ALEMBIC PHARMA
Alembic Pharmaceuticals announces USFDA Final Approval for Tizanidine Hydrochloride Capsules, 2 mg, 4 mg, and 6 mg.
Alembic Pharmaceuticals Limited (Alembic) today announced that the Company has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Tizanidine Hydrochloride Capsules, 2 mg, 4 mg, and 6 mg. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Zanaflex Capsules, 2 mg, 4 mg, and 6 mg, of Covis Pharma B.V. Tizanidine hydrochloride is a central alpha-2-adrenergic agonist indicated for the management of spasticity. Because of the short duration of therapeutic effect, treatment with tizanidine hydrochloride capsules should be reserved for those daily activities and times when relief of spasticity is most important.
Tizanidine Hydrochloride Capsules, 2 mg, 4 mg, and 6 mg have an estimated market size of US$ 28 million for twelve months ending September 2019 according to IQVIA.
Alembic has a cumulative total of 111 ANDA approvals (99 final approvals and 12 tentative approvals) from USFDA.
BHARTI AIRTEL
Bharti Airtel announces the successful completion of QIP and pricing of FCCB Offering Strong response from marquee Global, Asian and Indian investors, oversubscribed multiple times
Bharti Airtel ("Airtel" or "Company"), India's largest integrated telecommunications company today announced the successful fund raising exercise through completion of Qu=!lified Institutional Placement ("QIP") and pricing of Foreign Currency Convertible Bonds ("FCCBs"). The transaction is the largest dual tranche Equity and FCCB offering ever in Asia-Pacific, the largest QIP by a private sector issuer ever in India and the largest FCCB offering from an India issuer in the last 12 years. The overall allotment is pre-dominantly to long only investors, thereby also ensuring diversification of the shareholder base of Bharti Airtel.
The Company raised USD 2 billion through the QIP route; which saw participation by highly reputed global and Indian investors. The Company accordingly will issue 323,595,505 equity shares of face 'Jalue of Rs. 5 per equity share at a price of Rs. 445 which implies a discount of 1.57% on the SEBI determined floor price of Rs. 452.09 per equity share. Post the QIP issl..e, the holding of promoter and promoter group will be 58.98 % as against 62.70 %
The FCCB offering re-opened the 11dian FCCB market after a 3-year absence of such issuances. The offering was multiple times oversubscribed with very strong demand from several marquee Asian and European funds. The deal was fully upsized to USD 1 billion and priced at the best-end of the yield for the company on the back of strong interest from existing and new investors. The FCCB was priced at a coupon of 1.5% per annum, yield-to-maturity of 2.0% per annum and a conversion premium of 20% above the final QIP price of Rs 445.
The transaction was anchored by several existing and new shareholders. Several of the large Global long only funds, Sovereign Wealth Funds, Domestic Mutual Funds, Multi-strategy Funds and Insuran ~e Companies participated in the offering in sizable quantities. Lo g only investors cOl1prised 80% of the demand for the QIP.
CAPACITE INFRA
Receipt of order from Inteqrated Unit (P.W.) Division worth { 407.16 Crore (excludinq GST) for Construction of Multi-Storev super soecialtv Hospita! Buildinq at Sir J J Hospital Campus Bvculla. Mumbai on EPC (Enoineerinq. Procurement and construction) mode
Capacit'e lnfraprojects Limited, has received order from lntegrated Unit (P.W ) Division for a contract value of t 407.16 Crore (excluding GST) for Construction of Multi-Storey super specialty Hospital Building at Sir J J Hospital Campus on EPC Mode at Byculla, Mumbai.
DEEPAK NITRATE
Acquisition of Industrial Land at Dahei
We wish to inform you that the Company has acquired industrial [and admeasuring around 125 acres situated at lndustrial Phase, GIDC Industrial Estate, Dahej-2, Gujarat for a total consideration of 99.25 crores.
The Company has received transfer order from Gujarat Industrial Development Corporation (GIDC) in its favour in respect of the said industrial land and has paid the entire purchase consideration and other retated charges.
The said industrial tand witt be utilized by the Company for the future growth / expansion ptans of the Company.
L&T CONSTRUCTION
L&T Construction awarded (*Large) contracts for its various businesses
The construction arm of L&T has secured orders from prestigious clients across various Indian states for its varied businesses.
MANGALAM CEMENT
This is to inform you that Waste Heat Recovery (WHR) plant consisting of capacity of 5 .15 MW out of total capacity of 11 MW has been commissioned today and remaining capacity of 5.85 MW are also expected to be commissioned during the current quarter