LIC IPO  at Rs 902 to Rs 949

LIC IPO  at Rs 902 to Rs 949

Leave ~ Invest ~ Cheer from the Sidelines ?

On Listing will be  in TOP 5 Market Cap Companies

 

LIC IPO ~ Leave ~ Invest ~ Cheer from the Sidelines ? The Fate of Large-Scale IPOs of recent and earlier past as below would signal Red for LIC IPO  

However, one needs to dive, not too deep though, a bit more before concluding whether the IPO needs to be subscribed too or not

LIC IPO Details

IPO Opening and Closing Date Opening May 4, 2022, ~ Closing May 9, 2022
LIC Implied Value at Rs 949 & US $= Rs 76.50 Rs 6 lakh Crores => US $ 78 Billion
Issue Type Book Built  Full Offer for Sale IPO
Face Value ₹10 per equity share
IPO Price ₹902 to ₹949 per equity share

(Rs 45 Discount to Retail and Employees and Rs 60 to Policyholders)

Market Lot  and Minimum Bid 15 Shares
Equity Rs 6325 crs comprising 632.5 cr shares of FV Rs 10  owned 100% by Government of India
Listing At BSE, NSE
Issue Size is 3.5% of Equity 221,374,920 Eq Shares of ₹10
(aggregating up to ₹21,008.48 Cr)

 

Government of India will hold 96.5% post IPO

LIC Embedded Value Rs 5,39,686 crs as on September 30,2021
NAV/Share Rs 12.68 as on September 30,2021 based on relevant Networth of Rs 8020 crs
EPS Rs 2.38 as on September 30,2021 and Rs 4.70 based on March 2021 Earnings after considering enhanced Equity Capital after Bonus Issues on September 8,2021

 

LIC will be the Fourth or Fifth Largest Market Cap Company in India on Listing

Total BSE Market Capitalisation at closing on Monday, May 2,2022 was Rs 2,65,88,212 crs ( US $ 3.5 Trillion). Interestingly LIC value of its Investments in Listed Equity is @ US 140 b or near 4% of the Market Cap

FY 23 GDP Projected is Rs 25800000 crs =>  US $ 3.4 Trillion .Thus the Market Cap/GDP currently is 1.03 .LIC should  add Rs 6 lakh crores to the Market Cap and this ratio should move up marginally to 1.05

Below are the Top 20 Listed Companies in India by Market Cap as on Monday, May 2,2022 .LIC will be the First Life Insurance Company to feature in this List. Three of the Private Listed Life Insurance Companies are HDFC Life (Mkt Cap Rs 122458 crs at Rs 580), SBI Life Insurance (Rs 108115 crs at Rs 1081) and ICICI Prudential ( Mkt Cap Rs 74553 crs at Rs 519)

LIC on Listing at IPO Pricing will displace HUL from the Fifth Spot and if it lists at over Rs 1025 at  a premium of over 8% on Top Band of Rs 949 it will challenge Infosys for the fourth place .

ANCHOR INVESTORS

LIC IPO Anchor Investor Portion was oversubscribed and on May 2,2022 allocation was finalized of Rs 5627 crs comprising of 59,296,853 LIC Shares at Rs 949 to 123 Institutions of which 71.12 % or 42,173,610 shares have been allocated to 99 Schemes of 15 domestic mutual funds .Top Investors include Government of Singapore Sovereign Funds  and BNP Investments and the whole spectrum of Indian Mutual Fund Houses of SBI, ICICI, HDFC, Aditya Birla ,Axis among others

To attract such Anchor Investors ,SEBI had cut down lock-in of the shares allotted from 90 days to 30 days

Interestingly LIC has Assets under Management which are 1.1 Times the whole Mutual Funds Industry and 17% of GDP   

OUR VIEW

  • By Invading Ukraine in late February 2022,Putin of Russia Put paid to India launching the LIC IPO in March 2022 at over Rs 15 lakh Crores at over 2.5 times embedded value. India has had to settle at 1.1 times embedded value at Rs 6 lakh crores at Rs 949 Top end of the IPO Price Range . In a sense Russia invaded LIC too ! It more than halved the value !
  • LIC was desperate to list ~ Not a bad thing as instead of Rs 2000 to 2200/share it’s coming in a lower band of Rs 902-Rs 949  and indicates a positive listing as Feb 2022 Grey Market Premium  was – Rs 50 is now it’s + Rs 50
  • On Embedded Value, the Bigger the Company you are, the lower will be the Value/Embedded Value Multiple. Market Leader (yet over 60% Market Share 22 years after 2000 when Private Players were allowed into the sector)  LIC’s  IPO is at 1.1 times while Domestic Peer Group Multiples are all over 2. The Largest Global Life Insurer, Ping of China is at 0.55.
  • Interestingly the LIC embedded Value was under half a lakh crs and One Lakh crs end FY 20 and FY 21 respectively. On change in basis ,it surged to Rs 5.4 lakh crores as on September 30,2022.Other Indian Listed Life Insurance Companies have an embedded value below Rs 35000 crs   
  • LIC should have the largest Shareholder Base in India with over 5 m shareholders expected . Reliance Power has 3.57 m shareholders (Record 4 m in January 2008 on listing ) while Reliance Industries has 3.33 m as on March 31,2022
  • Govt stake will be 96.5 % post IPO and further Issues after a Year will follow
  • LIC will in due course be introduced into the Sensex and Nifty and F & O ~ It will be in Large Institutional and MF Portfolios

SO, SHOULD LIC IPO BE SUBSCRIBED TO ?

If  as an Equity Investor ,you wear Patriotism strongly on your Sleeve then LIC IPO must be a ‘Subscribe’ So should be the ‘I’ Invest in LIC

Otherwise ask these two Questions :

  1. Will LIC give Gains on Listing ?

If it’s a ‘Yes’ for You as Grey Market Premium indicates and there should be a healthy allotment too even if the IPO is oversubscribed , then Stag Subscribe (Sell to book 5% to 10% gains on Listing).

