HCL Technologies, Ashiana Housing and ITC to see some action today

HCL Technologies (HCL) is aiming to acquire DWS, a leading Australian IT, business and management consulting group. As the IT industry continues to evolve and the growing demand for digital strategies increases, DWS, with over 700 employees and offices in Melbourne, Sydney, Adelaide, Brisbane, and Canberra, delivers business and technology innovation to large clients across a spectrum of verticals. The acquisition of DWS will strongly enhance HCL’s contribution to Digital initiatives in Australia and New Zealand while strengthening HCL’s client portfolio across key industries.

Ashiana Housing is planning to invest around Rs 400 crore over the next four years on new housing projects that it plans to launch during this fiscal year, and is also looking for partnerships with landowners for expansion of its business. The company is also looking for land in Delhi-NCR, Pune and Chennai markets to develop more housing projects for senior citizens as well as normal residences. It wants to add 3-4 projects for normal housing and 3-4 senior living residential projects in joint ventures with landowners.

ITC has acquired, in the second tranche, 1964 Compulsorily Convertible Preference Shares of Rs 10 each of Delectable Technologies. With this acquisition, the company’s shareholding in Delectable Technologies aggregates 20.06% of its share capital on a fully diluted basis. The object of the said acquisition is to strengthen presence of ITC's FMCG products in the emerging distribution channel of vending machines.

Seamec’s wholly owned subsidiary --  Seamec International FZE has incorporated a subsidiary in joint venture with Arete Shipping DMCC under the name and style ‘Seamate Shipping FZC’ in Ajman Freezone, U.A.E., the acknowledgement of the same has been communicated by UAE Authorities on September 17, 2020. Seamate Shipping FZC is newly incorporated subsidiary of the Company in joint venture with Arete Shipping DMCC in the ratio of 60:40, respectively and is yet to commence business.

Vodafone Idea’s pre-paid customers of select plans will be able to access video entertainment platform Zee5 without paying a subscription fee for a year. The annual ZEE5 membership is available with Vodafone Idea data plans with a recharge value of Rs 355, Rs 405, Rs 595, Rs 795 and Rs 2,595. As part of this unique offering, Vi users will get one-year access to the premium bespoke content that ZEE5 has on offer across 12 languages with the 5 Vi prepaid recharge packs.

GOCL Corporation’s UK subsidiary--HGHL Holdings (HGHL) has decided to divest 2,00,000 shares of Quaker Houghton, at a price of $175 per share. The total value of the divestment will be $35 million (around Rs 257 crores at $1 to Rs 73.44) when completed. There will be no tax implication on HGHL under the transaction. The company’s investment in HGHL is GBP 1,00,000. The Board of Directors of HGHL has, at its Meeting held on September 18, 2020, has decided for the same. 

Mangalore Refinery and Petrochemicals (MRPL) has received an approval to raise funds upto Rs 5,000 crore through issue of unsecured non-convertible debentures (NCDs)/ Bonds, through a special resolution. The company’s shareholders in the Annual General Meeting held on September 18, 2020 has approved the same.