MoneyWorks4Me

Lemon Tree Hotels, Veefin Solutions and JSW Steel to see some action today

13 Aug 2024 Evaluate

Lemon Tree Hotels has opened Lemon Tree Hotel, Noida. This managed hotel is the seventh property of the group in Uttar Pradesh. This welcoming hotel features 40 well-appointed rooms and suites, Citrus Cafe - a multi-cuisine coffee shop, several banquet spaces, fully equipped conference rooms, and other public areas.

Veefin Solutions has acquired 50.99% stake consisting of 50,763 Equity shares of Rs 180.81 each in Infini Systems, a group company, on August 12, 2024. The acquisition aims to carry on the business of developing, providing, marketing & distributing Computer solutions in the field of Web Content Development, Security Solutions, Animation, Geographical Information Systems (GIS), Revenue Accounting, Data Digitization, Back Office Operations and imparting training and management consultancy services in various fields of Ecommerce, Computer Software and Hardware Development, Trading and Manufacturing Computer Hardware and Software products.

JSW Steel has received approval for the acquisition of an economic interest of up to 66.67% in M Res NSW HCC (M Res NSW) by way of subscription to non-voting Class B shares, for an investment of $120 million through the company’s’ wholly owned subsidiary JSW Steel (Netherlands) B.V. The terms of the investment require the company to further invest $50 million in M Res NSW to fund its obligation towards the deferred consideration payable in 2030. The Board of Directors of the company at its meeting held on August 12, 2024 has approved the same. 

Quint Digital has received approval for raising of capital by way of issuance of equity shares and/or equity linked securities by way of Qualified Institutions Placement (QIP) for an aggregate amount not exceeding Rs 250 crore in one or more tranches, subject to the approval of the Members and Regulatory Authority (if any). The Board of Directors of the Company in their meeting held on August 12, 2024, inter-alia considered and approved the same. 

GR Infraprojects has received Letter of Intent (LoI) from REC Power Development and Consultancy dated August 12, 2024 for Establishment of ‘Transmission scheme for integration of Tumkur-II REZ in Karnataka’, through Tariff Based Competitive Bidding Process (TBCB). The project is to be completed within 24 months.

Veerhealth Care has received further export order worth $101680 (around Rs 84 lakh) which contains order of new toothpaste variant. With this order of new variant, Company has acquired orders in all the variants marketed by the client in the US. The said order is to be executed in 3 months.

Barbeque-Nation Hospitality has fully completed the acquisition of 270 equity shares of Red Apple Kitchen Consultancy (Red Apple), a Subsidiary of the Company, in 2 tranches on August 9, 2024 and August 12, 2024. Post the aforesaid acquisition, the shareholding of the Company in the said Subsidiary stands increased to 86.57%.

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