Bessemer India Capital OGPL sold 60,50,352 shares in Orient Green Power (representing 0.8 percent of its total paid up equity) at Rs 2.84 per share
The bank on January 23 had sold more than 12 lakh shares of SICAL Logistics, bringing its stake to around 8 per cent.
"Yes Bank Ltd has, pursuant to invocation of pledge of shares, acquired 60,00,000 equity shares having nominal value of Rs 10 per share, constituting around 10.25 percent of the post-issue paid-up share capital of a listed company, namely, Sical Logistics Ltd," the lender said in a regulatory filing.
The company has taken necessary steps to address the situation and confident of correcting the same shortly.
In order to pay off its debts and to run major businesses of the company in a smooth manner, the board of the company in August directed the management to explore opportunities to deleverage the company and its subsidiaries.
Coffee Day Enterprises as well as Sical Logistics have been rangebound after a steep fall in August following the death of VG Siddhartha.
Coffee Day Enterprises (CDE) owns Café Coffee Day, India's largest cafe chain that operates 1,750 outlets across the country.
The current market capitalisation stands at Rs 3,254.33 crore, declining sharply from Rs 7,690.6 crore hit in January 2018.
The company's operating profit (EBITDA) increased 41 percent at Rs 44 crore and EBITDA margin rose 340 bps at 18 percent.
The board has approved the proposal to initiate the process to acquire majority equity stake in a company in the express logistics business with an annual revenue of Rs 40 crore.
Ashwani Gujral of ashwanigujral.com is of the view that Sical Logistics may test Rs 350 and Chambal Fertilisers may hit Rs 160 while Sun TV will do much better than what Zee is doing.
Sical Logistics’ Q4 consolidated net profit was up 75.3 percent at Rs 16.3 crore versus Rs 9.3 crore.
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On February 9, 2017 Gagandeep Credit Capital Pvt. Ltd. bought 9,10,000 shares of Sical Logistics at Rs 232.31.
The contract has to be performed over a period of 4 years at a value of Rs 304.92 crore.