Trackpad

Ajmera Realty Acquires 85 per cent Stake in Anirdesh Developers LLP 

Ajmera Realty & Infra India Limited has informed the bourses that it has acquired 85 per cent stake in Anirdesh Developers LLP. Both the entities belong to the infrastructure industry. The promoters of Ajmera Realty are partners and designated partners in Anirdesh Developers LLP. Thus, the transaction would fall under the definition of Related Party Transaction. Through this acquisition, Ajmera Realty intends to acquire infra projects through this subsidiary. 

The acquisition process got completed on September 6, 2018 through capital contribution. The consideration amount towards capital contribution is Rs 17 lacs. The profit-sharing ratio for the company is 85 per cent.The LLP got its Certificate of Incorporation (COI) on April 27, 2012. It was incorporated with the object to undertake infrastructure and real estate activities. However, no operations are initiated yet from the incorporation. Also, Shashikant Ajmera, a Trustee of ARIL Trust, belonging to Promoter group of Ajmera Realty has intimated for creation of pledge on 11 lakh equity shares (3.10%) of Rs 10 each of Ajmera Realty & Infra India Limited. 

Ashok Leyland Inaugurates Electric Vehicle Testing Facility In Ennore 

The company commissioned an integrated electric vehicle design, prototyping and testing facility at its Ennore plant, on Friday. The centre will serves as an in-house design, engineering and prototyping as well as testing facility for electric vehicle (EV) motors, batteries and power electronics, said the company in a release to the exchange. 

Ashok Leyland has a capacity to manufacture about 5,000-10,000 vehicles per annum, with different battery and charging options. The company is actively engaging with Indian as well as global start-ups to device innovative solution to cater the EV market when volumes see an uptick. The company is also starting new product platforms in the EV sector such as eLCV, Low Floor City Buses, and also Last Mile Connectivity and Power Solutions products. It is also exploring Business Models including eMobility as a Service (eMaaS) and eMobility as a Solution (eMSol) in line with the government’s eMobility vision.

Uflex Develops Advanced Lens Transfer Paperboard 

Leading packaging company, Uflex Limited’s Holography business segment has created a high quality Lens Transfer Paper/Paperboard for carton packaging, employing technologies of Fresnel Lens. 

This new type of packaging improved 3D effect and give more brand protection and aesthetic value to the printing on the carton. Being a direct print on the carton it also reduces lamination cost for its client. The product will be available for clients immediately and customers can register their design accordingly. It is 100 per cent biodegradable and thus eco-friendly

IPO Update 

Angel Broking files DRHP 

Angel Broking Limited, a leading broking house has filed a Draft Red Herring Prospectus (DRHP) with SEBI. The company has a network of sub-brokers with over 110 branches across 1,800 cities and towns. Angel Broking managed Rs 113,023.06 million of client assets and had over 1.11 million active broking accounts, as on June 30, 2018. 

The Initial Public Offer (IPO) comprises of equity shares of face value of Rs 10 each of Angel Broking Limited aggregating up to Rs 6,000.00 million. The IPO includes fresh issue aggregating up to Rs 3,000.00 million and an offer for sale aggregating up to Rs 208.35 million by Ashok D. Thakkar and equity shares aggregating up to Rs 31.25 million by Sunita A. Magnani, equity shares aggregating up to Rs 1,200.02 million by IFC and equity shares aggregating up to Rs 1,560.38 million by the individual selling shareholders aggregating up to Rs 3,000.00 million.The proceeds from the net issue will be utilized towards meeting the working capital requirements (Rs 2,300 million) and for general corporate purposes. 

ICICI Securities Limited, Edelweiss Financial Services Limited and SBI Capital Markets Limited are the book running lead managers to the issue. The equity shares will be listed on BSE and NSE.