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Tag: Bombay Stock Exchange

  • Zee Learn-THEAL merger share swap ratio revised, approved

    Zee Learn-THEAL merger share swap ratio revised, approved

    MUMBAI: A revised scheme of amalgamation of Zee Learn Limited (ZLL) with Tree House Education & Accessories (THEAL) has been approved by the Boards of Directors of both the companies.

    The revised share swap ratio of 1:1 for the merger of THEAL with ZLL was agreed upon by shareholders at a meeting on 16 August 2016. Earlier, the plan was to issue 5:3 shares of Zee Learn for each share of Tree House.

    Both ZLL and THEAL are primarily engaged into business of pre-school activities.

    The Board of Directors of ZLL at its meeting held on 23 December 2015 had approved a merger of THEAL with ZLL subject to requisite statutory and regulatory approvals.

    As a part of evaluation of financial results of THEAL for the quarter ended 31 March , 2016 and for the financial year ended 31 March, 2016, ZLL decided to keep on hold the plan and the matter was referred to the Merger Evaluation Committee (MEC).

    “MEC was authorised to look into and suggest the way forward to re-work the deal of merger to ensure consolidation of business in the best interest of the shareholders,” said ZLL in an official statement to the Bombay Stock Exchange.

    The statement went on to add that the Board unanimously approved a revised scheme (including appointed date and share exchange ratio) for the merger of THEAL with ZLL. The scheme will be implemented subject to approval of shareholders and creditors of the company and applicable regulatory authorities.

    In another statement, THEAL informed its shareholders, “Your company is trying to overcome the challenges faced in recent quarters by bringing in several cost control measure along with closing down of its non profitable centres. We believe that your company will be benefited with the merger, as the synergies arising out of amalgamation will play an important role in strengthening the company’s business and improving its operational efficiency and future outlook.”

  • Zee Learn-THEAL merger share swap ratio revised, approved

    Zee Learn-THEAL merger share swap ratio revised, approved

    MUMBAI: A revised scheme of amalgamation of Zee Learn Limited (ZLL) with Tree House Education & Accessories (THEAL) has been approved by the Boards of Directors of both the companies.

    The revised share swap ratio of 1:1 for the merger of THEAL with ZLL was agreed upon by shareholders at a meeting on 16 August 2016. Earlier, the plan was to issue 5:3 shares of Zee Learn for each share of Tree House.

    Both ZLL and THEAL are primarily engaged into business of pre-school activities.

    The Board of Directors of ZLL at its meeting held on 23 December 2015 had approved a merger of THEAL with ZLL subject to requisite statutory and regulatory approvals.

    As a part of evaluation of financial results of THEAL for the quarter ended 31 March , 2016 and for the financial year ended 31 March, 2016, ZLL decided to keep on hold the plan and the matter was referred to the Merger Evaluation Committee (MEC).

    “MEC was authorised to look into and suggest the way forward to re-work the deal of merger to ensure consolidation of business in the best interest of the shareholders,” said ZLL in an official statement to the Bombay Stock Exchange.

    The statement went on to add that the Board unanimously approved a revised scheme (including appointed date and share exchange ratio) for the merger of THEAL with ZLL. The scheme will be implemented subject to approval of shareholders and creditors of the company and applicable regulatory authorities.

    In another statement, THEAL informed its shareholders, “Your company is trying to overcome the challenges faced in recent quarters by bringing in several cost control measure along with closing down of its non profitable centres. We believe that your company will be benefited with the merger, as the synergies arising out of amalgamation will play an important role in strengthening the company’s business and improving its operational efficiency and future outlook.”

  • Subhash Chandra’s brothers step down as Siti Networks promoters

    Subhash Chandra’s brothers step down as Siti Networks promoters

    Mumbai: There’s change in the list of promoters at Siti Networks (earlier known as SitiCable). The national Indian MSO informed the Bombay stock exchange last week that – as part of a family arrangement and agreement – Jawahar Lal Goel, Laxmi Narain Goel and Ashok Kumar Goel along with their respective family members and persons acting in concert with them have been declasifeid as ‘promoters.’

    All three are brothers of Essel group (of which Siti Networks is a part) promoter Subhash Chandra. Over the past few years, Chandra has been working on separating the roles of his brothers and settling the ownership structure within the Essel Group (of which Siti Networks is a part).

    Around eight years ago, he gave independent charge to Laxmi Narain, Jawahar and Ashok Goel. Although seen as one group, the businesses are run independently. Their moving aside as promoters of Siti Networks is a continuation of the division process.

    Chandra’s two sons Punit and Amit are looking after his media interests in Zee Entertainment Enterprises with Punit functioning as the MD and Amit being given the responsibility of international sales and digital.