Our View is that Gains are indicated on Listing . So should be the ‘I’ Invest in LIC

  1. Will LIC be a great Core Compounder in the coming decade ?

If it’s a ‘Yes’, then Subscribe ~ Unsure ,then await Listing and then take a call later in 2022  .Of Course if you subscribe and are allotted ,you can also add further ,especially if the LIC Price drops below IPO Price in the coming months.

Our View for the Longer term is  you need to decide, like you do for any other potential selection, if LIC needs to be there in your Direct Equity Core Portfolio. Of Course, LIC should be a Compounder ,however how healthy remains to be seen.  In our View, at this juncture LIC is not as strong a contender for Direct Core when you already have other clearly established Core Selections with better Compounding potential. So should be ‘L’ Leave and ‘C’ Cheer from the sidelines  in LIC  

Interesting Extracts from the Draft Red Herring Prospectus filed with SEBI first on February 13,2022 form part of this SCRIP STANDPOINT in the pages that follow

Cheers,

Gaurav Parikh, Managing Director

[email protected] +9820162597

Interesting Extracts from the Draft Red Herring Prospectus filed with SEBI on February 13,2022

Disclosure & Disclaimer

Jeena Scriptech Alpha Advisors Pvt Ltd (JSAAPL) is a SEBI Registered Entity offering Fundamental Direct Equity Research Analysis, Equity Portfolio Advisory, Training & Mentoring Services in Capital Markets

This Report is under our free access SCRIP STANDPOINT Module.It is for the personal information of the recipient/reader. We are not soliciting any action based upon it. This report is not to be construed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction. It is our Viewpoint for general information purposes only. It does not take into account the particular investment objectives, financial situations, or needs of individuals & other entities .We have reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable though its accuracy or completeness cannot be guaranteed. Neither JSAAPL, nor any person connected with it, accepts any liability arising from the use of this document. The recipients of this material should rely on their own investigations and take their own professional advice. Opinions expressed are our current opinions as of the date appearing on this material only. No part of this material may be duplicated in any form and/or redistributed without JSAAPL’s prior written consent. In case you require any clarification or have any concern, kindly write to us at: [email protected]

Daily Bulletin (29th April, 2022)

Daily Bulletin (29th April, 2022)

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220429-53

 

Scrip code : 507525

Name : Amrit Corp Limited

Subject : Corporate Action-Updates on Delisting

We have received outcome of Reverse Book Building Process under Regulations 17(3) of the SEBI Delisting Regulations from the Manager to the Delisting Offer, M/s Inga Ventures Pvt. Ltd., Mumbai, vide their letter dated April 29, 2022 addressed to BSE Ltd. with a copy to us.

 

Scrip code : 532853

Name : Asahi Songwon Colors Ltd.

Subject : Intimation Of Incorporation Of A Wholly-Owned Subsidiary Company

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Asahi Songwon Colors Limited has informed the exchange that the Company has incorporated a wholly-owned subsidiary namely Atlas Life Sciences (India) Private Limited.

 

Scrip code : 532368

Name : BRIGHTCOM GROUP LIMITED

Subject : Brightcom Opens An Office In Berlin, Under The Leadership Of Daria Oshry

This is to inform all our stakeholders that Brightcom has opened an office in Berlin, in line with its focused growth strategy for the EU region. With this, the company now has 25 offices worldwide. The Berlin office will be led by Daria Oshry, VP of Publisher Solutions for Brightcom. She has been in various roles within the company, from being the team lead of video advertising to Head of display advertising to the current role of Vice President in managing broader publisher solutions for Brightcom”s clients. Berlin is the centre of innovation and digital technology in Germany. Opening an office in the capital is logical for a group like Brightcom in two ways. One is to soak up the technology and creative energies in Berlin. Two is to be able to enhance business development efforts in the great EU area. The added benefit is that Berlin is Germany”s tech capital and a strong magnet for talent worldwide.

 

Scrip code : 530343

Name : Genus Power Infrastructures Ltd

Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release

Investor Release titled ‘New order from State Utility of Rs.828.57 Crores (net of tax).’

 

Scrip code : 538567

Name : Gulf Oil Lubricants India Limited

Subject : Extinguishment Of 14,16,667 Fully Paid-Up Equity Shares Of The Face Value Of Rs. 2 Each Of Gulf Oil Lubricants India Limited Consequent To Completion Of The Buyback Through The Tender Offer Route

In accordance with the provisions of Reg 11 & 24(iv) of the SEBI(Buy-Back of Securities) Reg, 2018 (‘SEBI Buy Back Regulations’), we would like to inform you that the Company has extinguished 14,16,667 Equity Shares consequent to completion of the buy back through the tender offer route. The capital structure of the Company pre and post buy back and the shareholding pattern of the Company, prior to the Buy Back (as of the Record Date, being Monday, February 21, 2022) and post the completion of the Buy Back are enclosed alongwith the below: i. Certificate pursuant to Reg 11 (iii) of the SEBI Buy Back Regulations certifying compliance as specified under Reg 11 (i) of the SEBI Buy Back Regulations. ii. Debit confirmation on extinguishment of 14,16,661 Equity Shares from Central Depository Services (India) Limited. iii. Confirmation from KFin Technologies Limited, Registrar to the Buyback on 6 (Six) equity shares destroyed in physical form. This is for your information and records.

 

Scrip code : 959586

Name : Mahindra & Mahindra Ltd.

Subject : Announcement under Regulation 30 (LODR)-Scheme of Arrangement

Effective Date of Scheme of Merger by Absorption of Mahindra Engineering and Chemical Products Limited, Retail Initiative Holdings Limited and Mahindra Retail Limited with Mahindra and Mahindra Limited and their respective Shareholders.

