Mankind Pharma, MOIL and G R Infraprojects to see some action today

04 Sep 2024 Evaluate

Mankind Pharma has executed the Business Transfer Agreement (BTA) on September 3, 2024 to transfer Over the Counter (OTC) Business Undertaking (defined in the BTA) of the Company as a going concern on a slump sale basis to Mankind Consumer Products (MCPPL), a wholly owned subsidiary of the Company. The completion of slump sale of OTC Business Undertaking to MCPPL is subject to pre-conditions, closing actions and other terms and conditions as specified in the BTA.

With best ever August production of 1.24 lakh tonnes in August, 2024, MOIL sustained its performance momentum. It has achieved production of 7.24 lakh tonne during first five months of the current financial year (April to August 2024), registering a growth of 7% over CPLY. The company has achieved sales of 5.92 lakh tonnes during April-August 2024, which is almost at the same level of last year. This is despite challenging market conditions and high international price volatility over the past few months.

G R Infraprojects has entered into Share Purchase Agreement with REC Power Development and Consultancy (RECPDCL) for acquisition of ‘Tumkur-II REZ Power Transmission’ (TRPTL). After this acquisition, TRPTL has become wholly owned subsidiary company of G R Infraprojects. Cost of acquisition is Rs 6.72 crore.

Texmaco Rail & Engineering has completed acquisition of Jindal Rail Infrastructure (JRIL). As a result of this, JRIL has now become a wholly owned subsidiary of Texmaco. Earlier, the company had entered into definitive agreements with JRIL, and its existing securities holders namely, JITF Urban Infrastructure Services and Siddeshwari Tradex for the acquisition of 100 percent of the share capital of JRIL on a fully diluted basis. The parties have now completed all the conditions precedent and the acquisition of all of the rights, title and interest in all of the securities of JRIL held by the existing security holders of JRIL on a fully diluted basis.

UPL’s step down subsidiary -- Advanta Seeds Holdings UK has acquired Advanta Holdings (Thailand). Advanta Seeds Holdings UK has invested $22,000 in cash. The acquisition has been completed on September 3, 2024. Advanta Holdings (Thailand) is acquired to carry out seeds and related business.

Rudra Ecovation has acquired additional 13.37% paid up equity share capital of Shiva Texfabs by purchasing 4701755 equity shares of Rs 10 each, at a premium of Rs 203.75 per share. Earlier, the company had acquired 7.68% its paid up equity share capital of Shiva Texfabs by purchasing 23,39,181 equity shares of Rs 10 each, at a premium of Rs 203.75 per share. With this, Rudra Ecovation has acquired 7040936 Equity shares representing 20.02% in Shiva Texfabs.

IEX reported a 35.8% year-on-year increase in total trade volume to 12,040 million units in August. The electricity volume rose by 17.1% to 9,914 million units. The renewable energy certificates (REC) market saw a dramatic increase of 737.4% year-on-year, though prices hit an all-time low of Rs 115 per certificate.

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