  • Subhash Chandra’s brothers step down as Siti Networks promoters

    Subhash Chandra’s brothers step down as Siti Networks promoters

    Mumbai: There’s change in the list of promoters at Siti Networks (earlier known as SitiCable). The national Indian MSO informed the Bombay stock exchange last week that – as part of a family arrangement and agreement – Jawahar Lal Goel, Laxmi Narain Goel and Ashok Kumar Goel along with their respective family members and persons acting in concert with them have been declasifeid as ‘promoters.’

    All three are brothers of Essel group (of which Siti Networks is a part) promoter Subhash Chandra. Over the past few years, Chandra has been working on separating the roles of his brothers and settling the ownership structure within the Essel Group (of which Siti Networks is a part).

    Around eight years ago, he gave independent charge to Laxmi Narain, Jawahar and Ashok Goel. Although seen as one group, the businesses are run independently. Their moving aside as promoters of Siti Networks is a continuation of the division process.

    Chandra’s two sons Punit and Amit are looking after his media interests in Zee Entertainment Enterprises with Punit functioning as the MD and Amit being given the responsibility of international sales and digital.

  • 3M India appoints Debarati Sen as MD; Amit Laroya elevated to 3M Korea MD

    3M India appoints Debarati Sen as MD; Amit Laroya elevated to 3M Korea MD

    MUMBAI: 3M India, the Indian subsidiary of US multinational conglomerate 3M Co., has announced the appointment of Debarati Sen as managing director of 3M India Limited and 3M Lanka Pvt. Ltd. The appointment came into with effect from 1 June 2016. Sen has taken the responsibility from Amit Laroya, who led the company for the past three years and is now moving to 3M Korea.

    In her new role, she will focus on innovation, aligning the organization closely to customer needs in the Indian marketplace. She will also look after 3M India’s local capabilities in the form of industry leading customer innovation centers, multiple manufacturing plans and top notch talent across functions positions it well for growth.

    On the occasion of her appointment, Sen, said, “Having been part of 3M for more than two decades, I am committed to building further the strong position that 3M has built over the years in India. The focus will be stronger than ever to provide innovative solutions to the Indian customer and help drive value through local technology and manufacturing. The endeavour is to work closely with the government to help realize ‘Make in India’ project a success.”

    3M India is a publicly traded company on the Bombay Stock Exchange and National stock exchange and claims to have an annual sales of Rs.2,103 cr in financial year 2015-16).

    Sen joined 3M in 1996 and has been a part of the organization for over two decades now. She has worked across various verticals and held key positions including CMO and global business director at 3M. Currently, she is the acting director of corporate sales operation at 3M’s corporate headquarters in St. Paul, USA.

    3M former MD Laroya added, “I am glad to handover this position to someone who has a proven track record both in India and the US. 3M India will benefit from her experience and leadership.”

  • 3M India appoints Debarati Sen as MD; Amit Laroya elevated to 3M Korea MD

    3M India appoints Debarati Sen as MD; Amit Laroya elevated to 3M Korea MD

    MUMBAI: 3M India, the Indian subsidiary of US multinational conglomerate 3M Co., has announced the appointment of Debarati Sen as managing director of 3M India Limited and 3M Lanka Pvt. Ltd. The appointment came into with effect from 1 June 2016. Sen has taken the responsibility from Amit Laroya, who led the company for the past three years and is now moving to 3M Korea.

    In her new role, she will focus on innovation, aligning the organization closely to customer needs in the Indian marketplace. She will also look after 3M India’s local capabilities in the form of industry leading customer innovation centers, multiple manufacturing plans and top notch talent across functions positions it well for growth.

    On the occasion of her appointment, Sen, said, “Having been part of 3M for more than two decades, I am committed to building further the strong position that 3M has built over the years in India. The focus will be stronger than ever to provide innovative solutions to the Indian customer and help drive value through local technology and manufacturing. The endeavour is to work closely with the government to help realize ‘Make in India’ project a success.”

    3M India is a publicly traded company on the Bombay Stock Exchange and National stock exchange and claims to have an annual sales of Rs.2,103 cr in financial year 2015-16).

    Sen joined 3M in 1996 and has been a part of the organization for over two decades now. She has worked across various verticals and held key positions including CMO and global business director at 3M. Currently, she is the acting director of corporate sales operation at 3M’s corporate headquarters in St. Paul, USA.

    3M former MD Laroya added, “I am glad to handover this position to someone who has a proven track record both in India and the US. 3M India will benefit from her experience and leadership.”

  • DoT takes on record spectrum sharing pact between RCom and RTL IN 800 MHz

    DoT takes on record spectrum sharing pact between RCom and RTL IN 800 MHz

    NEW DELHI: The Department of Telecommunications has taken on record 800 Mhz Spectrum Sharing in seven circles of Reliance Communications Ltd (RCom) and two circles of Reliance Telecom Limited (RTL), wholly owned subsidiary with Reliance Jio Infocomm Limited (RJIL).

