Adhia is a Gujarat Cadre officer of Indian Administrative Services belonging to 1981 batch. • Avenue Supermarts: Dheeraj Kampani has resigned as vice president (Buying and Merchandising) of the company. His last working day with the company would be June 30. • Fino Payments Bank: Rakesh Bhartia has withdrawn his nomination as part-time Chairman of the bank due to his personal reasons and other official commitments. He will continue to hold the position as an Independent Director of the bank. In November 2022, the bank had approved appointment of Rakesh Bhartia as part-time Chairman. • Archean Chemical Industries: Europe-based financial services group Societe Generale has bought 6.42 lakh equity shares in the chemical manufacturing company via open market transactions at an average price of Rs 510 per share. However, Norges Bank on account of the Government Pension Fund