Apollo Hospitals in focus after completing acquisition of majority stake in Assam Hospitals

Apollo Hospitals Enterprise announced that it has completed the acquisition of a 51% majority stake in Assam Hospitals, Guwahati. The acquisition of 51% controlling stake is in the form of a primary issuance of shares for a cash consideration of Rs 57.25 crore. The proceeds will be utilitised for refurbishing the hospital including addition of new equipments as well as towards expansion of the existing hospital block, Apollo Hospitals said. Assam Hospitals recorded turnover of Rs 83.10 crore in the the financial year ended 31 March 2015. The announcement was made on Saturday, 12 March 2016.

SeQuent Scientific will be in focus after the Reserve Bank of India (RBI) on Friday, 11 March 2016, notified that foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can now invest up to 49% of the paid-up capital of the company under the Portfolio Investment Scheme (PIS). The RBI has stated that the company has passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges.

National Buildings Construction Corporation's (NBCC) board of directors at its meeting held on Friday, 11 March 2016, approved 5-for-1 stock split. The announcement was made after market hours on Friday, 11 March 2016.

Jain Irrigation Systems (JISL) announced that it has successfully raised Rs 289.60 crore long term capital from funds/entities managed by Mandala Capital, a fund focused exclusively on investing in agribusiness in India. This is in addition to the preferential issue and allotment of 1.41 crore equity warrants of Rs 80 each issued on 24 February 2016, to the promoters on receipt of 25% deposit, JISL said. This fund raise is part of a total equity investment of $120 million, including an investment by Mandala in Jain Farm Fresh Foods (JFFFL), a wholly owned subsidiary of JISL under which its global food business is being organized, JISL said. The announcement was made after market hours on Friday, 11 March 2016.

Kwality said that its board of directors at a meeting held on 12 March 2016, approved the conversion of 51.81 lakh warrants issued at a price of Rs 48.25 per share into equal numbers of equity shares of face value of Rs 1 each allotted to Sonika Gupta. The announcement was made on Saturday, 12 March 2016.

Gammon India said that it has received a notice of conversion from ICICI Bank acting as a monitoring institution on behalf of the corporate debt restructuring (CDR) lenders for conversion of part of United Bank of India's outstanding debt into equity shares under the strategic debt restructuring (SDR) package of the company. United Bank of India has decided to convert part of its outstanding debt and interest aggregating to 7.56 crore into equity shares of the company at a price of Rs 11.89 per equity share. Post this conversion the total shareholding of the CDR lenders will be 62.65% of the total equity capital of the company. The announcement was made after market hours on Friday, 11 March 2016.

Indian Hume Pipe Company said it has secured a contract worth Rs 145.15 crore for a water supply project in Alwar, Rajasthan from the government of Rajasthan. The announcement was made after market hours on Friday, 11 March 2016.

CMI said that its board of directors will meet on 19 March 2016, to consider issue of equity shares/warrants/convertible securities on preferential basis to promoter group, associates and non promoters and to decide the relevant date for the purpose of preferential issue. The board would also consider the allotment 7 lakh equity shares in lieu of 7 lakh convertible warrants. Further, the board would discuss current business developments and future plans. The announcement was made after market hours on Friday, 11 March 2016.

Dewan Housing Finance Corporation (DHFL) said that the allotment committee of its board of directors at a meeting held on 11 March 2016, approved the issue and allotment of 2.12 crore warrants at an issue price of Rs 235.515 per warrant to Wadhawan Global Capital, the promoter entity of the company, upon receipt of 25% of the total consideration. The warrants are convertible into equivalent number of equity shares of Rs 10 each and will be allotted within 18 months from the date of allotment in one or more tranches. The announcement was made after market hours on Friday, 11 March 2016.

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