Prince Pipes and Fittings in limelight on debut

Share of Prince Pipes and Fittings will be in focus as it makes a debut today. The initial public offer of Prince Pipes and Fittings was subscribed 2.21 times. The issue opened for bidding on Wednesday, 18 December 2019 and it closed on Friday, 20 December 2019. The price band was fixed at Rs 177 to Rs 178 per share.

Adani Ports and Special Economic Zone (APSEZ) said Adani Logistics (ALL), a wholly owned subsidiary of APSEZ, has acquired 6,72,54,119 equity shares representing 40.25% stake of Snowman Logistics (Snowman) from Gateway Distriparks (GDL) at a price of Rs 44 per equity share aggregating to Rs 295.92 crore. The acquisition gives ALL platform to double its capacity in next 5 years.

Piramal Enterprises approved the issue of secured, rated, unlisted, redeemable Non-Convertible Debentures aggregating up to Rs. 2,750 crores on private placement basis to be issued in one or more tranches from time to time.

JSW Steel said that JSW Steel (Netherlands) B.V., a wholly owned subsidiary of the company, has entered into an agreement for selling 39%out of its 49% stake held in Geo Steel LLC, a Joint Venture (JV) based in Georgia, to its JV partner - Georgian Steel Group Holdings Limited. Post the completion of the aforesaid sale, JSW Steel (Netherlands) B.V. will continue to hold 10% stake in Geo Steel LLC.

PSP Projects informed that the company has emerged as the L-1 Bidder for development and beautification of Shri Kashi Vishwanath Dham at Varanasi, Uttar Pradesh with bid value of Rs 339 crore (excluding taxes).

Tata Global Beverages said both the partners, PepsiCo India Holdings (PIH) and itself, have agreed to revise the Joint Venture Agreement (JVA) dated 28 October 2010 with respect to its Joint Venture company NourishCo (NCBL). The the date for reviewing various options for the business of NCBL is extended from 31 December 2019 to 30 June 2020. NCBL markets and distributes branded products like Tata Gluco Plus, Tata Water Plus and Himalayan, within the liquid beverage category.

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