Gruh Finance, Bandhan Bank in focus after merger deal

Shares of Gruh Finance and Bandhan Bank will be in focus. The board of Gruh Finance at its meeting held on 7 January 2019 has approved a scheme of amalgamation between Gruh Finance (transferor company) and Bandhan Bank (transferee company). Shareholders of Gruh Finance will receive 568 shares of Bandhan Bank for every 1,000 shares held. The announcement was made after market hours yesterday, 7 January 2019.

Exide Industries has agreed to invest upto 30% of total equity share capital in each of the three special purpose vehicle(s) viz., "CSE Solar Sunpark Haryana Private Limited", "CSE Solar Sunpark Maharashtra Private Limited" and "Greenyana Solar Private Limited" (hereinafter collectively called as ''Cleantech'') aggregating upto Rs 20.05 crore for setting up captive solar power projects for various manufacturing facilities of the company. The announcement was made after market hours yesterday, 7 January 2019.

Syndicate Bank's board of directors has approved for issuance and allotment of requisite equity shares through preferential allotment to the Government of India against the amount of Rs 1632 crore received from them. The announcement was made after market hours yesterday, 7 January 2019.

Prabhat Diary has entered into animal nutrition business. The company has taken preliminary steps by executing agreement with DLG, Denmark for developing two products in Denmark for improvement of health and to increase mil productivity and quality of cattle. The announcement was made after market hours yesterday, 7 January 2019.

Endurance Technologies said that Endurance Overseas Srl., Italy (EOSrl), a subsidiary of the company and the special purpose vehicle for strategic overseas investments, has acquired the entire equity stake in Fonpresmetal Gap SpA (Fonpresmetal), an aluminum die casting company in Italy. The effective date of this acquisition is 7 January 2019. The announcement was made after market hours yesterday, 7 January 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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