ACCELYA KALE SOLUTIONS
We wish to inform you that we have been informed by Accelya Topco Limited (the ultimate holding company of Accelya Solutions India Limited) that the shareholders of Accelya Topco Limited, including Warburg Pincus, have, on 15th November, 2019, entered into an agreement for the sale of the shares and ownership of Accelya Topco Limited to Aurora UK Bidco Limited,
a private company established under the laws of Jersey, which is owned and controlled by Vista Equity Partners ("Vista"), a leading investment firm focused on enterprise software, data and technology-enabled bu.sinesses.
We enclose herewith the letter signed by Mr. John Johnston, the CEO of Accelya addressed to Accelya Solutions India Limited giving the.above information.
Allied Digital Services Limited
Allied Digital Services Limited bags Smart City Project in Aurangabad, Maharashtra Mumbai, November 15, 2019
This is to inform that Allied Digital Services Limited has bagged Smart City project for Aurangabad in consortium with KEC (RPG Group company). The project is expected to be executed in a period of 12 months and operations and maintenance shall run for 60 months. Allied Digital's scope includes setting up of a Command Control Center, Operations Command Center, Smart Bus Stop, ICT enabled Waste Management, City Wi-Fi, Digital Outdoor Display and Kiosks, City Surveillance and Environmental Sensors. Additionally, Allied Digital will also be responsible for setting up of Data Center and Cloud based Solutions.
The Capital expenditure will be realized in 12 months and the operational expenditure over 60 Months. Commenting on the win Allied Digital CMD - Mr. Nitin Shah, says, "With this win Allied Digital has started executing 3 new Smart City projects namely Rajkot ,Bidkin and Aurangabad this year. Safe Harbor: Certain statements made in this release concerning our future growth prospects may be interpreted as forward-looking statements, which involve a number of risks and uncertainties that could cause the actual results to differ materially from those in such forward looking statements. Investors are requested to use their discretion in relying on them. We do not undertake to update any forward- looking statements that may be made
ASHOKA BUILDCON LIMITED
Ashoka Buildcon Limited ("the Company") informs that Ashoka Concessions Limited ("ACL"), a Subsidiary of the Company, had submitted its bid to National Highways Authority of India ("NHAI") for the Project viz. Four laning of NH-161 from Kandi (Design Km 0.000) (Km 498.250 of NH-65) to Ramsanpalle (Design Km 39.980/Existing Km 44.757) (Design Length = 39.980 Km) in the State of Telangana under Bharatmala Pariyojna on Hybrid Annuity Mode.
ACL emerged as "the Lowest Bidder" at the Financial Bid opening meeting held on November 18, 2019.
The quoted Bid Project Cost for the Project is Rs.1,000 Crore.
BOROSIL
This is to intimate you that the Board of Directors of the Company at its meeting held on November 18, 201 9, inter alia have considered and approved the following: i. Stepping down of Shri Bajarang Lal Kheruka as Executive Chairman and Director of the Company and his appointment as Chairman Emeritus with effect from November 18, 201 9;
~i. Appointment of Mr. P. K. Kheruka as Chairman of the Board with effect from November 18, 2019 iii. Appointment of Mr. P. K. Kheruka as Chairman of the Share Transfer Committee, Share Allotment Committee, Corporate Social Responsibility Committee, Investment Committee and Regulatory Committee of Board of Directors of the Company. The Board had also approved re-constitution of Share Allotment Committee. The Board also approved revised Directors report and revised Notice of 561h Annual General Meeting of the Company.
