GATI LTD
Allcargo acquiring 50% stake in GATI(i) Approved the Share Purchase Agreement ("SPA") between the Company and some of the existing members of the Promoter and Promoter Group of Gati Limited ("Gati") viz. Mr Mahendra Kumar Agarwal, Mahendra Investment Advisors Private Limited and TCI Finance Limited (TCI) and Gati (as confirming party) for acquisition upto 1,03,85,332 Equity Shares at a price of Rs.75/- per Equity Share. This includes 9,67,000 Equity Shares of Gati, which pursuant to the order of the Hon'ble High Court at Kolkata are to be restored to TCI and which would form a part of the SPA, if restored prior to the Completion Date of SPA.
(ii) Approved the Share Subscription Agreement ("SSA") between the Company and Gati and some of the existing members of the Promoter and Promoter Group of Gati viz. Mr Mahendra Kumar Agarwal, Mahendra Investment Advisors Private Limited and TCI Finance Limited (as confirming parties) for subscribing to the preferential issue of 1,33,33,340 Equity Shares of Gati at a price of Rs.75/- per Equity Share, subject to the approval of the shareholders of Gati and such other approvals as may be considered necessary.
(iii) Approved to make public announcement of an open offer for acquisition of 3, 17,42,615 Equity Shares representing 26% of the Paid up Voting Equity Share Capital (post preferential issue and vesting of stock option) of Gati at a price of Rs.75/- per Equity Share, in accordance with the requirement of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011 as amended from time to time.
(iv) Approved issuance of 1,950 Senior, Rated, Secured, Listed, Redeemable, NonConvertible Debentures (NCO) of face value of Rs.10,00,000 per NCO aggregating up to Rs.195 crores on a private placement basis and have delegated the power/authority to the Debentures Issue and Allotment Committee constituted by the Board of Directors, to determine the terms of such issuance and to take all necessary actions in relation to the issuance and allotment of the NCO in one or more tranches, from time to time, to the eligible investors including Foreign Portfolio Investors, Financial Institutions, etc. who are permitted to invest in the NCO under applicable laws.
CADILA HEALTHCARE
Zydus announces regulatory filing of Saroglitazar Magnesium for treatment of NASH with DCGIZydus Cadila, an innovation-driven, global pharmaceutical company, announced that it has filed the NDA of Saroglitazar Mg in Non-alcoholic Steatohepatitis (NASH) with the Drug Controller General of India (DCGI).
NASH is a progressive disease of the liver and a significant unmet medical need. There are currently no treatments available for the treatment of NASH. Starting with fat accumulation in liver, this condition can progress to cirrhosis and liver failure. NASH ranks as one of the major causes of cirrhosis, behind hepatitis C and alcoholic liver disease. Liver transplantation is the only option for managing advanced cirrhosis with liver failure.
“There is a significant need for new therapies for patients with NASH, who have no treatment options as their liver disease progresses, other than opting for eventual liver transplants to survive” said Pankaj R. Patel, Chairman, Zydus group said, “We are very pleased that our NDA filing has been accepted for review which we believe represents an important step towards providing an innovative treatment option for millions of patients suffering from this devastating liver disease."
Saroglitazar Magnesium was launched in India during September 2013, for the treatment of hypertriglyceridemia and diabetic dyslipidemia in patients with type-2 diabetes not controlled by statins. Saroglitazar Mg has demonstrated beneficial effects in NASH animal models. Saroglitazar Mg favorably affects all components of NASH including steatosis, ballooning, inflammation and fibrosis in NASH models. Saroglitazar Mg has previously demonstrated improvement in both liver enzymes along with favorable effects on lipid and glycemic indices in patients with nonalcoholic fatty liver disease in Phase II clinical trials.
Zydus had also achieved positive results in EVIDENCES II Phase 3 biopsy-driven trial of Saroglitazar 4 mg versus Placebo in patients with Non-Alcoholic SteatoHepatitis. The primary endpoint evaluated the histological improvement of NASH using liver biopsy at the end of 52 weeks. Separately, the results of EVIDENCES IV trial of Saroglitazar Mg in patients with NASH were presented as a Late Breaker at The Liver Meeting® 2019, the annual meeting of the American Association for the Study of Liver Diseases.
CANARA BANK
In respect of 27,69,88,576 equity shares allotted to the Government of India, Promoter of the Bank, on preferential basisDCM SHRIRAM
We write to inform that the Company has commissioned 200 KLD distillery at Ajbapur on 3.12.2019. The total capacity of the Company’s distillery after the said commissioning now stands at 350 KLD.GATI
Gati launches itself into the next phase of growth with All Cargo Logistics & Kintetsu World Express, JapanGATI Ltd (NSE: GATI, BSE: 532345) India’s leader in Express Distribution and Supply Chain Solutions, has offloaded a significant equity stake to Allcargo Logistics Ltd. India’s largest integrated logistics solutions provider.
