L&T in focus as L&T Infotech files fresh papers with Sebi for IPO

L&T announced that its subsidiary Larsen & Toubro Infotech (L&T Infotech) has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) yesterday, 12 April 2016, in order to undertake an initial public offer (IPO) of its equity shares of face value of Re 1 each. The offer comprises of an offer for sale (OFS) of up to 1.75 crore equity shares by L&T. The announcement was made after market hours yesterday, 12 April 2016.

Mahindra & Mahindra (M&M) announced that credit rating agency ICRA has reaffirmed its rating of [ICRA] AAA (stable) and [ICRA] A1+ for non-convertible debenture programme and bank facilities of the company. The announcement was made after market hours yesterday, 12 April 2016.

Kaveri Seed Company announced that it has opened a new plant at Karimnagar district in Telangana. This plant has an installed capacity of 10 to 20 tonnes (paddy/maize) of production per hour based on the crop. The new plant is scheduled to commence operations in the first week of May 2016. G. V. Bhaskar Rao, Managing Director of Kaveri Seed said that the new plant will enhance the existing capacity of seed process to meet the growing demand from the markets. The announcement was made after market hours yesterday, 12 April 2016.

Lux Industries' board of directors at its meeting held yesterday, 12 April 2016, approved 5-for-1 stock split. The announcement was made after market hours yesterday, 12 April 2016.

The Reserve Bank of India (RBI) yesterday, 12 April 2016, notified that the foreign shareholding through Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) in JKumar Infra Projects and Inox Leisure has crossed the permissible limit. Therefore, no further purchase of shares of these companies would be allowed through stock exchanges in India on behalf of FII/RFPIs.

Further, RBI notified that the foreign shareholding by Non-Resident Indians (NRIs) in Southern Ispat & Energy has reached the trigger limit. Therefore, further purchases of equity shares of this company would be allowed only after obtaining prior approval of RBI.

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