Investors are asking also why Rohan Verma chose not to helm the new consumer-facing business within CE Info Systems, and instead chose to float a separate company.
The Securities and Exchange Board of India (Sebi) is looking into the complaints in the multi-layered deal involving Swiss cement giant Holcim and its Indian subsidiaries Ambuja Cement and ACC.
The CLSA note published after the deal was announced argues that the holding-company structure will result in a potentially large holding company discount which will be applied to Ambuja‘s stake in ACC.
Jet Airways has got an extension from Sebi to meet the mandatory 25 percent public shareholding norm. As per the norms, privately promoted companies are expected to have public shareholding at 25 per cent by June-end.
Strong fourth quarter earnings failed to enthuse investors holding Puravanakara Projects as it announced 50 percent interim dividend only for minority shareholders (excluding promoters). The stock fell 1.3 percent quoting Rs 103 on Thursday.
Sun Pharmaceutical Industries has fought a long battle to buyout Taro Pharma. But now following a swettened deal to buy out minority shareholders, it has managed to win over the Israel-based and US-listed company's board. But the end may not be in sight yet with already red flag against the deal from a minority shareholder.
Rules Of M&A Game: Public Shareholder Point Of View
Ashwin Mohan of CNBC-TV18 reports that Bhansali Engineering Polymers has been dragged to the Company Law Board (CLB) by its minority shareholders for alleged financial irregularities and mismanagement of funds.
Mahindra Satyam today said it may consider re-listing at the New York Stock Exchange (NYSE) after the process of merger with Tech Mahindra gets over.