1 / 7Strides Pharma | The pharmaceutical company on September 25 said its board has approved a scheme of arrangement among Strides Pharma Science Ltd, Steriscience Specialties, and Stelis Biopharma. This comprises the demerger of the 'identified CDMO and Soft Gelatin Business of Strides' into Stelis and demerger of the 'identified CDMO Business of Steriscience' into Stelis.
2 / 7ITC | Sanjiv Puri, chairman and managing director told CNBC-TV18 in an exclusive interaction that he does not foresee a significant need for capital raising in the soon-to-be-demerged hotel business. He also said the company is looking to improve its FMCG margin by a substantial 80-100 basis points each year in the medium term.
3 / 7Sheela Foam | The maker of popular mattress brand Sleepwell has approved the allocation of 1.11 crore equity shares at an issue price of Rs 1,078 apiece, according to an exchange filing. The issue price is at a discount of 4.94 percent to the floor price of Rs 1,133.99 per share. The proceeds from the issue will be used to reduce debt and fund growth initiatives.
4 / 7Wipro | IT services company on September 25 said it has successfully completed the sale of sizeable prime property in Chennai, Tamil Nadu. The transaction involved the sale of a 14.02-acre plot of land along with a 20-year-old building measuring approximately 589,778 square feet.
5 / 7Welspun Corp | Pipe maker said its wholly owned subsidiary Sintex BAPL has entered into an MoU with the state government of Telangana to set up a manufacturing unit in the state with up to Rs 350 crore investment. The proposed project is under the state government’s incentive scheme and will be manufacturing water tanks and pipes.
6 / 7Fortis Healthcare | The healthcare provider has gained approval from its board to acquire a 99.9 percent stake in Artistery Properties Private Ltd for Rs 32 crore. The decision marks an important step in Fortis Healthcare's expansion plans, particularly in the vicinity of Fortis Hospital, Anandpur, Kolkata.
7 / 7Mangalore Chemicals | The chemical fertilisers manufacturer has shut down its ammonia and urea plants for planned maintenance. The production is scheduled to resume by the end of October 2023, according to a stock exchange filing. The company will inform the exchanges once it resumes operations of the plants.
