In terms of resolution planKesoram Industries announced that the fund raising committee of the board of the company in terms of the resolution plan, at its meeting held on 08 March 2021, has approved the allotment of the following securities of the company on preferential basis through private placement to the existing lenders in part conversion of their existing debt -
1) 2,22,21,262 fully paid-up Equity Shares having a
face value of Rs. 10 at a conversion price of Rs. 65 including a premium of Rs. 55 aggregating to Rs. 1,44,43,82,030 to the existing lenders.
2) 4,48,97,195 fully paid up Zero Coupon Optionally
Convertible Redeemable Preference Shares (OCRPS) having face value of Rs. 100 aggregating to Rs. 4,48,97,19,500 issued to the
ISGEC Heavy Engineering advanced 2.90% to Rs 476.95 after the company said it received an order from Shree Cement to set up waste heat recovery boilers at their Raipur unit.The boilers to be set up at Shree Cement s Raipur unit, will be of two types: a PH boiler to be installed at the pre-heater exhaust, and an AQC boiler to be installed at the cooler exhaust from the 10500 TPD kiln.
According to V K Luthra, business head, industrial & green energy boilers at Isgec, this is indeed a very prestigious order for us and we thank Shree Cement for once again showing confidence in Isgec s capabilities. This is the secondproject that Isgec will be successfully setting up for Shree Cement.
Read more about Wipro, Heranba Industries, Unichem Laboratories in focus on Business Standard. Wipro announced that it has signed an agreement to acquire Capco, a global management and technology consultancy providing digital, consulting and technology services to financial institutions in the Americas, Europe and the Asia Pacific. The
Prism Johnson has received revision in credit ratings from India Ratings and Research as under -
Non-convertible debentures (NCDs)- IND A+/Stable (upgraded)
Term loans - IND A+/Stable (upgraded)
Fund based limits - IND A+/Stable (upgraded)
Non fund based working capital limits - IND A1+ (upgraded)
Term deposit programme - IND tAA-/Stable (upgraded)
Unsecured short term loans - IND A1+ (upgraded)
Commercial paper programme - IND A1+ (upgraded)
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At meeting held on 01 March 2021The Board of Birla Corporation at its meeting held on 01 March 2021 has appointed Arvind Pathak (DIN: 00585588) as an Additional Director and
simultaneously the Managing Director & Chief Executive Officer of the Company for a
period of 3 (three) years w.e.f. 31 March 2021
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Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views an