 

crip code : 543364

Name : Markolines Traffic Controls Limited

Subject : Intimation To BSE Under Regulation 30 Of SEBI (LODR) Regulations, 2015 Of Submission Of The Bid To Acquire The Shareholding Of IL&FS And IFIN In The IL&FS Engineering And Construction Company Limited (“IECCL”)

This is to inform you that a bid (“Bid”) had been placed by Markolines Pavement Technologies Limited (formerly, known as Markolines Traffic Controls Limited) (“Markolines”) to acquire the shareholding held by Infrastructure Leasing and Financial Services Limited (“IL&FS”) and IL&FS Financial Services Limited (“IFIN”) in IL&FS Engineering and Construction Company Limited (“IECCL”) in a Consortium. (“Consortium”). Under Regulation 30 of SEBI (LODR) Regulations, 2015, Markolines is hereby intimating BSE that the Bid submitted by the Consortium has received acceptance from IL&FS, and as per the resolution process, the Swiss Challenge Method has now been initiated for inviting counter bids. The consummation of the transaction shall be subject to the outcome of the Swiss Challenge Method and other necessary approvals, as may be required, from statutory authorities and non-statutory stakeholders including the Hon’ble NCLT. We request you to take the aforesaid on records.

Daily Bulletin (20th April, 2022)

Daily Bulletin (20th April, 2022)

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220420-69

Scrip code : 500009

Name : Ambalal Sarabhai Enterprise Ltd.,

Subject : Announcement Under Regulation 30 – Updates

We wish to inform you that CoSara Diagnostics Private Limited, a Joint Venture of a subsidiary of Ambalal Sarabhai Enterprises Limited and Co-Diagnostics, Inc, Salt Lake City, Utah, USA recently got permission to manufacture and sell its SARAQ™ Hepatitis C (“HCV”) Viral Load Kit as an in vitro diagnostic (“IVD”) from CDSCO. Please take on your record and oblige.

 

Scrip code : 511716

Name : Escorts Finance Ltd.

Subject : Updates on Open Offer

Morgan Stanley India Company Pvt Ltd (“Manager to the Offer”) has submitted to BSE a copy of Detailed Public Statement in terms of Regulation 4 and Regulation 5(1) read with Regulation 13(4), Regulation 14(3), Regulation 15(2), and other applicable regulations of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended, to the Public Shareholders of Escorts Finance Ltd (“Target Company”).

 

Scrip code : 512161

Name : SECUREKLOUD TECHNOLOGIES LIMITED

Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release

Healthcare Triangle Inc., USA, a step-down subsidiary of SecureKloud Technologies Limited announced that it has achieved HITRUST Risk-based, 2-year Certification to Manage Risk, Improve Security Posture, and Meet Compliance Requirements. The details of the same is enclosed with this letter. Kindly take the above information on record as compliance with applicable regulations of SEBI Listing Regulations, 2015.

 

Scrip code : 519216

Name : Ajanta Soya Limited

Subject : Corporate Action-Outcome of Sub division / Stock Split

This is in furtherance to our letter dated 15th April, 2022, we wish to inform that the Board of Directors of the Company at its meeting held today i.e. 20th April, 2022, has inter alia considered and approved the following matters: a) Alteration in the capital of the Company by sub-division/split of existing equity share of the Company from one equity share having face value of Rs. 10/- (Rupees Ten only) each, fully paid-up into five (5) equity shares having face value of Rs. 2/- (Rupees Two only) each fully paid-up, and consequent alteration in the capital clause (Clause V) of the Memorandum of Association of the Company, subject to the approval of shareholders and other competent authorities. b) Alteration of the Object Clause of the Memorandum of Association of the Company (MoA). This is for your information and record please.

 

Scrip code : 523642

Name : PI Industries Limited

Subject : Announcement under Regulation 30 (LODR)-Updates on Joint Venture

Termination of the JV Agreements between PI Industries Limited and Polymath Holding LLC.

 

Scrip code : 531494

Name : NAVKAR URBANSTRUCTURE LIMITED

Subject : Corporate Action-Intimation of Sub division / Stock Split

Pursuant to Regulation 30 read with Schedule III and 42 of the SEBI (LODR) Regulations, 2015, this is to inform you that the Board of Directors of the Company at its meeting held today has inter alia: 1. Approved the Sub-Division/ Split of existing 1 (One) equity share of face value of Rs. 10/- each fully paid up into 5 (Five) equity shares of Rs. 2/- each fully paid up, subject to the approval of shareholders of the Company. 2. Approved consequential alteration of the Capital Clause of Memorandum. 3. Approval for appointment of PCS Rupal Patel as Scrutinizer 4. Approved to conduct the Postal Ballot for the purpose of taking approval of the Shareholders for the following matters, Sub-division/ Split of equity shares, Alteration of Share Capital Clause i.e., Clause V of the Memorandum of Association of the Company 5. Approval of the draft notice to be sent to shareholders and calendar of events pursuant to proposed postal ballot.

 

Scrip code : 532548

Name : Century Plyboards (India) Ltd.

Subject : Announcement under Regulation 30 (LODR)-Acquisition

Further to our letter dated 4th April, 2022, with respect to proposed incorporation of a Wholly owned Subsidiary Company, we hereby inform you that the Company has incorporated a wholly owned Subsidiary by the name ‘Century Ports Limited’ at Kolkata on 20th April, 2022 for carrying out the project for rejuvenation of Khidderpore Docks (KPD-I West) through PPP mode on Design, Build, Finance, Operate and Transfer (DBFOT) basis at Syama Prasad Mookerjee Port, Kolkata. The details as required under Regulation 30 of the SEBI LODR read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 are given in the attached letter.

Daily Bulletin (19th April, 2022)

Daily Bulletin (19th April, 2022)

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220419-40

 

Scrip code : 500493

Name : Bharat Forge Ltd

Subject : Announcement under Regulation 30 (LODR)-Updates on Acquisition

Acquisition update regarding Avaada MHVidarbha Private Limited.

 

Scrip code : 526717

Name : HCP PLASTENE BULKPACK LIMITED

Subject : Intimation Of Commencement Of Commercial Production

Pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the company has commenced Commercial Production on 18th April, 2022 at Unit II located at Plot 828, Ambica Industrial Estate, Rakanpur, Ahmedabad, 382921 Gujarat, India. You are requested to take note of the same.

