Swiggy Merger & Restructuring
Swiggy Limited completed the sale of its entire stake in Lynks Logistics Limited to Trustroot Internet Private Limited. Consequently, Lynks Logistics ceased to be a step-down subsidiary.
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Swiggy Limited completed the sale of its entire stake in Lynks Logistics Limited to Trustroot Internet Private Limited. Consequently, Lynks Logistics ceased to be a step-down subsidiary.
Shadowfax Technologies approved the incorporation of a new wholly owned subsidiary in India. Additionally, the company allotted 49,098 equity shares following the exercise of ESOPs.
Skyways Air Services is divesting its subsidiary, Avito Global Freight Private Limited, for Rs. 0.92 Crore. The stake is being sold to the subsidiary's management team and senior executives.
Skyways Air Services Ltd approved the incorporation of a wholly-owned subsidiary in the UAE through its subsidiary Avito Global Freight. The logistics entity will focus on freight forwarding with a ₹7 crore investment.
Shriram Finance renamed its wholly owned subsidiary to Shriram Gilts Limited following RBI approval to commence Primary Dealer business. This administrative change aligns with the subsidiary's new business focus.
ArMee Infotech Limited incorporated a new wholly-owned subsidiary, 'ARMEE MH ONE RENEWABLE ENERGY PRIVATE LIMITED', to develop solar power projects and related infrastructure.
Fairfax announced a proposed acquisition of IDBI Bank and intends to contribute Go Digit to IDBI Bank. The proposal is currently conditional and subject to approvals.
Skyways Air Services approved divesting a subsidiary stake, investing in its subsidiaries, incorporating a new UAE subsidiary, and providing a corporate guarantee for a Vietnam subsidiary.
Nuvoco Vistas' Board approved the voluntary liquidation of its wholly-owned subsidiary, Algebra Endeavour Private Limited, to simplify the Group's structure.
Prestige Estates consummated the first tranche of its strategic hospitality partnership with CPPIB. This transaction includes a subsidiary stake sale and share subscription for ₹1,500 Crore.
Tata Steel received the NCLT order for its scheme of amalgamation with Rujuvalika Investments Limited. This follows the previously announced merger plan.
Premier Energies executed a Shareholders Agreement with RCT Nexor Energy for their joint venture. The JV aims to establish a 12 GWh BESS manufacturing facility.
Global Pet Industries Limited will incorporate a new wholly-owned subsidiary, Spiltrock Beverage Private Limited, investing Rs. 0.01 Crore for 100% shareholding.
The Phoenix Mills Limited announced the amalgamation of its subsidiary, Truevalue Infrabuild Private Limited, into another subsidiary, SGH Realty Private Limited, to simplify the business structure.
Tata Communications is transferring its 100% stake in Kaleyra, Inc. to its subsidiary, TCNL, for an aggregate fair market value of USD 92.625 million to simplify structure.
Agarwal Toughened Glass's board approved incorporating a wholly owned subsidiary in Dubai, UAE, for general trading and professional services. No monetary value was disclosed.
AGL Industries approved sale of 16% stake in Allomex Steel for Rs. 16,000 to its directors' relatives. Allomex will cease to be an associate upon completion.
Nahar Industrial Enterprises incorporated Ranchi Logipark Pvt Ltd as a wholly-owned subsidiary for warehousing and storage. The new entity is 100% owned under Indian law.
Dalmia Bharat Sugar incorporated a wholly-owned subsidiary, Dalmia Bharat Global Holdings Limited, in Abu Dhabi. The entity will hold the company's present and future foreign investments.
INDO-MIM's board approved incorporation of a wholly-owned manufacturing subsidiary in Vietnam. The company will invest ₹45 Crore over five years for electronics assembly and export.
ACME Solar Holdings incorporated a wholly-owned subsidiary, ACME Renewables FZCO, in the UAE for procurement and supply chain management. The investment is AED 10,000.
Thomas Cook (India) Ltd announced the voluntary dissolution of its step-down subsidiary, Digiphoto Entertainment Imaging INC. The event has no material impact on the company's financials.
Nitco Ltd completed the conveyance deed for 75% of its Kanjurmarg land, receiving ₹143 crore. The company expects ₹250 crore revenue from future commercial space sales.
Kore Digital divested its entire stake in subsidiaries Franken Telecom, Wolter Infratech, and KDL Realinfra for a total cash consideration of Rs. 1.96 Lakhs.
The Government of India and LIC have sold a 60.72% stake in IDBI Bank to M/s 10955230 Canada Inc. for a total consideration of ₹52,878.08 Crore.
Blue Star Ltd has initiated the voluntary strike-off of its step-down subsidiary, Blue Star Air Conditioning & Refrigeration (U) Limited, which has not commenced business operations.
INDO-MIM Ltd re-appointed three Independent Directors, revised its Insider Trading Policy, and approved the incorporation of a wholly-owned subsidiary in Vietnam.
Munish Forge is selling its subsidiary, Munish Defence Solutions, to promoter Davinder Bhasin for Rs. 0.15 Crore. The entity will cease to be a subsidiary upon completion.
Brooks Laboratories approved a demerger of its Manufacturing Business into its wholly-owned subsidiary, Abridge Speciality Limited, through a scheme of arrangement.
Shree Cement's subsidiary, Shree Global FZE, is incorporating a wholly-owned step-down subsidiary in China, Shree International Trading (Shanghai) Limited, for trading goods.