Infosys, M&M, GSFC in focus

Infosys announced a definitive agreement to acquire Kaleidoscope Innovation, a full-spectrum product design, development and insights firm innovating across medical, consumer and industrial markets, bolstering capabilities in the design of smart products.

Mahindra & Mahindra (M&M) said that the company has signed a Share Purchase Agreement for purchase of additional 1,825 Equity Shares, 4,480 Seed Compulsory Convertible Cumulative Participating Preference Shares (Seed CCCPS) and 589 Series A Compulsory Convertible Cumulative Participating Preference Shares (Series A CCCPS) of Carnot Technologies Private Limited (Carnot), an Associate of the company, from its existing Shareholders (Secondary Purchase) and (ii) a Share Subscription and Shareholders Agreement for subscription of 2,298 Series B Compulsory Convertible Cumulative Participating Preference Shares (Series B CCCPS) of Carnot (Primary Infusion). The company holds approximately 6.48% of the equity share capital (22.91% of the share capital on a fully diluted basis) of Carnot and post completion of the above transaction, the Company will hold approximately 15.60% of the equity share capital (48.05% of the share capital on a fully diluted basis) of Carnot.

Gujarat State Fertilizers & Chemicals (GSFC) has restarted its Methanol Plant with installed capacity of 525 mt per day.The plant was commissioned earlier in 2013, however no commercial production took place for the same as the same was unviable due to high raw material cost & non-availability of market.

Hindustan Aeronautics said that the Government proposes to sell 5,02,462 equity shares to the company's eligible employees at Rs 950.95 per share through an offer for sale from 4 to 9th September.

Trident said that normalcy in operations has been restored in the manufacturing operations at Budni, Madhya Pradesh. On 29 August 2020, the company has intimated about partial disruptions of its manufacturing operations due to accumulation of rainwater/intrusion of flash flood water in the premises at Budni location.

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