 

Scrip code : 504176

Name : High Energy Batteries (India) Ltd.,

Subject : Corporate Action-Intimation of Sub division / Stock Split

We wish to inform you that a Meeting of the Board of Directors of the Company will be held on Saturday, the 7th May, 2022, inter alia, to consider, Alteration in the nature of the Equity Shares i.e. to Sub – divide existing Equity share of Rs.10/- (Ten) each; Alteration in the Object Clause, Capital Clause of Memorandum of Association and Adoption of Articles of Association in conformity with the provisions of the Companies Act,2013 and among other subjects.

 

Scrip code : 506222

Name : INEOS Styrolution India Limited

Subject : Updates on Notice of Offer for sale of Shares by Promoters

With reference to the earlier announcement dated April 18, 2022 regarding Notice of Offer for sale of Shares by Promoter, INEOS Styrolution APAC Pte. Ltd (“Seller”), Promoter of INEOS Styrolution India Ltd (“the Company”) has now informed BSE as under : “In this connection, we INEOS Styrolution APAC Pte. Ltd hereby confirm that we accept the entire quantity of 21,74,807 shares for which the Bids have been received from the non-Retail Investors today i.e. on April 19, 2022. However, we would like to keep the ongoing Offer for Sale open for receipt of the further bids from the Retail Investors on April 20, 2022. All capitalised terms not defined in this intimation letter shall have the same meanings as ascribed to them in the Notice.”

 

Scrip code : 532851

Name : Insecticides India Ltd.

Subject : Intimation Of Receipt Of Patent (Novel Granules And Its Pesticidal Compositions)

This is to inform you that the Patent Office has granted the Patent for an invention entitled Novel Granules And its Pesticidal Compositions for the term of 20 years from 11th day of July, 2019 (date of filing).

Daily Bulletin (13th April, 2022)

Daily Bulletin (13th April, 2022)

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220413-43

Scrip code : 524824

Name : Bal Pharma Ltd.

Subject : Announcement under Regulation 30 (LODR)-Allotment

Pursuant to applicable provisions of Chapter V of SEBI (ICDR) Regulations, 2018 and Section 42 of the Companies Act,2013 & Companies (Prospectus and allotment of Securities) Rules, 2014 as amended from time to time and after having received the full consideration amount , the Board of Directors of the Company at its meeting held on today i.e 13.04.2022 has inter alia approved the allotment of 7,50,000 equity shares of Rs.10/- each to the following investor , upon conversion of Warrants allotted to him on preferential basis: Sl No Name of the Investor Category of Investor No of equity shares allotted Distinctive Numbers 01 Mr Shailesh Siroya Promoter 7,50,000 14822373 to 15572372 With this allotment, the paid-up equity share capital of the Company has risen to Rs.15,57,23,720/- divided into 1,55,72,372 equity shares of Rs.10 each.

 

Scrip code : 540073

Name : BLS International Services Ltd

Subject : Board recommends Bonus Issue

BLS International Services Ltd has informed BSE that the Board of Directors at their meeting held on April 13, 2022, inter alia, has recommended the Bonus Issue of Equity Shares in the proportion of (One) Equity Share of Re. 1/- each for every (One) Equity Share of Re. 1/- each held by the shareholders of the Company as on the record date.

 

Scrip code : 532368

Name : BRIGHTCOM GROUP LIMITED

Subject : Brightcom Partners With Intent IQ

This is to inform the Shareholders through the Exchanges that, Brightcom is partnering with Intent IQ, the next generation identity resolution leader, to enhance its bidding capability in RTB and programmatic advertising environments. Their service is powered by Intent IQ”s patented Identity Device Graph that processes over 20 billion events every 24 hours, over 11 billion email open/login events each month, and holds 80+ different attributes inside. Brightcom is looking for significant increases in targeted revenues in such environments by up to 30%. Intent IQ”s bid enhancement service to better identify IDs in a cookieless climate will leverage and maximize monetization for our publishers” portfolio. This Graph is created by blending the power of advanced AI and decades of domain expertise.

 

Scrip code : 532281

Name : HCL Technologies Ltd

Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release

Sub: Release – ‘HCL Technologies Expands Global Partnership with Avaloq to Accelerate Innovation in Digital Wealth Management’ Dear Sir/ Madam, Enclosed please find a release on the captioned subject being issued by the Company today. This is for your information and records.

 

Scrip code : 532832

Name : Indiabulls Real Estate Limited

Subject : Announcement under Regulation 30 (LODR)-Allotment

The Fund Raising Committee of the Board at its meeting held today i.e. April 12, 2022, has inter alia approved the issue and allotment of 8,55,59,435 Equity Shares to QIBs at the issue price of ?101.10 per Equity Share (including a premium of ?99.10 per Equity Share), aggregating to ?8,65,00,58,878.50 (Rs Eight Hundred Sixty Five Crores Fifty Eight Thousand Eight Hundred Seventy Eight and Fifty Paisa only), pursuant to the Issue. Pursuant to the allotment of Equity Shares in the Issue, the paid-up Equity Share capital stands increased to ?1,08,33,50,662 consisting of 54,16,75,331 Equity Shares. Further, find attached herewith the list of allottees who have been allotted more than 5% of the Equity Shares offered in the Issue, marked as Annexure 1. The shareholding pattern of the Company, before and after the Issue, will be submitted along with the listing application in the format specified in Regulation 31 of the SEBI (LODR) Regulations. (ref attachment for details).

