Bertie Airtel: Telecom giant announces changes to Airtel Business leadership team. Ajay Chitkara has stepped down as CEO and will remain at the company until the third week of August. As a result, the Airtel business will operate as he three business and channel segments. The global business will be led by Vani Venkatesh, the domestic business by Ganesh Lakshminarayanan and the Nxtra data center by Ashish Arora.
JSW Steel: Following approval of the merger scheme by NCLT, JSW Vallabh Tinplate, Vardhman Industries and JSW Steel Coated Products have filed such orders with the Registrar of Companies. This system has been enforced since June 26th, and accordingly JSW Vallabh Tinplate & Vardhman Industries merged with JSW Steel Coated Products, a subsidiary of JSW Steel, and ceased to exist from the effective date.
Tech Mahindra: The company’s subsidiary LCC France SARL has approved a proposal to sell its 49% stake in SARL Djazatech together with its wholly-owned subsidiary EURL LCCUK Algerie. The share sale transaction is expected to close by July 10, 2023.
City Union Bank: The company has obtained approval from the Board of Directors for further funding up to Rs 500 crore through Qualified Institutional Investor Referrals (QIP).
BLS International Service: An outsourcing services provider announced that board members of its subsidiary BLS E-Services have approved an initial public offering (IPO) to raise capital. The size, price and other details of his proposed IPO offer will be determined in due course. After the proposed IPO, BLS E-Services will remain a subsidiary of the company.
Aditya Birla Capital: Aditya Birla Group Company has launched a Qualified Institutional Investor Issue (QIP) with a minimum price of Rs 175.99 per share. A person familiar with the matter told CNBC-TV18 that the amount of the funding is likely to be Rs 1.75 billion.
Dish TV: The cable and satellite distribution platform has received approval from the members of its board of directors to appoint Veerender Gupta as an additional director in the full-time director category effective June 26th. Veerender is currently the company’s Chief Technology Officer.
SBI Life Insurance Co., Ltd.: Swaminathan Janakiraman stepped down from the life insurance company’s board effective June 26, following the Reserve Bank of India’s appointment of Swaminathan as Deputy Governor. He was a candidate for Director representing the State Bank of India.
63 Moons Technologies: Miri Strategic Emerging Markets Fund LP, a hedge fund owned by US-based Miri Capital Management LLC, has acquired shares in this technology company through open market trading at an average price of Rs 216.16 per share. Purchased an additional 3.54 billion shares or 0.77% of shares. .
Aavas Investor: Foreign portfolio investor Smallcap World Fund Ltd sold a further 770,000 shares representing 0.97% stake in a housing finance company at an average price of Rs 1,437.74 per share and a total of Rs 110.77 million. So far, Small Cap World Fund holds 7.99% stake as of March 2023, but sold 3.5% stake in Aavas in June.
Parag Milk Foods: Sixth Sense India Opportunities III, a venture capital fund managed by Sixth Sense Ventures, has increased its stake in a dairy company, purchasing an additional 7.83 million shares or 0.67% stake at an average price of Rs 132 per share. In the last session, venture capital funds had purchased 6.8 million shares or 0.58% of Paragmilk shares.
