Subsidiary
Nandi Economic Corridor Enterprise (NECE): The management of publicly-held BF Utilities during its AGM on Monday took into view the suggestions of its shareholders and said that it will appoint merchant bankers and consultants to look into the various options to restructure a subsidiary. It will consider various options to enhance shareholder value by restructuring [...] Continue Reading »
Bangalore- Rajesh Exports, one of the country’s top three gold jewellery exporters, seems to have initiated discussion with real estate developers. The jewellery exporter, with revenue of Rs 25,000 crore in 2011-12, is understood to have finalised a plan to leverage on its vast land bank, worth around Rs 2,000 crore. The exporter is presumed [...] Continue Reading »
Bangalore- Phoenix Mills Ltd is planning to buy Everstone Capital’s real estate fund in Bangalore for $12 million (Rs 68 crore). The firm is in talks to buy 7.73 percent stake of Horizon Realty Fund LLC and 18.27 percent stake of Horizon Ventures II, which together, is approximately worth Rs 261 core. As of now, [...] Continue Reading »
New Delhi- Real estate builder DB Realty said that its subsidiary DB Hospitality is trying to sell stake in proposed hotel project in Delhi International airport and discussions are still going on. In the processing towards the BSE, DB Real estate claimed that DB Hospitality Pvt Ltd (DBHPL) is usually possessing stake in order to [...] Continue Reading »
Real estate player Prozone CSC, earlier a subsidiary of Provogue India Ltd, will be listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on September 12 as an independent entity. Prozone CSC Ltd has gone through the demerger process duly approved by the Mumbai High Court and is scheduled to be listed as [...] Continue Reading »
Andhra Pradesh High Court has approved the merger of subsidiary IVRCL Assets and Holdings with the parent company, infrastructure firm IVRCL. A composite Scheme of Arrangement has been made between IVRCL Ltd and IVRCL Assets & Holdings Ltd and two subsidiary companies RIHIM Developers Private Ltd and IVRCL TLT Private Ltd. As per Scheme of [...] Continue Reading »
Henikwon Corporation has been acquired by Tamco Switchgear, a wholly owned subsidiary of Larsen & Toubro. Malaysia-based Tamco is a part of L&T’s Electrical & Automation (E&A) business. Henikwon Corporation, based in Malaysia, makes low voltage and medium voltage bus duct systems. L&T said the Henikwon brand is globally recognized and offers products of international [...] Continue Reading »
Life Insurance Corporation of India (LIC), is all set to foray into the real estate market in India. The move is set to tap into the possibilities and opportunities in the growing impetus of the real estate sector. For this the LIC Housing Finance Ltd (LICHF), a the subsidiary of LIC has announced that it [...] Continue Reading »
Kochi might soon witness a sewage treatment plant. Kerala High Court has directed for the set up of the plant to the District collector of Ernakulam . For the implementation of the project it has asked to set aside 40 cents of land. It also ordered the District Collector to mark a specific part of [...] Continue Reading »
