Latest news with #SchemeofAmalgamation
Mint
4 days ago
- Business
- Mint
Dalmia Bharat share price edges higher as promoter raises stake in cement company
Dalmia Bharat share price rose by over 1% during Wednesday's trading session. Keshav Power Limited, a promoter group entity associated with the cement giant, has notably enhanced its stake in the firm by purchasing 6.73 crore equity shares, which accounts for 35.90% of Dalmia Bharat's current paid-up capital. This acquisition was carried out through a Scheme of Amalgamation, which became effective on June 13, 2025, with an appointed date set for April 1, 2023. As a result of this transaction, Keshav Power's direct ownership in Dalmia Bharat Limited has grown from 0.52% to 36.42%. The acquisition was revealed in accordance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Even with the significant alteration in Keshav Power Limited's individual ownership, the total shareholding of the promoter and promoter group in Dalmia Bharat Limited stays constant at 55.84%, as the transaction represents an internal group restructuring. Keshav Power's purchase of shares in Dalmia Bharat stems from a Scheme of Amalgamation ratified by the Hon'ble National Company Law Tribunal (NCLT), Cuttack Bench. The order, issued on May 30, 2025, approved the merger of four transferor companies with Keshav Power Limited (the receiving company). The companies that were amalgamated include: Ankita Pratisthan Limited (Transferor Company 1); Mayuka Investment Limited (Transferor Company 2); Shree Nirman Limited (Transferor Company 3); and Sarvapriya Healthcare Solutions Private Limited (Transferor Company 4). Dalmia Bharat share price today opened at an intraday low of ₹ 2,060.25 apiece on the BSE, the stock touched an intraday high of ₹ 2,085.10 per share. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Dalmia Bharat share price is trading flat today and has remained under pressure throughout the week. The ongoing weakness may persist, with immediate support near ₹ 2,000. On the upside, the ₹ 2,150– ₹ 2,180 zone remains a key hurdle, and only a breakout above this range could revive positive momentum. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Standard
08-05-2025
- Business
- Business Standard
Suven Pharmaceuticals renamed as Cohance Lifesciences
Suven Pharmaceuticals announced that the Ministry of Corporate Affairs, Government of India (MCA), has approved change of name of the Company from Suven Pharmaceuticals to Cohance Lifesciences, with effect from 07 May 2025. The change of name has been carried on pursuant to the Scheme of Amalgamation. "The transition to Cohance Lifesciences marks a pivotal moment in our commitment to better serve our customers and their end market. We are building a global CDMO that aims to enable innovation across a broad range of modalities, chemistries, and technologies, to advance solutions for a healthier world " said Cohance Executive Chairman, Vivek Sharma.
Business Upturn
22-04-2025
- Business
- Business Upturn
Suven Pharmaceuticals gets nod from Department of Pharmaceuticals for foreign investment increase post merger
By Aditya Bhagchandani Published on April 22, 2025, 23:32 IST Suven Pharmaceuticals has received a key regulatory approval from the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India, paving the way for an increase in foreign investment in the company following its merger with Cohance Lifesciences. In an exchange filing dated April 22, 2025, the company confirmed that the approval pertains to the potential increase in aggregate foreign investment beyond 74% in Suven Pharmaceuticals, post the implementation of the Scheme of Amalgamation with Cohance Lifesciences. The clearance comes under the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019, and marks another milestone in the merger process. This development follows a series of approvals over the past year, including the shareholders' nod in November 2024 and the sanctioning of the merger by the National Company Law Tribunal (NCLT) in March 2025. The merger's Effective Date will be the opening business hours of the first day of the month following the fulfilment of all final conditions, as laid out in the approved scheme. The company said it will inform the exchanges about the Effective Date once all conditions are completed. Suven Pharmaceuticals emphasized its continued commitment to compliance and growth, as the merger is aimed at creating synergies and expanding capabilities in the pharmaceutical space. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