 

Scrip code : 534309

Name : NBCC (India) Limited

Subject : Intimation Of Award Of Work By NBCC (India) Limited

Pursuant to the Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that NBCC (India) Limited has awarded the work for the ‘Construction of proposed Office building for the Fertilizer Corporation of India Limited (FCIL) at sector-1, Noida (UP)’ to M/s GSBA Builders Pvt. Ltd. for total contract value of Rs. 39,92,21,961/- (Rupees Thirty Nine Crore Ninety Two Lakh Twenty One Thousand Nine Hundred Sixty One Only)

 

Scrip code : 532923

Name : RENAISSANCE GLOBAL LIMITED

Subject : Board Meeting Intimation for Intimation Board Meeting To Consider Sub-Division/Split Of Existing Equity Shares Of The Company.
Renaissance Global Ltd has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 05/05/2022 ,inter alia, to consider and approve In accordance with Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the meeting of the Board of Directors of the Company will be held on Thursday, May 05, 2022 inter alia to consider: 1. sub-division/split of existing equity shares of the Company having face value of Rs. 10/- each, fully paid up. 2. alteration of authorised share capital clause of the Company. 3. obtaining shareholders’ approval for Sub-division/split of equity shares and alteration of authorised share capital clause. The Company has given an option to the Board members to participate in Board meeting through video conferencing facility.

 

Scrip code : 531893

Name : Sawaca Business Machines Ltd.

Subject : Board recommend Sub-Division of Equity Shares & Bonus Issue

Sawaca Business Machines Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 13, 2022, inter alia, has considered and approved the following: 1. Recommended the proposal for split/sub-division of Company’s 1(One) equity share of face value of Rs. 10/- (Rupees Ten Only) each into 10(Ten) equity shares of face value of Rs. 1/- (Rupees One Only) each; 2. Recommended an issue of new Equity Bonus Shares in the proportion of 10 (TEN) Equity Share of Rs. 1/-each for every 100 (ONE HUNDRED) existing Equity Share of Rs. 1/- each held by the Shareholders/ Members of the Company as on the record date.

Daily Bulletin (12th April, 2022)

Daily Bulletin (12th April, 2022)

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220412-40

Scrip code : 540615

Name : 7NR Retail Limited

Subject : Board Meeting Outcome for Outcome Of Board Meeting Held Today I.E. 11Th April, 2022

1.Considered and approved issue of 12,86,45,000 Equity Shares of face value of Rs. 1/- at issue price of Rs. 1.80/- per equity share including premium of Rs. 0.80/- per equity share aggregating of Rs. 23,15,61,000/- to all existing member of the Company on rights (right issue) aforesaid right comes in effect post preferential issue. The brief term of right issue is approved by Board is annexure herewith as Annexure – I 2. Considered and approved the formation of a committee of Directors to decide matters relating to the Rights Issue (‘Rights Issue Committee’) which includes, inter alia, to decide or alter the treatment to be given to fractional entitlements, if any to make any applications to the regulatory authorities as may be required, determine the terms and conditions of the Right Issue including structure and timing of the issue. 3. Considered and approved appointment of Ms. Prachi Chobisa as the Company Secretary and Compliance Officer of the Company w.e.f. 11th April, 2022.

 

Scrip code : 533573

Name : ALEMBIC PHARMACEUTICALS LIMITED

Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release

With reference to the captioned subject, this is to inform the exchange that the Company’s wholly owned subsidiary, Aleor Dermaceuticals Limited has received US Food and Drug Administration (USFDA) Final Approval for Lidocaine and Prilocaine Cream USP, 2.5%/2.5%. Please find enclosed herewith our press release. We request you to kindly take the same on record.

 

Scrip code : 532700

Name : Entertainment Network (India) Ltd

Subject : Licensing Arrangement

The Company’s subsidiary – Entertainment Network LLC has entered into a Brand and Content Licensing arrangement with Dallas – US based radio broadcaster – FA Radio International LLC (‘FA Radio’) to use the Company’s trademarks and content. FA Radio operates Hindi/ Urdu language radio station currently branded as ‘Azad FM’. It will now be rebranded as ‘Mirchi’ on mutually agreeable terms and conditions. The Brand and Content licensing arrangement does not currently involve any financial commitments by the Company and will not have any immediate material impact on the Company’s financials.

 

Scrip code : 543386

Name : Fino Payments Bank Limited

Subject : Announcement under Regulation 30 (LODR)-Acquisition

Pursuant to Regulation 30 of Listing Regulations, we would like to inform you that the Board of Directors of Fino Payments Bank Limited (‘the Bank’) at its meeting held on Sunday, April 10, 2022 and continued on April 11, 2022 has inter-alia considered and approved the proposal to invest by way of subscription of 12.19% shareholding of Paysprint Private Limited. The details required under Regulation 30 of the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 in relation to the aforesaid investment will be intimated to the stock exchanges upon finalization of terms and conditions and completion of all formalities. The Board Meeting commenced at 10.30 a.m. on April 10, 2022 and continued and resume at 8.00 p.m. on April 11, 2022 and concluded at 9.10 p.m. on April 11, 2022. This information is also available on the website of the Bank i.e. www.finobank.com Kindly take the same on record.

 

Scrip code : 513097

Name : Shivalik Bimetal Controls Ltd.,

Subject : Announcement under Regulation 30 (LODR)-Acquisition

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘the Regulation’), we would like to inform that the Company has signed an agreement(s): a)To purchase the 50% shareholding from the joint venture partner, PortWest Corporation (Formerly known as Checon Corporation USA) in Shivalik Engineered Products Private Limited Checon Shivalik Contact Solutions Private Limited (CSCS), consequent to which ‘CSCS’ will become a wholly owned subsidiary of the Company. b)To purchase the 55% shareholding from the associate partners, Ultra Portfolio Management Private Limited and O D Finance and Investment Private Limited in Shivalik Bimetal Engineers Private Limited (SBEPL), consequent to which ‘SBEPL’ will become a wholly owned subsidiary of the Company.

Daily Bulletin (11th April, 2022)

Daily Bulletin (11th April, 2022)

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220411-54

 

Scrip code : 539289

Name : Aurum PropTech Limited

Subject : Corporate Action – Fixes Record Date For Rights Issue

We wish to inform you that in accordance with Regulation 42 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended, and Regulation 68 of the SEBI ICDR Regulations, 2018, the Rights Issue Committee of our Board at its meeting held today i.e. April 08, 2022, has considered and approved the following: 1. April 14, 2022 as the record date for the purpose of determining the equity shareholders who are eligible to apply for the equity shares in the Issue (Record Date); and 2. Certain terms of the Issue including (i) the Issue Opening Date – April 26, 2022; and (ii) the Issue Closing Date – May 10, 2022.

