PNB Housing Finance
The company will hold a board meeting on March 9 to consider fund-raising
The company’s board of directors have revised the date of the 63rd Annual General Meeting to April 12, 2022. Consequently, the record date for the purpose of determining the entitlement of the members to the final dividend for the year 2021 is April 22, 2022. If approved by the members at the Annual General Meeting, this shall be paid on and from May 6, 2022.
Housing Development Finance Corporation
HDFC is in talks with LIC of India to raise up to Rs 10,000 crore through a local bond sale this week, according to a report. The fundraising points to a likely revival in credit demand for new homes, the report added
The company’s board approved the issuance of equity shares worth Rs 25 crore to existing shareholders of Datawrkz Business Solutions. These shares will be issued on a preferential basis, at a price of Rs 2,260 per share. Post completion of this acquisition, the company will hold a 33 percent equity stake in Datawrkz Business Solutions Private Limited. Further, the company will be making an investment of up to Rs 30 crore in its subsidiary Next Wave by way of subscription to further equity shares.
Vijay Deshwal, Chief Executive Officer of the company has decided to take up the strategic role within the Cyrus Poonawalla Group where he will spearhead emerging investment opportunities. Consequently, he has stepped down as the CEO of the company and ceased to be a Key Managerial Personnel of the company.
The company has bagged a work order from Rajasthan State Pollution Control Board. The work includes design, development, implementation and maintenance of integrated e-Governance Solution 2.0 for Rajasthan State Pollution Control Board. The total contract value is Rs 12.85 crore.
Tube Investments of India
Subsidiary TI Clean Mobility acquired a 70 percent stake in Cellestial E-Mobility. The Murugappa Group company in January 2022 had entered into share subscription and purchase agreement with Cellestial E-Mobility, for the said transaction.
The firm said it has successfully commenced commercial production of the brownfield expansion and debottlenecking project at the Bhuj plant ahead of schedule. This will result in increased production of tires up to 50,000 MTPA.
The company’s board of directors has approved entering into the paint business through a wholly-owned subsidiary, formation of new a wholly-owned subsidiary and investment in the said wholly-owned subsidiary. The board of directors have approved an investment of up to Rs 600 crore spread over the first 5 years.
SBI Funds Management through various schemes acquired a 4.5 percent stake in the retail company through open market transactions on March 3. With this, its shareholding in the company stands at 8.76 percent, against 4.2 percent earlier.