Latest news with #ConvertibleRedeemablePreference
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Business Standard
4 days ago
- Business
- Business Standard
Bharat Forge acquires AAM India Manufacturing for ₹746.46 crore
Defence major Bharat Forge Limited (BFL) acquired 100 per cent stake in AAM India Manufacturing, the company announced in an exchange filing. Pune-based Bharat Forge acquired AAM India Manufacturing at an equity value of ₹746.46 crore. The acquired company has ₹189.48 crore cash on its books, which will be used to support future growth of the company. ''The final equity value is subject to net working capital adjustments as of June 30, 2025'', the company said. AAM India Manufacturing is an axle manufacturer of light, medium and heavy commercial vehicles in India. The company operates major manufacturing facilities in Pune and Chennai, as well as an engineering and development center in Pune. The Competition Commission of India (CCI) had approved the proposed acquisition on April 22, 2024. Bharat Forge is an engineering and manufacturing company, specialising in forged and machined components for the automotive, industrial, and defense sectors. Internal restructuring In June, Bharat Forge Limited had conducted internal restructuring by transferring its defence business to its wholly owned subsidiary, Kalyani Strategic Systems Limited (KSSL). As part of the exercise, Bharat Forge signed an agreement to transfer BFL's certain defence assets to KSSL. This transfer is being executed at fair market value as determined by an independent valuer. In return, KSSL will issue Optionally Convertible Redeemable Preference Shares (OCRPs) to Bharat Forge as consideration for the transaction.
Mint
5 days ago
- Business
- Mint
Stocks to watch: Federal Bank, Bharat Forge, SJVN, Apollo Hospitals among shares in focus today
Federal Bank's board has given the green signal to raise funds of up to ₹ 6,000 crore through a combination of equity and debt instruments. The company announced in a regulatory filing on Monday that it has declared a final dividend of ₹ 15 per equity share for the financial year 2024-25. Reliance Defence has formed a strategic alliance with US-based Coastal Mechanics to enter India's growing defence maintenance, repair, and overhaul (MRO) and upgrade sector, which is estimated to be worth approximately ₹ 20,000 crore Bharat Forge's board has approved the transfer of its defence business to its subsidiary, Kalyani Strategic Systems, through the issuance of Optionally Convertible Redeemable Preference Shares (OCRPs) valued at ₹ 500 crore. SJVN's subsidiary, Green Energy, has commenced commercial power generation of an additional 100.02 MW from its 1,000 MW solar project located in Bikaner, Rajasthan, starting Monday. Apollo Hospitals has announced a significant restructuring initiative, which includes the approval of a demerger, several mergers, and the separate listing of Apollo Healthtech. The Navratna Defence PSU has announced that it has secured new orders totaling ₹ 528 crore since its previous update on June 20, 2025. The company has infused an additional ₹ 285 crore into its subsidiary, Godrej Capital, raising its stake in the firm from 89.48% to 90.89%. Hindustan Copper has entered into a Memorandum of Understanding (MoU) with Coal India to collaborate on the exploration of copper and other critical minerals. According to reports, CG Power has launched its qualified institutional placement (QIP) with an indicative total issue size of ₹ 3,000 crore. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
5 days ago
- Business
- Time of India
Stocks in news: Federal Bank, Apollo Hospitals, JK Cement, HCL Tech, Bharat Forge
Markets began the week on a soft note, slipping nearly half a percent as they took a breather following the recent surge. In today's trade, shares of Federal Bank , Apollo Hospitals , JK Cement , HCL Tech , Bharat Forge among others will be in focus due to various news developments. Apollo Hospitals Apollo Hospitals plans major restructuring, approved the demerger, mergers and new listing of Apollo Healthtech. Kalpataru Projects Kalpataru Projects announced securing new orders worth Rs 989 crore in the power transmission and distribution (T&D) sector. SJVN SJVN arm Green Energy has begun commercial electricity supply of an additional 100.02 MW from its 1,000 MW solar power project at Bikaner in Rajasthan from Monday. Federal Bank Federal Bank board approved fundraising plans through equity and debt instruments up to Rs 6,000 crore Live Events CG Power CG Power opened its qualified institutional placement (QIP), indicative total issue size at Rs 3,000 crore, according to reports. Hindustan Copper Hindustan Copper signed an MoU with Coal India for Copper, critical minerals exploration. Bharat Forge Bharat Forge board approved the defence business transfer to Kalyani Strategic Systems arm via Optionally Convertible Redeemable Preference Shares (OCRPs) for Rs 500 crore ESAF SFB ESAF Small Finance Bank transfered its NPA and technically written-off loans worth Rs 733 crore to an ARC for Rs 73.34 crore. Godrej Industries Godrej Industries raised its take in arm Godrej Capital to 90.89% from 89.48%with an investment of Rs 285 crore. Uno Minda Uno Minda completed the acquisition of 1.69 crore shares (49.90% stake) of UnoMinda EV Systems from FRIWO GmbH for Rs 141.27 crore. HCL Tech HCLTech and OpenAI announced collaboration to accelerate enterprise-scale AI adoption. Ashok Leyland S Mahesh Babu resigned as the CEO of Switch Automotive Mobility with effect from August 31. Ganesh Mani takes additional charge. JK Cement JK Cement declared a final dividend of Rs 15 per share for FY25. Can Fin Homes Can Fin Homes appointed Abhishek Mishra as CFO for three years with effect from June 30.
Business Standard
06-06-2025
- Business
- Business Standard
Deepak Phenotics invests Rs 176 cr in Deepak Chem Tech
Both Deepak Phenotics and Deepak Chem Tech are wholly owned subsidiaries of Deepak NitriteDeepak Chem Tech, a wholly owned subsidiary of Deepak Nitrite has today issued and allotted 1,76,00,000 9% Optionally Convertible Redeemable Preference Shares ('OCRPS'), having face value of Rs 100 each, aggregating to Rs 176 crore to Deepak Phenotics (DPL), another wholly owned subsidiary of the Company. Powered by Capital Market - Live News
