Panacea Biotec raises Rs 16.3 crore

Panacea Biotec Ltd today raised Rs 16.3 crore through private placement of preference shares to its promoters.
The company has allotted 1.63 crore Non-Convertible Cumulative Redeemable Preference Shares (NCCRPS) of Rs 10 each to the promotes of the company, Panacea Biotec said in a BSE filing.
The shares were alloted in pursuance of a special resolution passed by the shareholders in an extra-ordinary general meeting held today.
Shares of Panacea Biotec Ltd were trading at Rs 148.60 per scrip on the BSE down 0.50 percent from its previous close.
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ARLI expands portfolio; launches iMaximize, iReturn plan * Private insurer AEGON Religare Life Insurance (ARLI) today launched two plans for its online platform - unit-linked protection plan (ULIP) iMaximize Insurance Plan and term plan iReturn Insurance Plan.

"The online space continues to grow for the insurance sector with more and more customers turning to Internet for either information or actual purchase. As pioneers in the online space the time is just right to expand our product portfolio with two new plans targeted at the 'New Age' consumer," ARLI Chief Operating Officer Yateesh Srivastava, told reporters here.

The iMaximize Insurance Plan is a ULIP, which has a 0 per cent Premium Allocation Charge and comes with a triple-benefit option, which pays out a lump sum in the case of death of the policy holder, an annual income benefit for the life of the policy and also pays all remaining premiums in order to ensure that corpus creation is not compromised, he said.

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4 day textile machinery, accessory, spares expo from Jan 9 * Modern developments in the textile sector will be showcased at the ninth edition of the International Textile Machinery, Accessory, Spares exhibition here from January nine.
The four-day 'TEXFAIR-2015' will showcase developments in the sector and also a Farm to Finish Expo, which would display products of entire textile value chain, from Cotton to finished products, a release from Southern India Mills' Association, the organisers, said here today.
Nearly 180 exhibitors will display their products like textile machinery, spares, accessories, testing equipments, electronic and electric components, it said.

Besides Tamil Nadu, manufacturers and exhibitors from Gujarat, Haryana, Madhya Pradesh, Punjab, Maharashtra, Rajasthan and West Bengal are participating, along with manufacturers from Germany, Switzerland and Germany.