Founded by Mr. Mahendra Agarwal in 1989, Gati pioneered express distribution in India. He is credited as the visionary who heralded the start of the express logistics industry in the country, and built the GATI conglomerate to create a logistics & supply chain solutions powerhouse, tapping into strategic growth verticals over the last 30 years. Today, GATI’s revenues are in excess of Rs. 1,800 crores, with a variety of offerings, spanning from express distribution to 3PL operations. It boasts of some of the largest corporate clientele, across industry verticals, amongst its vast customer base in India.
Mr. Agarwal has been scouting for an established strategic partner who could provide management and operational synergies, and launch GATI into its next growth phase, and build an enterprise so large that it has the scale to benchmark itself with best of global peers in express logistics. GATI found Allcargo Logistics Ltd. (“Allcargo”) an able and competent partner. Allcargo Logistics is the global leader in LCL consolidation through its wholly owned subsidiary ECU Worldwide. Mr Agarwal said, “This alliance strengthens GATI with more management bandwidth, operational synergies, cross-selling opportunities, and financial strength. Further, the alliance between GATI-Allcargo will also help consolidate GATI’s position in the domestic logistics sector by adding capabilities that cover the entire range of logistics functions for its customers, and increase GATI’s revenue potential manifold catapulting Gati+Allcargo to be the No. 1 logistics leader in the Indian subcontinent.”
Kintetsu World Express (KWE) — part of the USS 10.3 Billion Kintetsu Group Holdings, Japan; which entered into a Joint Venture with GATI to form the GATI-KWE subsidiary in 2012, continues to remain strongly invested, and will retain its existing association with GATI.
The change in GATI's shareholding and management control, with Allcargo coming on board as a majority shareholder, will not impact the regular day-to-day business operations in any manner including customers, employees, vendor partners and other stakeholders; and will only help GATI emerge as an even stronger logistics brand in the future.
GREAVES COTTON
Greaves completes acquisition of Ampere VehiclesWith this acquisition, Greaves Cotton strengthens and expands its presence in the e-mobility segment
Greaves Cotton, a diversified engineering company in India, today announced the completion of its acquisition of entire shareholding of Ms Hemalatha Annamalai in Ampere Vehicles Pvt Ltd through secondary purchase, thereby acquiring absolute control in its subsidiary Ampere Vehicles Pvt Ltd. This is part of Greaves’ long-term strategy to strengthen and expand its presence in last-mile e-Mobility space that is seeing significant interest from government and commuters alike.
“Greaves Cotton is looking to leverage its position as the leader in providing last mile solutions by playing a pivotal role in enhancing the pace of India’s transition to electric mobility. Our strategic acquisition of Ampere, one of the leading brands in the personal and last mile mobility electric vehicles segment, is part of a larger vision to helm a renewable-energy revolution in the country. With Ampere’s acquisition, we are now well poised to become one of the fast-growing e2W player in the market.” said Nagesh Basavanhalli, MD and CEO, Greaves Cotton Limited.
Ampere Vehicles is now part of the e-Mobility division of Greaves Cotton, with a significant presence in the Indian electric two-wheeler industry since last 10 years. The brand has efficiently contributed towards a sustainable environment with a range of affordable electric scooters such as Zeal, V-48 LA, Magnus 60, Reo LA and REO Li. These scooters are popular with commuters making a switch from conventional to electric two-wheelers. In June 2019, Ampere became one of the select few EV manufacturers in India to launch high-speed EV two-wheeler ‘’Zeal’’ with FAME II subsidy
Over the last 10 months, Ampere vehicles have grown significant growth in market share and the exclusive outlets selling Ampere electric scooters have gone up from 75 to over 180 (350+ outlets including Greaves retail stores). These numbers continue to grow and sales have seen consistent growth over the last year. This is the result of Ampere's initiatives to introduce Lithium-ion batteries and the Omni-channel approach.
In the next phase of planned initiatives to make Ampere India’s most preferred EV brand, as part of Greaves' company-wide push towards Make in India, the company will continue to innovate towards greater design efficiencies and seek to build strategic partnerships to enable more rapid localization of production and the support ecosystem.
INTELLECT DESIGN ARENA
Liberty Mutual Enhances Commercial Insurance Underwriting through Mastery of Big Data, adding more value to Brokers and BuyersLiberty Mutual’s National Insurance operation – which provides a full range of primary commercial insurance products and services to mid-size and large companies through brokers –is working with Intellect SEEC to harness the power of big data to more proactively identify target opportunities with individual brokers, and develop solutions for customers.
Through the relationship, Liberty Mutual underwriters and risk managers gain automated access to thousands of third-party data sources including, court filings, industry data, government records, and social media content. With deeper insights into risks, underwriters are can rapidly leverage information to better understand risks and create product solutions that help customers better manage their exposures. Intellect SEEC cleans and structures this data to automatically deliver actionable information needed to more quickly identify, underwrite, and service potential accounts.
