Samvardhana Motherson International, Neogen Chemicals and Hindprakash Industries to see some action today

Samvardhana Motherson Automotive Systems Group B.V., Netherland (SMRP B.V.), a material subsidiary of Samvardhana Motherson International (formerly Motherson Sumi Systems Limited) has acquired additional 1.55% shares of Samvardhana Motherson Reflectec Group Holdings (SMR Jersey) from an independent third party at Euro 18.4 million. After acquisition of aforesaid 1.55% stake, SMR Jersey has become 100% subsidiary of SMRP B.V.

Neogen Chemicals and Livent Corporation have jointly entered into a definitive agreement for Neogen to acquire 100% stake in BuLi Chemicals India (BuLi Chem) from Livent. BuLi Chem owns the technology to manufacture N Butyl Lithium and other organolithium products using lithium metal, which are key reagents for lithiation reaction used in manufacturing of several complex pharmaceutical and agrochemical intermediates. BuLi Chem manufactures and supplies N Butyl Lithium to several leading pharma and agrochemical companies in India and across the world, and is built one of the very few commercial facilities outside of China for this chemistry.

Hindprakash Industries (HIL) has acquired 19,00,000 equity shares of face value of Rs 10 each fully paid up i.e. stake of 19.39% in Orio Shanghai Colours (OSCPL) from Existing shareholder of OSCPL. The consideration of Rs 4.37 crore has been paid in cash for purchase of shares of OSCPL. Further, the company is proposing to purchase another 29,01,980 equity shares (29.61%) each fully paid up, of Orio Shanghai Colours (OSCPL), from the existing shareholders of the company. Post transaction, it will hold 49.00% stake in OSCPL. It is expected to complete the said transaction of acquisition of balance 29.61% stake by June 30, 2023.

Andhra Paper has signed a Memorandum of Agreement (MOA) with the Government of Andhra Pradesh (GOAP) on March 4, 2023 to facilitate investment in the state of Andhra Pradesh in the interest of the economic growth of the state. The GOAP will facilitate and extend necessary support for implementation of the proposed project through single window clearances.

Satin Creditcare Network (SCNL) has successfully completed merger of its wholly owned subsidiaries, Taraashna Financial Services (TFSL), with Satin Finserv (SFL). The decision to merge the two businesses was made to capitalize on the underlying synergies and to develop capabilities that would make the combined entity stronger.

Urja Global has executed a Memorandum of Understanding (MoU) with Government of Uttar Pradesh (UP). The MoU is for the project namely Solar Based charging stations & Electric Car Manufacturing Unit. 

Force Motors has reported the production, sales and export of the products manufactured during the month of February 2023. The company’s production of Small Commercial Vehicles (SCV) & Light Commercial Vehicles (LCV) stood at 1,654 units and Utility Vehicles (UV), Sports Utility Vehicles (SUV) & Tractors stood at 605 units. The company’s domestic sales for SCV & LCV stood at 1,624 units and sales of UV, SUV & Tractors stood at 612 units. The company has exported 220 units of SCV & LCV, while 1 unit of UV, SUV & Tractors exported in month of February 2023.