IndiGo co-founder Rakesh Gangwal is looking to raise over ₹3,730 crore by paring down his stake in the airline via block trade scheduled for Wednesday .Gangwal has offered around 15.6 million shares for sale equal to 4 per cent stake in the airline at a floor price of ₹2,400 per share. Liberty Global plc, one of the world’s leading converged video, broadband and communications companies, and Infosys have expanded their collaboration to evolve and scale Liberty Global’s cutting-edge digital entertainment and connectivity platforms. The parties have entered into an initial 5-year agreement, with an option to extend to 8 years and beyond. Infosys will provide services to Liberty Global estimated at €1.5 billion over the initial 5-year term and at €2.3 billion if the contract is extended to 8 years. The collaboration allows Liberty Global to realise run-rate savings in excess of €100 million per annum, inclusive of other savings and technology investments. HCLTechnologies, a global technoly company, announced that it has been selected by Cricket Australia (CA), the national governing body for the game in Australia, for the next phase of CA’s digital transformation. HCLTech has been a digital transformation partner to Cricket Australia since 2019. As part of the latest agreement, HCLTech will enable Cricket Australia to deliver immersive digital experiences to fans, players, partners, employees and volunteers across the world.Mahindra Tractors, a part of the Mahindra Group and the world’s largest tractor manufacturer by volume, has officially launched its much-anticipated, future-ready range of tractors – the Mahindra OJA – at Futurescape, an event held in Cape Town, South Africa. In Cape Town, Mahindra unveiled new tractors on 3 OJA platforms – the Sub Compact, Compact and Small Utility platforms, addressing diverse market needs. With 4WD as standard, Mahindra launched 7 new tractor models for the Indian market on the Compact and Small Utility platforms. These models rne from 20HP – 40HP (14.91kW – 29.82kW), for a wide array of applications, for unparalleled platform versatility and efficiency to handle diverse agricultural tasks.Ashok Leyland, the Indian flagship of the Hinduja Group, has announced that its Board has approved the acquisition of 100 per cent of Ohm Global Mobility Private Ltd (OHM) from OHM International Mobility Ltd for a nominal consideration of Rs 1 lakh. As the company is yet to become operational the consideration was nominal. Ashok Leyland has also announced that it will be investing up to Rs 300 crore as equity into OHM to operationalise the company. In addition, existing E-MaaS contracts will be transferred to OHM subject to necessary approvals.Two-wheeler major Hero Moto Corp on Monday disclosed details of the promoter family settlement pact agreed upon by the family members on July 27, 2016. As per the pact, Sunil Munjal exited from the management and control of Hero MotoCorp and also stepped down from the post of joint mnaing director. According to the agreement, management and control of the listed entity remained vested with the family group comprising of Pawan Munjal, Santosh Munjal, Renu Munjal and Suman Kant Munjal and an understanding has been reached between family group and Sunil Munjal on usage of ‘Hero’ trademark. In an exchange filing following the disclosure of the 2016 agreement, Hero MotoCorp clarified that the agreement “pertains to the year 2016” and there has been “no change in the management or control of the company in any manner at present”.The Board of Shriram Properties Limited has approved the appointment of Ashish Deora, Founder and CEO of Aurum PropTech Limited, focused on creating technology driven revolution In real estate sector in India.Vodafone Idea has written to the Telecom Department to pay ₹1,680 crore spectrum auction due for August 17, by availing 30-day grace period. Promoter Group to provide financial support up to ₹2,000 crore if required to meet payment obligatonshe Board of GSS Infotech has approved the allotment of 25.25 lakh share warrants of Rs 10 each issued at a price of Rs. 107 each on preferential basis to promoter Bhargav Marepally (9.25 lakh shares) and Enspire Institute of Professional Studies LLP (non-promoter: 16 lakh shares). The company’s board on February 14, 2022, had approved the issue of 28 lakh convertible share warrants out of which monies have been received on 25,25,000 shares. The Securities and Exchange Board of India has issued a confirmatory order on the case barring Punit Goenka and Subhash Chandra from key managerial and executive positions at Zee Entertainment Enterprises. As per the confirmatory order, SEBI has eight months to complete its investigation on the matter of misappropriation by the father-son duo. The order avers that Punit Goenka and Subhash Chandra will not hold position of a director or KMP in Zee Entertainment and other three other group companies until further directionAnindya Dutta, Managing Drectr of VIP Industries Limited has tendered his resignation on August 14, which will be effective from the close of business hours on November, 13, 2023. Further, the board on Tuesday has appointed Neetu Kashiramka as the Managing Director Designate and Chief Financial Officer, with effect from August 15. Ms. Neetu Kashiramka shall take over as the Managing Director and Chief Financial Officer of the Company with effect from November 14, subject to Shareholder’s approval. Himalya Food International has informed the exchanges that it’s Chairman and Managing Director informed the Board about the strategy document to surmount the acute financial stress after the Fire last year prepared by the Committee comprising of the Unit Heads, CFO and MD. He further apprised the Board that the report has highlighted urgent steps to meet the cashflow required to pay balance OTS amount to banks and simultaneously supplement working capital to fulfil pending export and domestic orders; the company is roposng to shift the operation unit located at Shubhkhera, Paonta Sahib and sell the land of the unit as housing real estate and use the funds for operations, relocation and expansion of business due to concerns raised by local residents; and the lead bank SBI and the consortium of banks are willing to extend the period for payment of balance OTS amount of around Rs. 35 crores by the end of current financial year. Further, the Company’s funds are depleted due to force majeure issues of covid and fire in the Gujarat plant in May 2022. JHS Svendgaard Laboratories Limited has analysed and discussed the proposal for consolidation of business of the Company and Vedic Cosmeceuticals Private Limited. After due discussion on the proposed consolidation of business, the Board in-principally agreed to the Amalgamation of the Company and VCPL under the Scheme of Arrangement for amalgamation to be entered into between the Company and VCPL, their respective promoters/shareholders and creditors.Hydeabad-hadquartered Nagarjuna Fertilizers and Chemicals Ltd (NFCL) has said that it has decided to sell its urea and micro-irrigation businesses to AM Green Ammonia (India) Pvt Ltd, a firm owned by one of India’s largest renewable energy players Greenko Group, for a gross consideration of Rs 1,700 crore (Rs 1365 crore and 19.7 per cent stake worth Rs 365 crore with a call option) on a slump sale basis.This comes three months after Asset Care and Reconstruction Enterprise Ltd (ACRE), an asset reconstruction company, purchased NFCL’s debt from the lenders and issued a demand notice under the provisions of the SARFAESI Act.
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