GAYATHRI PROJECTS
Gayatri Pro¡t"cts Limitcd ("GPL" or the "Company"), in line with its staterJ strategy, is pursuinq monelisation of its stake in Sembcorp Enerqy India Limited ("SEIt"). l-he stake sale was being undertaken to improve company's liquidity position; howevr:r, dcspite ils best r:fforts, the Company was not able to fast track the same and as a result lhere was a delay in Company's debt service obligations. The SEIL stake sale has now proqrcsscrl sir¡nificantly and thc Company cxpccts to close thc said |c:al before thr': end of thc currenl calcndar year,
T'he company has macir: lhe necessary requlatory announcement for seeking shareholder approvals for the same. Post the completion of the SEIL deal, GPL will be able to significantly de-leveraqe its balance sheet and overcome its temporary liquidity crunch. Ihe delays in debl obligations, has resullr:rJ in a ratings downgradc by CARE to "D" from lhc earlier rating of "BB r " Thc rating downqradc is furnishcd bclow:
INTELLECT DESIGN ARENA
Intellect Design Arena, a global leader in financial technology for banking, insurance, and other financial services, announced the collaboration with the renowned Cambridge Judge Business School for a prestigious Executive Leadership programme on Digital Transformation by Design in Cambridge, UK. The programme, focused on digital transformation of retail banks has been designed exclusiliely for CEOs, Chief Digital Officers, Retail Banking Heads and CIOs
SUBROS LTD
New Delhi November 18, 2019: Company has been conferred with the Order of the Rising Sun, Gold and Silver Star. She received the prestigious award from the Japanese Prime Minister, Majesty, The Emperor at The Imperial Palace The Order of the Rising Sun was instituted by Japanese Emperor Meiji in the year 1875 and awarded for exceptional services in civil and military fields. She is the first Indian woman to have received the Imperial honour since its commencement for foreign Suri’s contribution to strengthening strategic ties between India and Japan in economic and tourism sectors.
TATA STEEL
Tata Steel outlines proposals for transformation programme to build a stronger and more sustainable business in Europe Tata Steel today (Monday, 18 November) outlined proposals for a transformation programme in Europe. The programme is needed to ensure the business can thrive despite severe market headwinds which have led to a sharp decline in profitability. At the same time, it aims to secure the foundation for investments required to accelerate innovation and the company’s journey towards carbon-neutral steelmaking.
Tata Steel highlighted plans to urgently improve its financial performance to make sure the European business becomes self-sustaining and cash positive, while enabling investment to safeguard its long-term future. The plans include a proposed new way of working to boost productivity and reduce bureaucracy as well as a focus on increasing sales of higher-value steel products and solutions.
Henrik Adam, CEO of Tata Steel in Europe, said: “Today we are highlighting important proposals towards building a financially strong and sustainable European business. We plan to change how we work together to enable better cooperation and faster decision-making. This will help us become self-sustaining and cash positive in the face of unprecedented severe market conditions, enabling us to lead the way towards a carbon-neutral future.”
The programme is focused on four areas to improve financial performance:
▪ Increasing sales of higher-value steels by improving product mix and customer focus;
▪ Efficiency gains by optimising production processes, supported by the application of big data and advanced analytics;
▪ Lowering employment costs, leading to an estimated reduction in employee numbers of up to 3,000 across Tata Steel Europe’s operations, about two-thirds of which are expected to be office-based (‘white collar’) roles;
▪ Reduction of procurement costs through smarter sourcing and strengthening cooperation with companies within the Tata Steel group. Through its proposed transformation programme,
Tata Steel Europe is initially targeting a positive cash flow by the end of its financial year ending March 2021. It is also aiming for an EBITDA margin of around 10% throughout the market cycle. Based on full year 2019 revenue figures, this would equate to £750 million in EBITDA. With improved earnings and cash flows, Tata Steel Europe will be a financially self-sustaining business able to invest in asset reliability and improvements while also servicing its financial obligations to its lenders and shareholders.
A transformation is needed to mitigate the current structural and cyclical headwinds and create the foundation for the company’s future success. Stagnant EU steel demand and global overcapacity have been compounded by trade conflicts which have turned the European market into a dumping ground for the world’s excess steel capacity. Together with a significant increase in the cost of emission allowances, this has created an urgent need for improvements to the company’s financial performance. In the first six months of its current financial year (starting April 2019), Tata Steel Europe reported a drop of 90% in EBITDA to £31 million. Revenue was £3.25 billion. Tata Steel Europe will engage with various stakeholders to ensure compliance with all European and national obligations. -end
TCS
"TCS Launches Microsoft Business Unit to Help Enterprises Accelerate their Business 4.0rM Transformation Journeys" which will be disseminated shortly.
