1 / 11Bharat Forge | The company has approved the launch of its Qualified Institutions Placement (QIP), setting the floor price for the equity issue at ₹1,323.54 per share. The decision, made by the company’s Investment Committee during a meeting on Wednesday, follows prior approval from the Board of Directors and shareholders via a postal ballot.
2 / 11PG Electroplast | The company has approved the launch of its Qualified Institutions Placement (QIP), setting the floor price for the equity issue at ₹705.18 per share. The decision was made by the QIP Committee in a meeting held today, following the approval of the company’s Board of Directors on October 19, 2024, and shareholder approval via a special resolution passed on November 13, 2024.
3 / 11IGL | The company will meet on December 10 to consider a bonus issue of shares. This will be the first instance that the company will be declaring a free share issue for its shareholders. With this, IGL has also become the first among its players to consider a proposal to issue free shares to its shareholders. Neither of its City Gas peers like Mahanagar Gas (MGL) or Gujarat Gas, have earlier issued bonuses to their shareholders.
4 / 11L&T | Infrastructure major said it has successfully completed the acquisition of a 15% stake in E2E Networks Ltd through a preferential allotment. In addition to this, L&T is set to acquire a further 6% stake from the promoters of E2E Networks, with the secondary acquisition expected to be finalised on or before May 30, 2025.
5 / 11Torrent Pharma | Drug firm said it has entered into an agreement to acquire brands Cospiaq (empagliflozin) Cospiaq Met (empagliflozin + metformin) and Xilingio (empagliflozin + linagliptin) from Boehringer Ingelheim International GmbH (BI). The acquisition is expected to be completed in March 2025. Torrent has been marketing these brands since 2022 as part of an existing co-marketing agreement with Boehringer Ingelheim India.
6 / 11Suraj Estate | Realty firm said it has expanded its portfolio with the acquisition of a vacant parcel of land located at Senapati Bapat Marg, Mahim (W), Mumbai. Through its wholly-owned subsidiary, Iconic Property Developers Private Limited, SEDL has purchased the 1,464 square metre (15,758 square feet) plot for ₹101 crore. The full consideration, along with stamp duty and registration charges, has been paid.
7 / 11Mazagon Dock | PSU defence company addressed recent media reports about the potential acquisition of three additional Scorpene-class submarines under Project 75. The company confirmed that commercial negotiations for the project are ongoing but reiterated that it has not received any final communication regarding the matter.
8 / 11Gallantt Ispat | Iron and steel manufacturer announced the receipt of ₹80.45 crore in partial reimbursement under industrial promotion policies of the Gujarat and Uttar Pradesh state governments. The reimbursements are against state goods and services tax (SGST) payments made by the company for its manufacturing operations.
9 / 11Muthoot Microfin | The microfinance arm of Muthoot Pappachan Group said it has implemented its third interest rate reduction this year, lowering lending rates by 25 basis points (bps) for income-generating loans (IGLs) and by 125 bps for third-party product loans (TPPs). With the latest revision, the interest rate for income-generating loans now stands at 23.05%, while third-party product loans will be offered at 22.70%. These revised rates will apply to all loans sanctioned from December 3, 2024.
10 / 11Styrenix Performance | The company said it has scheduled a board meeting on December 9, 2024, to discuss and potentially approve an interim dividend for the financial year 2024-25. The interim dividend, if declared, will be payable to equity shareholders whose names appear on the company’s register of members, or are beneficial owners in depository records. December 17, 2024, is the designated record date.
11 / 11Indus Towers | British telecom company Vodafone will sell a 3% stake in Indus Towers to clear its debt of $101 million or about ₹856 crore and use the residual amount to pay outstanding dues of its Indian venture Vodafone Idea. The transaction is valued at around ₹2,841 crore as per Wednesday’s closing price of Indus Towers stock at ₹358.75 apiece on the BSE.
