Asian Granito: Asian Granito India Ltd. board meet to be held on Tuesday to consider and approve funds raising proposal by way of issue of preferred equity shares. Stake holders are keen to know the size and number of shares to be offered and whether it will be offered to promoters or QIP and at what prices.
HUL: Hindustan Unilever approves merger with GSK Consumer and the transaction is expected to be completed in one year subject to regulatory and shareholder approvals. The transaction is an all equity merger with 4.39 shares of HUL being allotted for every share in GSK CH India. The acquisition is in line with the Hindustan Unilever strategy to build a sustainable and profitable foods and refreshment (F&R) business in India by leveraging the mega trend of health and wellness. GSK Consumer Healthcare India is the market leader in the HFD category, with iconic brands such as Horlicks and Boost, and a product portfolio supported by strong nutritional claims. The brand owned by GSK SH India including Boost, Viva and Maltova will be retained by merged entity. GSK Plc (including group companies) will retain 5.7% in the merged company and Unilever will hold 61.9% post-merger from its current holding of 67.2%
India Cements: India Cements has acquired the controlling stake of 51 per cent of Springway Mining, thereby Springway Mining has become subsidiary of our company.
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