    Giving this information to Bombay Stock Exchange, Reliance Communications Ltd said this was with effect from 21 April 2016.

    The development was with reference to the earlier letter dated 18 January 2016 informing sharing of spectrum in 800 MHz with RJIL.

    The Company and RTL are now able to share spectrum with RJIL in nine circles:  Mumbai, Uttar Pradesh (East), Madhya Pradesh, Bihar, Orrisa, Haryana, Himachal Pradesh, Assam and the North East.

    The DoT had in February approved sharing of active infrastructure like antenna used for transmitting mobile signals.

    It is learnt that RCom has already paid Rs 5,383.84 crores to liberalise its spectrum in 16 circles which include Delhi, Mumbai, Punjab, Himachal Pradesh, UP East and West, Gujarat, Madhya Pradesh, Kolkata and Bihar.

    A liberalised spectrum allows telecom operators to use any technology to deliver mobile service like 3G and 4G. Besides, it allows introduction of new technologies and sharing and trading spectrum with other operators for its efficient use.

    The Cabinet has earlier cleared liberalisation of spectrum allocated without auction to telecom companies – at prices recommended by the Telecom Regulatory Authority of India with the balance being collected after deriving market rate through bidding

  • DoT takes on record spectrum sharing pact between RCom and RTL IN 800 MHz

    DoT takes on record spectrum sharing pact between RCom and RTL IN 800 MHz

    NEW DELHI: The Department of Telecommunications has taken on record 800 Mhz Spectrum Sharing in seven circles of Reliance Communications Ltd (RCom) and two circles of Reliance Telecom Limited (RTL), wholly owned subsidiary with Reliance Jio Infocomm Limited (RJIL).

    Giving this information to Bombay Stock Exchange, Reliance Communications Ltd said this was with effect from 21 April 2016.

    The development was with reference to the earlier letter dated 18 January 2016 informing sharing of spectrum in 800 MHz with RJIL.

    The Company and RTL are now able to share spectrum with RJIL in nine circles:  Mumbai, Uttar Pradesh (East), Madhya Pradesh, Bihar, Orrisa, Haryana, Himachal Pradesh, Assam and the North East.

    The DoT had in February approved sharing of active infrastructure like antenna used for transmitting mobile signals.

    It is learnt that RCom has already paid Rs 5,383.84 crores to liberalise its spectrum in 16 circles which include Delhi, Mumbai, Punjab, Himachal Pradesh, UP East and West, Gujarat, Madhya Pradesh, Kolkata and Bihar.

    A liberalised spectrum allows telecom operators to use any technology to deliver mobile service like 3G and 4G. Besides, it allows introduction of new technologies and sharing and trading spectrum with other operators for its efficient use.

    The Cabinet has earlier cleared liberalisation of spectrum allocated without auction to telecom companies – at prices recommended by the Telecom Regulatory Authority of India with the balance being collected after deriving market rate through bidding

  • Den to sell entire stake in Star Den JV to Star

    Den to sell entire stake in Star Den JV to Star

    BENGALURU: Den Networks Limited (Den) has informed the bourses that it has entered into an agreement to sell its entire fifty per cent stake in its joint venture Star Den Media Services Private Limited (Star Den) to its partner Star India Private Limited (Star India). The agreement price for Den’s stake is Rs 40.35 crore. Star owns an equal share in the JV.

    At the time of filing of this report, buoyed the news of the stake sale, Den shares were up 15.20 per cent from the previous close on the Bombay Stock Exchange (BSE), with each equity share having face value of Rs 10 being traded at Rs 95.50 as compared to yesterday’s close rate of Rs 82.90 and a total traded quantity of 2.1 lakh. The intraday high price of the share was Rs 99.20. The share had opened at Rs 83.75 today at the start of the trading day. The 52 week high price of the share was Rs 169 and the 52 week low was Rs 60.50.

  • Den to sell entire stake in Star Den JV to Star

    Den to sell entire stake in Star Den JV to Star

    BENGALURU: Den Networks Limited (Den) has informed the bourses that it has entered into an agreement to sell its entire fifty per cent stake in its joint venture Star Den Media Services Private Limited (Star Den) to its partner Star India Private Limited (Star India). The agreement price for Den’s stake is Rs 40.35 crore. Star owns an equal share in the JV.

    At the time of filing of this report, buoyed the news of the stake sale, Den shares were up 15.20 per cent from the previous close on the Bombay Stock Exchange (BSE), with each equity share having face value of Rs 10 being traded at Rs 95.50 as compared to yesterday’s close rate of Rs 82.90 and a total traded quantity of 2.1 lakh. The intraday high price of the share was Rs 99.20. The share had opened at Rs 83.75 today at the start of the trading day. The 52 week high price of the share was Rs 169 and the 52 week low was Rs 60.50.