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26-Mar2019

KPTL, Infibeam Avenues and Amarjothi Spinning Mills to see some action today

Kalpataru Power Transmission (KPTL) through its wholly owned subsidiary -- Kalpataru Power Transmission Sweden AB has signed definitive agreement to acquire 85% stake in Linjemontage i Grastorp AB for an enterprise value of $24 Million.

Infibeam Avenues has acquired 100% Stake of Vavian International, a Company formed and registered in Dubai from Infibeam Global EMEA FZ-LLC, the wholly owned subsidiary of the Company and hence, Vavian International will become direct wholly owned subsidiary of the Company.

Amarjothi Spinning Mills has acquired 7400 equity shares of Rs 10 each in the share capital of Premchander Green energy. The company has acquired the above mentioned equity shares for a cash consideration at Rs 10 per share.

Suzlon Energy has completed sale of securities of SE Solar and Gale Solarfarms held by the Company to CLP Wind Farms and accordingly SE Solar and Gale have ceased to be subsidiaries of the Company. The Company has sold its stake in SE Solar for a consideration of Rs 76.55 crore and the Company has sold its stake in Gale for a consideration of Rs 22.54 crore.

Sun Pharmaceutical Industries has received one observation from US Food and Drug Administration (USFDA) for its Baska manufacturing facility in the state of Gujarat. The USFDA had conducted a pre-approval inspection (PAI) of Baska facility from January 28 to February 5, 2019.

Gujarat State Fertilisers and Chemicals (GSFC) has received approval from Expert Advisory Committee (EAC) constituted by the union environment ministry for expansion of its fertiliser unit in the state of Gujarat for an investment of Rs 8.75 crore.

Newgen Software Technologies has received an approval to incorporate a wholly-owned subsidiary in the country of Australia and to make initial investment up to 1.5 million Australian Dollars in the proposed subsidiary by way of subscribing to its shares. The Board of Directors at its meeting on March 25, 2019, approved the same.


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