We wish to inform you that we have been informed by Accelya Topco Limited (the ultimate holding company of Accelya Solutions India Limited) that the shareholders of Accelya Topco Limited, including Warburg Pincus, have, on 15th November, 2019, entered into an agreement for the sale of the shares and ownership of Accelya Topco Limited to Aurora UK Bidco Limited,
a private company established under the laws of Jersey, which is owned and controlled by Vista Equity Partners ("Vista"), a leading investment firm focused on enterprise software, data and technology-enabled bu.sinesses.
We enclose herewith the letter signed by Mr. John Johnston, the CEO of Accelya addressed to Accelya Solutions India Limited giving the.above information.
Allied Digital Services Limited
Allied Digital Services Limited bags Smart City Project in Aurangabad, Maharashtra Mumbai, November 15, 2019
This is to inform that Allied Digital Services Limited has bagged Smart City project for Aurangabad in consortium with KEC (RPG Group company). The project is expected to be executed in a period of 12 months and operations and maintenance shall run for 60 months. Allied Digital's scope includes setting up of a Command Control Center, Operations Command Center, Smart Bus Stop, ICT enabled Waste Management, City Wi-Fi, Digital Outdoor Display and Kiosks, City Surveillance and Environmental Sensors. Additionally, Allied Digital will also be responsible for setting up of Data Center and Cloud based Solutions.
The Capital expenditure will be realized in 12 months and the operational expenditure over 60 Months. Commenting on the win Allied Digital CMD - Mr. Nitin Shah, says, "With this win Allied Digital has started executing 3 new Smart City projects namely Rajkot ,Bidkin and Aurangabad this year. Safe Harbor: Certain statements made in this release concerning our future growth prospects may be interpreted as forward-looking statements, which involve a number of risks and uncertainties that could cause the actual results to differ materially from those in such forward looking statements. Investors are requested to use their discretion in relying on them. We do not undertake to update any forward- looking statements that may be made
ASHOKA BUILDCON LIMITED
Ashoka Buildcon Limited ("the Company") informs that Ashoka Concessions Limited ("ACL"), a Subsidiary of the Company, had submitted its bid to National Highways Authority of India ("NHAI") for the Project viz. Four laning of NH-161 from Kandi (Design Km 0.000) (Km 498.250 of NH-65) to Ramsanpalle (Design Km 39.980/Existing Km 44.757) (Design Length = 39.980 Km) in the State of Telangana under Bharatmala Pariyojna on Hybrid Annuity Mode.
ACL emerged as "the Lowest Bidder" at the Financial Bid opening meeting held on November 18, 2019.
The quoted Bid Project Cost for the Project is Rs.1,000 Crore.
BOROSIL
This is to intimate you that the Board of Directors of the Company at its meeting held on November 18, 201 9, inter alia have considered and approved the following: i. Stepping down of Shri Bajarang Lal Kheruka as Executive Chairman and Director of the Company and his appointment as Chairman Emeritus with effect from November 18, 201 9;
~i. Appointment of Mr. P. K. Kheruka as Chairman of the Board with effect from November 18, 2019 iii. Appointment of Mr. P. K. Kheruka as Chairman of the Share Transfer Committee, Share Allotment Committee, Corporate Social Responsibility Committee, Investment Committee and Regulatory Committee of Board of Directors of the Company. The Board had also approved re-constitution of Share Allotment Committee. The Board also approved revised Directors report and revised Notice of 561h Annual General Meeting of the Company.
