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Axis Bank in focus as SUUTI to sell stake

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will be watched. The Specified Undertaking of the of (SUUTI)proposes to sell up to 5.07 crore (1.98%) equity shares of face value of Rs 2 each of on 12 February 2019 ("T day"), (for only) and on 13 February 2019 ("T+1 day") (for and who choose to carry their un-allotted bids) with an option to additionally sell 2.63 crore (1.02%) equity shares of the company (the "oversubscription option").

The offer shall take place on a separate window of the stock exchanges on 12 February 2019 ("T" day) and 13 February 2019 ("T+1"day) from 9:15 a.m. to 3:30 p.m. (Indian Standard Time) on both days, as per details given below. The floor price for the offer shall be Rs 689.52 per equity share. As on 31 December 2018, SUUTI held 9.289% stake in The announcement was made after market hours yesterday, 11 February 2019.

BSL announced that its board approved issuing up to 1200 crore - 11.09% non-convertible redeemable preference shares (NCRPS) of face value of Rs 10 each at par aggregating up to Rs 12,000 crore to on a private placement basis, subject to the approval of the shareholders of the company. The board also approved issuing up to 1200 crore - 8.89% optionally convertible redeemable preference (OCRPS) of face value of Rs 10 each at par aggregating up to Rs 12,000 crore to on a private placement basis, subject to the approval of the shareholders of the company. The announcement was made after market hours yesterday, 11 February 2019.

announced that (Aleor), a 60:40 joint venture between (Alembic) and (Orbicular), has completed (USFDA) inspection at its formulation manufacturing facility located at Karakhadi, Gujarat, India; with two observations. The inspection was carried out from 4 February 2019 to 8 February 2019. The announcement was made after market hours yesterday, 11 February 2019.

announced that the (RBI) has levied a penalty of Rs 1.5 crore on the bank for non-monitoring of end use of funds and delay in reporting of fraud in respect of one of its borrowers. The bank has taken necessary measures to strengthen internal controls to avoid such recurrence. The announcement was made after market hours yesterday, 11 February 2019.

announced that its board on 14 February 2019 will consider issuing equity shares to the promoter group on preferential basis at such price as may be determined in accordance with regulations. The announcement was made after market hours yesterday, 11 February 2019.

Edelweiss announced that Allianz Investment Management, the investment management arm of (one of the world's largest insurers), has made an investment of over $200 million into Edelweiss' private debt platform. Edelweiss, one of India's leading diversified has pioneered private debt investment in and is one of the largest private debt managers in the country. The announcement was made after market hours yesterday, 11 February 2019.

announced its association with (MLL), one of India's largest 3PL solution providers, to strengthen its and to implement its post GST consolidation strategy which is focused on achieving efficiencies in total cost. As part of this association, a (CDC) has been set up in Chennai with state-of-art (WMS) to serve the entire product portfolio of Gulf Oil. MLL is the first 3PL company to work with Gulf Oil and will handle this fully compliant warehouse, the first CDC of its kind for them. Gulf Oil has plans to open similar large format warehouses, across the country soon. The announcement was made after market hours yesterday, 11 February 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, February 12 2019. 08:27 IST
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