 

Scrip code : 532296

Name : Glenmark Pharmaceuticals ltd

Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release

Glenmark Specialty S.A. receives approval for conducting Phase 1 Clinical Trial of its Novel Molecule GRC 54276 in patients with Advanced Solid Tumors and Hodgkin’s Lymphoma.

 

Scrip code : 509079

Name : Gufic BioSciences Ltd.

Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, enclosed herewith a press release being issued by the Company on the subject ” Gufic receives permission from CDSCO to manufacture and sale Isavuconazonium Sulfate API and Finished formulation Isavuconazole for Injection 200 mg/vial.” The same is submitted for public dissemination and your records.

 

Scrip code : 538835

Name : INTELLECT DESIGN ARENA LIMITED

Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release

Media Release- Intellect bags a major transformative deal from VPBank.

 

Scrip code : 532154

Name : JOHNSON PHARMACARE LIMITED

Subject : Increase Of Capital By Issue Of Bonus Shares -Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015
Apropos the captioned subject please be informed that the Board of Directors have in the allotment meeting held on April 9, 2022 allotted 5,00,00,000 bonus equity shares to the shareholders entitled for these shares subsequently increasing the paid up and issued capital of the Company from Rs. 50,00,00,000/-(divided into 50,00,00,000 equity shares of the face value of Rs.1/-each) to Rs. 55,00,00,000/-(divided into 55,00,00,000 equity shares of the face value of Rs.1/-each). We further wish to inform that the said 5,00,00,000 bonus shares will be credited to the account of respective shareholders on or before April 19,2022. This is for your information and records pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Thanking you.

 

Scrip code : 500228

Name : JSW Steel Limited

Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release

JSW Utkal Steel receives environmental clearance from MoEF&CC for 13.2 MTPA Greenfield Steel Plant in Odisha.

 

Scrip code : 973060

Name : Kesoram Industries Ltd

Subject : Demerger

The Board considered the proposal of demerging its rayon, transparent paper and chemical business carried out by the Company directly and through its wholly owned subsidiary Cygnet Industries Ltd and in this regards has setup a committee ‘Demerger Committee’ to especially evaluate the proposal, engage relevant professionals and to do all such acts, deeds and things as necessary and expedient to give effect thereto. The necessary disclosures as per SEBI LODR shall be provided once the scheme is approved.

 

Scrip code : 540768

Name : Mahindra Logistics Limited

Subject : Announcement under Regulation 30 (LODR)-Updates on Acquisition

We refer to our intimation dated 28 February 2022, informing that the Company had entered into Share Purchase Agreement, Share Subscription Agreement and Shareholders’ Agreement for acquisition of up to 43,972 equity shares and for subscribing up to 63,200 Series A Compulsorily Convertible Cumulative Preference Shares (‘CCCPS’) of ZipZap Logistics Private Limited (‘Whizzard’), in tranches (‘Acquisition’), resulting in the Company holding in aggregate up to 60% of Share Capital of Whizzard, on a fully diluted basis, upon completion. In this connection, we would like to inform you that the Company has today viz. Friday, 8 April 2022, acquired 21,327 equity shares and subscribed to 31,600 CCCPS of Whizzard, in aggregate, constituting 36% of the Share Capital of Whizzard, on a fully diluted basis. With this, Whizzard becomes an Associate of the Company effective from 8 April 2022. Detailed disclosure in this regards is attached.

 

Scrip code : 504918

Name : Sandur Manganese & Iron Ores Ltd.,

Subject : Corporate Action-Intimation of Right issue

Rights Issue: The issuance of equity shares of Rs. 10/- each of the Company on rights basis to eligible equity shareholders of the Company as on the record date (to be notified later). Further the Board has constituted and authorised ‘Right Issue Committee’ to decide detailed terms and conditions of the Issue, including but not limiting to the deciding the payment modalities / schedule thereof, record date, timings, other terms and conditions and all other related matters etc. The promoter and promoter group of the Company will subscribe to all the unsubscribed shares in the Issue, if any.

 

Scrip code : 532856

Name : Time Technoplast Limited

Subject : Announcement Under Regulation 30 (LODR) – Updates

We wish to inform you that the Board at its meeting held today approved the following businesses: 1) Restructuring of overseas business subject to the approval of members to capture the growth in Asian Countries, Middle East and USA through Joint Venture/Special Purpose Vehicle by onboarding strategic partner/investor partner by way of sale/transfer/disposal of part of assets/investments of subsidiaries/material subsidiaries/step down subsidiaries. The Company will be benefitted by utilizing proceeds of the restructuring for Repayment of debt, Capex for Composite Cylinders (LPG/CNG/Hydrogen) & Core Business in India to meet huge market demand and Benefit to the shareholders. 2) Considered and approved Notice of Postal Ballot for:- a) Appointment of Mr. Bharat Kumar Vageria as a Managing Director. b) Appointment of Mr. Vishal Anil Jain as a Non-Executive Director. c) Restructuring of overseas business. 3) Appointment of Mr. Arun Dash, PCS as a scrutinizer .

Daily Bulletin (8th April, 2022)

Daily Bulletin (8th April, 2022)

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220408-49

 

Scrip code : 540061

Name : Bigbloc Construction Limited

Subject : INTIMATION OF INCORPORATION OF WHOLLY OWNED SUBSIDIARY

Dear Sir/Madam, Pursuant to Regulation 30 and Para A of Schedule III of the SEBI (LODR), We wish to inform you that the Company has incorporated a subsidiary namely ‘Siam Cement Bigbloc Construction Technologies Private Limited’, the details are set out in Annexure A. Ministry of Corporate Affairs (Registrar of Companies) has issued the certificate of incorporation dated 6th April, 2022. Kindly take the same on your record.

