Promoter may convert $262-m FCCBs: Essar Oil
Essar Oil on Wednesday said its promoter is seeking to convert FCCBs aggregating $262 million into equity shares. The company said it has received a notice from promoter company, Essar Energy Holdings seeking conversion of FCCBs aggregating $262 million into equity shares. Essar Oil said it will allot 3.88 crore equity shares at R138 per share on conversion of 1,150 foreign currency convertible bonds (FCCBs) of $100,000 each aggregating to $115 million which were issued on June 15, 2010 to Essar Energy Holdings. The company will also allot 4.50 crore equity shares at R153 per share on conversion of 1,470 FCCBs of $100,000 each aggregating to $147 million which were issued on July 9, 2010 to Essar Energy Holdings.
Jyothy Labs raises R263 cr via preferential allotment
Jyothy Laboratories (JLL) on Wednesday said it has raised R263 crore via preferential allotment of shares to a promoter group firm. The company has allotted 1.5 crore equity shares of R1 each at a price of R175.15 per equity share to Sahayadri Agencies. Post allotment, the paid up equity share capital of Jyothy Labs has increased to R18.10 crore from R16.60 crore. With this the promoter holding in JLL has gone up from 63.69% to 66.7%, a release said. "Post successful integration with Henkel India it was the right time to invest in existing brands and also expand JLL's portfolio,” Jyothy Labs joint managing director Ullas Kamath said.
Godrej buys Red Fort’s stake in Kolkata project
Godrej Properties informed BSE on Wednesday that the company has given exit to Red Fort India Real Estate Babur (Red Fort) from its project Godrej Genesis at Kolkata, by purchasing its 49% stake in the equity share capital of its subsidiary Godrej Developers (GDPL). “Pursuant to the above, GDPL has become wholly-owned subsidiary of the Company with effect from December 04, 2013,” company said in a filing.
Honda Cars to hike prices of entire range from Jan
Honda Cars India (HCIL) is looking to hike prices of its entire product range in the country from the first week of January as it aims to partially offset the effects of adverse exchange rate and inflation. “We are looking to hike prices from the beginning of January. The price hike will be across our entire model range comprising Amaze, Brio, CR-V and Accord,” HCIL senior vice-president Jnaneshwar Sen said. When asked about the quantum of increase