GAYATHRI PROJECTS
Gayatri Pro¡t"cts Limitcd ("GPL" or the "Company"), in line with its staterJ strategy, is pursuinq monelisation of its stake in Sembcorp Enerqy India Limited ("SEIt"). l-he stake sale was being undertaken to improve company's liquidity position; howevr:r, dcspite ils best r:fforts, the Company was not able to fast track the same and as a result lhere was a delay in Company's debt service obligations. The SEIL stake sale has now proqrcsscrl sir¡nificantly and thc Company cxpccts to close thc said |c:al before thr': end of thc currenl calcndar year,
T'he company has macir: lhe necessary requlatory announcement for seeking shareholder approvals for the same. Post the completion of the SEIL deal, GPL will be able to significantly de-leveraqe its balance sheet and overcome its temporary liquidity crunch. Ihe delays in debl obligations, has resullr:rJ in a ratings downgradc by CARE to "D" from lhc earlier rating of "BB r " Thc rating downqradc is furnishcd bclow:
INTELLECT DESIGN ARENA
Intellect Design Arena, a global leader in financial technology for banking, insurance, and other financial services, announced the collaboration with the renowned Cambridge Judge Business School for a prestigious Executive Leadership programme on Digital Transformation by Design in Cambridge, UK. The programme, focused on digital transformation of retail banks has been designed exclusiliely for CEOs, Chief Digital Officers, Retail Banking Heads and CIOs
SUBROS LTD
New Delhi November 18, 2019: Company has been conferred with the Order of the Rising Sun, Gold and Silver Star. She received the prestigious award from the Japanese Prime Minister, Majesty, The Emperor at The Imperial Palace The Order of the Rising Sun was instituted by Japanese Emperor Meiji in the year 1875 and awarded for exceptional services in civil and military fields. She is the first Indian woman to have received the Imperial honour since its commencement for foreign Suri’s contribution to strengthening strategic ties between India and Japan in economic and tourism sectors.
TATA STEEL
Tata Steel outlines proposals for transformation programme to build a stronger and more sustainable business in Europe Tata Steel today (Monday, 18 November) outlined proposals for a transformation programme in Europe. The programme is needed to ensure the business can thrive despite severe market headwinds which have led to a sharp decline in profitability. At the same time, it aims to secure the foundation for investments required to accelerate innovation and the company’s journey towards carbon-neutral steelmaking.
Tata Steel highlighted plans to urgently improve its financial performance to make sure the European business becomes self-sustaining and cash positive, while enabling investment to safeguard its long-term future. The plans include a proposed new way of working to boost productivity and reduce bureaucracy as well as a focus on increasing sales of higher-value steel products and solutions.
Henrik Adam, CEO of Tata Steel in Europe, said: “Today we are highlighting important proposals towards building a financially strong and sustainable European business. We plan to change how we work together to enable better cooperation and faster decision-making. This will help us become self-sustaining and cash positive in the face of unprecedented severe market conditions, enabling us to lead the way towards a carbon-neutral future.”
The programme is focused on four areas to improve financial performance:
▪ Increasing sales of higher-value steels by improving product mix and customer focus;
▪ Efficiency gains by optimising production processes, supported by the application of big data and advanced analytics;
▪ Lowering employment costs, leading to an estimated reduction in employee numbers of up to 3,000 across Tata Steel Europe’s operations, about two-thirds of which are expected to be office-based (‘white collar’) roles;
▪ Reduction of procurement costs through smarter sourcing and strengthening cooperation with companies within the Tata Steel group. Through its proposed transformation programme,
Tata Steel Europe is initially targeting a positive cash flow by the end of its financial year ending March 2021. It is also aiming for an EBITDA margin of around 10% throughout the market cycle. Based on full year 2019 revenue figures, this would equate to £750 million in EBITDA. With improved earnings and cash flows, Tata Steel Europe will be a financially self-sustaining business able to invest in asset reliability and improvements while also servicing its financial obligations to its lenders and shareholders.
A transformation is needed to mitigate the current structural and cyclical headwinds and create the foundation for the company’s future success. Stagnant EU steel demand and global overcapacity have been compounded by trade conflicts which have turned the European market into a dumping ground for the world’s excess steel capacity. Together with a significant increase in the cost of emission allowances, this has created an urgent need for improvements to the company’s financial performance. In the first six months of its current financial year (starting April 2019), Tata Steel Europe reported a drop of 90% in EBITDA to £31 million. Revenue was £3.25 billion. Tata Steel Europe will engage with various stakeholders to ensure compliance with all European and national obligations. -end
TCS
"TCS Launches Microsoft Business Unit to Help Enterprises Accelerate their Business 4.0rM Transformation Journeys" which will be disseminated shortly.