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Relaxo Foundation adopts 32 Primary schools for Redevelopment and Concept Learning


Relaxo Foundation adopts 32 Primary schools for Redevelopment and Concept Learning
Posted On:
2021-03-09 09:02:16
(Time Zone: Arizona, USA)
Relaxo Foundation, the CSR arm of Relaxo Footwears Limited has signed an MoU with School Education Department of Haridwar District for redevelopment of the 32 primary school of Khanpur Block, Haridwar to develop them under Parivartan model school project in next 3 years. The MoU has been signed at Chief Minister s House, Dehradun in the presence of Mr. Trivendra Singh Rawat, Honourable Chief Minister of Uttarakhand.
The MoU was signed between Dr. Anand Bhardwaj, Chief Executive Officer, School Education Department of Haridwar District and Mr. Gambhir Agrawal, CSR Head, Relaxo Foundation along with Mr. Kumar Gaurav, CSR Officer-Relaxo Foundation. At the time of signing the MoU, Mr. Neeraj Khaiwal Additional Secretary to Chief Minister, Mr. C. Ravishankar District Collector Haridwar, Mr.V S Chaturvedi DEO, Mr. H.P. Vishw ....

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Embassy Office Parks REIT - Share of dividend to rise going ahead - ICICI Securities


Embassy Office Parks REIT - Share of dividend to rise going ahead - ICICI Securities
Posted On:
2021-03-09 08:58:59
(Time Zone: Arizona, USA)
As per an exchange announcement, The Embassy Office Parks REIT (Embassy REIT) has received approval from the National Company Law Tribunal ( NCLT ) in relation to its composite scheme of arrangement among its entities that restructures and simplifies the ownership of key portfolio assets, including Embassy Manyata, Bengaluru and Embassy TechZone, Pune. Post the expected completion of collapsing the Manyata SPV shareholding into a two-tier structure, we expect the overall share of tax-free dividends plus SPV debt amortization to rise from ~62% in 9MFY21 to between 70-75% from FY22E onwards. We upgrade our rating to BUY from ADD with an unchanged target price of Rs400/unit as we have already built-in the collapsing of the Manyata shareholding structure in our estimates from FY22E onwards. At CMP of Rs329, the Embassy REIT ....

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