 

Scrip code : 531599

Name : FDC Ltd.

Subject : Offer-Opening Advertisement Pertaining To Buyback Of Equity Shares

Please find enclosed the Offer-Opening Advertisement published in the following newspapers on Friday, April 08, 2022 Business Standard English All editions Business Standard Hindi All editions Loksatta Marathi Aurangabad edition This will also be made available on the Company’s website at www.fdcindia.com. Kindly take the above on record.

 

Scrip code : 508918

Name : IRONWOOD EDUCATION LIMITED

Subject : Announcement under Regulation 30 (LODR)-Updates on Acquisition

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015, please be informed that Coaching Beyond Private Limited, associate company has allotted 5,62,500 equity shares of Rs. 10/- each to one of the investors. Pursuant to this, the holding of the Company in Coaching Beyond Private Limited has reduced from 20% to 16% and ceased to be associate company of the Company. Kindly take the same on record.

 

Scrip code : 505693

Name : La Tim Metal & Industries Limited

Subject : Corporate Action-Outcome of Sub division / Stock Split

The Board of Directors of the Company in their meeting held on 8th April, 2022 has considered and recommended the proposal of sub- division of Company”s 1 (one) equity shares of face value of Rs. 10/- each into 10 (ten) equity shares of face value of Re 1/-each subject to approval by shareholders.

 

Scrip code : 533295

Name: PUNJAB & SIND BANK

Subject : Divestment Of Stake In India SME Asset Reconstruction Company Limited (ISARCL) – Update This is further to our intimation vide Ref No: PSB/HO/Shares Cell/9/2022-23 dated April 7, 2022 wherein it was informed that the Bank has executed an agreement on April 06, 2022 for sale of its 8% stake in India SME Asset Reconstruction Company Limited in favour of Dhansamridhi Finance Pvt Ltd. It is informed that the % of stake sale has been inadvertently mentioned as 8% instead of 5%. It is clarified that the Bank has executed an agreement on April 06, 2022 for sale of its 5% stake in India SME Asset Reconstruction Company Limited in favour of Dhansamridhi Finance Pvt Ltd. All other details remain the same.

 

Scrip code : 532029

Name : Sindhu Trade Links Limited

Subject : Board approves Bonus Issue

Sindhu Trade Links Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 08, 2022, inter alia, has corsidered and approved the following : – As part of company’s endeavours in increase shareholders wealth, the Board has approved the issue of Bonus Equity Shares to the existing shareholders in the ratio of 2:1, i.e. 2 Bonus Equity Share of Rs. 1/- each for every 1 existing Paid Up Equity Share, held by the shareholders on a record date, subject to statutory and other required approvals.

Daily Bulletin (7th April, 2022)

Daily Bulletin (7th April, 2022)

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220407-52

Scrip code : 513349

Name : Ajmera Realty & Infra India Limited

Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release

Ajmera Realty & Infra India Ltd targets sales value of INR 330 crores from its real estate projects in Bengaluru.

 

Scrip code : 533573

Name : ALEMBIC PHARMACEUTICALS LIMITED

Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release

With reference to the captioned subject, this is to inform the exchange that the Company has received US Food & Drug Administration (USFDA) Tentative Approval for Dabigatran Etexilate Capsules, 75 mg, 110 mg, and 150 mg. Please find enclosed herewith our press release. We request you to kindly take the same on record.

 

Scrip code : 532483

Name : Canara Bank

Subject : Disclosure Under Regulation 30(1) And 30(2) Of SEBI (SAST) Regulations, 2011

We herewith enclose the Annual Disclosure under Regulation 30(1) and 30(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, in the format prescribed in respect of CANARA BANK’S holdings as promoters of CAN FIN HOMES LTD.

 

Scrip code : 540614

Name : G G Engineering Limited

Subject : Board Meeting Intimation for Intimation Of Board Meeting To Be Held On April 27, 2022

G G Engineering Ltd has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 27/04/2022 ,inter alia, to consider and approve i. to consider, review, evaluate and finalise various business strategies for alignment of business interests as per the long-term business plan of the Company to emerge as one-stop shop for all building material and engineering products, broad-basing of products offering, open retail outlets, adoption of business franchise model etc. along with disposal of non-core business assets/interests; ii. to augment the financial resources of the Company via funds raising by way of issue of equity shares/convertible instruments/other securities through preferential allotment, right issue, QIP’s, ADR, GDR, FCCB or any other method or combination thereof, in one or more trenches, iii. to appoint necessary professionals, experts, merchant bankers, legal advisors, other intermediaries for fund raising and business expansion program.

 

Scrip code : 532457

Name : Gulshan Polyols Ltd.

Subject : Corporate Action-Amalgamation/ Merger / Demerger

In terms of the provisions of Regulation 42 of the Listing Regulations, Thursday, April 14, 2022 has been fixed as the Record Date by the Board of Directors determining names of equity shareholders of the Transferor Companies who shall be entitled to receive the equity shares of the Company (Transferee Company) as consideration pursuant to the Scheme, in following ratio: 1. The Transferee Company shall without any further act or deed, issue and allot 39,848 Equity Shares of Rs.1/- each fully paid up for every 1 Equity Share of Rs.1000/- each fully paid up held by the shareholders of the Transferor Company No. 1 whose names appear in the register of members as on the Record Date. 2. The Transferee Company shall without any further act or deed, issue and allot 181 Equity Shares of Rs.1/- each fully paid up for every 1 Equity Share of Rs.10/- each fully paid up held by the shareholders of the Transferor Company No. 2 whose names appear in the register of members as on the Record Date.