MAHINDRA & MAHINDRA LTD
This is in furtherance to our letter dated 31_st August, 2019, wherein it was intimated that Mahindra & Mahindra Limited ("the Company") sign�d a Share Subscription Agreement ("the Agreement") for subscribing upto 55% of the Equity Share Capital of Meru Travel Solutions Private Limited ("Meru") in tranches and that after investment of the first tranche in Meru, the Company will have the right to appoint majority of the Directors on the Board of Meru and as such will control the composition of the Board of Directors of MeruConsequently, in terms of Section 2(87)(i) of the Companies Act, 2013, Meru has become a subsidiary of the Company with effect from 5 th December,2019 and the following subsidiary companies of Meru, have in turn, also become subsidiaries of the Company from the said date:
1. Meru Mobility Tech Private Limited
2. V-Link Automotive Services Private Limited
3. V-Link Fleet Solutions Private Limited
MINDTREE LTD
"Mindtree Wins SAFA Best Presented Annual Report Award"NARAYANA HRUDAYALAYA
This is to inform that Narayana Hrudayataya Limited's plan to establish a 130 bedded hospital project in Nairobi, Kenya announced in 2016 could not be proceeded with due to the inability to fund the project by a financial institution partner.NHPL invested in a minority stake in a Mauritian entity, ISO Healthcare, incorporated for the purpose of funding the project with majority ownership being with AHF. ISO Healthcare, in turn, incorporated a company in Kenya named ISO Health Ltd. for implementing the project. ISO Health Ltd. acquired land and was taking steps for.implementing the project, but due to inability of AHF to further fund, the project had to be shelved mid-way
In view of the above, ISO Health Ltd. has decided to dispose the land and return the capital to its shareholder ISO Healthcare and subsequently dissolve the entity (ISO Health Ltd.) after complying with all applicable laws, thereafter, ISO Healthcare shall distribute the available capital to its shareholders which includes NHPL.
The carrying value in the project as per consolidated financials of NH as on 31st March 2019 js Rs.29.38 mi!lion with NH having invested USD 0.662 million in the same. The realisable value from the dlscontinuation of the project is dependent on the amount from the sale of the land held by ISO Health Ltd.
NIRLON LTD
Nirlon Ltd, J.P. Morgan Sign Real Estate Transaction in MumbaiCommercial/IT/ITES office space developer Nirlon Ltd. today signed a long-term leave and license agreement with J.P. Morgan, the global banking and financial services provider, for premium office space at Nirlon Knowledge Park (NKP) in Mumbai
J.P. Morgan will take up approximately 1.15 million sq. ft. of office space that is expected to be delivered by the second quarter of 2021. NKP has a site area of 23 acres and is located on Mumbai’s Western Express Highway in Goregaon. NKP houses some of the top global and Indian corporates with approximately 1.8 million square feet of IT/ITES office space already licensed.
URJA GLOBAL
This is to inform you that our Company is participating in An Electric Vehicle Exposition. EV-EXPO will be a B2B event for attracting dealers, distributors, importers and entrepreneurs who are looking for new business opportunities inECars, E-Scooty, E-Rickshaw, E-Auto & batteries. EV-EXPO is being organized at Pragati Maidan, New Delhi from 20th December, 2019 to 224 December, 2019 offering comprehensive market information, great business opportunities and a platform for networking.“URJA” is also participating in EXPO to provide an opportunity and to showcase the vast range of products.
This will assist us further in developing our market at domestic and international level.
All Stakeholders are invited to meet us at Hall No D3-33A, Pragati Maidan, New Delhi-110001, India
WIPRO LTD
Wipro Launches NextGen Cybersecurity Defence Centre in Melbourne, AustraliaWipro Limited (NYSE: WlT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced the launch of its NextGen Cyber Defence Centre (CDC) in Melbourne, Australia
With the launch of this centre, Wipro aims to make substantial investments to upskill its employees, hire more local resources and generate more than 100 jobs in Melbourne for cyber security specialists. Wipro also plans to launch similar CDCs in other cities in Australia and offer cyber resilience and provide digital protection to large government organizations.
With the launch of this centre, Wipro aims to make substantial investments to upskill its employees, hire more local resources and generate more than 100 jobs in Melbourne for cyber security specialists. Wipro also plans to launch similar CDCs in other cities in Australia and offer cyber resilience and provide digital protection to large government organizations.
The Cyber Defence Centre is the first local shared security operations centre forWipro in Australia and will provide customers with the ability to rapidly expand capacity and run their security operations in compliance with the local data requirements. Wipro's NextGen 2417 Security Operations Centre will assist customers to actively manage their cyber risks by leveraging managed services around threat intelligence, security monitoring and analytics, vulnerability management, incident response and regulatory compliance.