 

Scrip code : 532832

Name : Indiabulls Real Estate Limited

Subject : Announcement under Regulation 30 (LODR)-Qualified Institutional Placement

We wish to inform that that pursuant to the approval of the board of directors of the Company (the ‘Board’), at its meeting held on December 22, 2021, and the shareholders of the Company, at their Extra-ordinary General Meeting held through video conferencing / other audio-visual means facility on February 7, 2022, the Fund Raising Committee of the Board (the ‘Committee’), at its meeting held today i.e. April 7, 2022 which commenced at 8:00 P.M. and concluded at 8:25 P.M., has inter alia: a. Approved and adopting the preliminary placement document dated April 7, 2022, together with the application form in connection with the Issue; and b. Authorized the opening of the Issue today, i.e. April 7, 2022; and c. Approved the floor price for the Issue, being ? 106.38 per Equity Share (‘Floor Price’), based on the pricing formula as prescribed under the SEBI ICDR Regulations. Please refer the attachment for further details.

 

Scrip code : 959481

Name : TATA STEEL LIMITED

Subject : Announcement under Regulation 30 (LODR)-Acquisition

Execution of Share Purchase Agreement for acquisition of entire stake held by Steel Authority of India Limited in S&T Mining Company Limited.

 

Scrip code : 516030

Name : YASH PAKKA LIMITED

Subject : Announcement Under Reg 30– Investment

With reference to the captioned subject, we would like to inform you that the Board of Directors of the Company in their meeting held on April 06, 2022 inter-alia approved the investment of 97.5% share capital of Pakka Impact Limited. The Board has approved the total investment in Pakka Impact Limited up to INR 50 million by way of loans, guarantee, securities. Pursuant to the above investment, Pakka Impact Limited will become a Subsidiary of the Company. The Board has approved for formation of wholly owned subsidiary in Singapore in the name of Pakka PTE. The Board has also approved the investment in Pakka PTE by way of loans, guarantee, securities up to INR 50 million. The details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/ 4/2015 dated 9th September, 2015 are given in Annexure A and B to this letter. Kindly take the above on your record and do the needful.

Daily Bulletin (6th April, 2022)

Daily Bulletin (6th April, 2022)

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220406-37

Scrip code : 512599

Name : Adani Enterprises Ltd.

Subject : Announcement under Regulation 30 (LODR)-Acquisition

Intimation for acquisition of minority stake in Forsight Robotics Ltd.

 

Scrip code : 512599

Name : Adani Enterprises Ltd.

Subject : Announcement under Regulation 30 (LODR)-Acquisition

Intimation for acquisition of 49% stake of Jhar Mining Infra Private Limited.

 

Scrip code : 532888

Name : ASIAN GRANITO INDIA LIMITED

Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release

Please find attached herewith Press Release regarding Asian Granito India Ltd”s (AGL’s) INR 441 Crores (USD ~60 Mn) Rights Issue (‘The Issue’) to open on April 25.

 

Scrip code : 500820

Name : Asian Paints Ltd.

Subject : Announcement under Regulation 30 (LODR)-Updates on Acquisition

This is with reference to our letter no. APL/SEC/31/2022-23/01 dated 1st April, 2022, wherein it was informed that the Company has entered into a Share Purchase Agreement and other definitive documents (collectively referred to as ‘Definitive Documents’) with the existing shareholders of Obgenix Software Private Limited (popularly known by the brand name of ‘White Teak’), for the acquisition of 100% of its equity share capital, in a staggered manner, over the period of next 3 (three) years, subject to certain conditions. It is now informed that the Company has acquired 49% of the equity share capital of White Teak and all the customary formalities relating to the said acquisition have been completed. The remaining 51% stake would be acquired in a staggered manner as per the terms of the Definitive Documents. This is for your information and record.

 

Scrip code : 532483

Name : Canara Bank

Subject : Disclosure Under Regulation 30 SEBI (LODR) – Equity Stake Sale – ISARC

This is to inform the Stock Exchanges that Canara Bank has executed a Share Purchase Agreement, dated 06.04.2022 for sale of entire equity stake of 4% in M/s India SME Asset Reconstruction Company Limited (ISARC), details of which are enclosed as per annexure.

 

Scrip code : 532659

Name : IDFC LIMITED

Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release

In continuation of our letters dated September 17, 2021 and October 21, 2021 regarding divestment of IDFC AMC and pursuant to Regulation 30 of LODR, 2015, we wish to inform you that the board of directors of IDFC Limited (‘the Company’) and the board of directors of IDFC FHCL at their respective meetings held today, i.e. April 06, 2022, have inter alia considered binding bids received in connection with divestment of IDFC AMC along with IDFC AMC Trustee and have approved sale of the entire shareholding of IDFC AMC and IDFC AMC Trustee held by IDFC FHCL to a consortium comprising of Bandhan Financial Holding Limited, Lathe Investment Pte. Ltd. (affiliate of GIC), Tangerine Investments Limited and Infinity Partners (affiliates of ChrysCapital) (‘Proposed Transaction’). The Proposed Transaction will be completed upon receipt of requisite regulatory and other approvals, as applicable, and completion of closing related actions mutually agreed between the parties.

 

Scrip code : 500319

Name : Indian Sucrose Ltd.

Subject : Announcement under Regulation 30 (LODR)-Allotment

In accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations, 2015’), we wish to inform your good office that the Board of Directors of the Company, Indian Sucrose Limited, passed a resolution passed in the Board meeting held today i.e., 06 April, 2022 and has inter alia, considered and approved the allotment of 3,24,894 Equity Shares of face value of Rs.10/- each pursuant to conversion of 3,24,894 Fully Convertible Warrants (‘Warrants’), issued as on August 24, 2021 at an issue price of Rs.23.50/- each, by way of preferential allotment, to the following persons belonging to ‘Promoter Group’ category.

 

Scrip code : 538607

Name : Toyam Industries Limited

Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release

This is to inform you that the company has entered into 51% Joint Venture (JV) with ‘Rajwada Cricket League’, Cricket league-based company. The Two Companies have agreed to join hands to provide the Professional Cricket League with the best-in-class sporting experience in Cricket. The MOU calls for the Companies to cater to the Finest Sporting T-20 Cricket League with better equipment’s, well designed facilities and infrastructure.