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BSE Daily Announcements

CG Power & Indu.
Tube Investments of India announced that in terms of the securities subscription agreement, the Board of CG Power & Industrial Solutions at its meeting held on 26 November 2020 has allotted the following securities to Tube Investments of India :

(a) 64,25,23,365 (Sixty Four Crore Twenty Five Lakh Twenty Three Thousand Three Hundred Sixty Five) equity shares of the face value of Rs.2/- (Rupees Two only) each (“Equity Shares”) at a price of Rs.8.56/- (Rupees Eight decimal Five Six only) (including premium) per Equity Share, for an aggregate consideration of Rs.550,00,00,004/- (Rupees Five Hundred Fifty Crore and Four only); and

(b) 17,52,33,645 (Seventeen Crore Fifty Two Lakhs Thirty Three Thousand Six Hundred Forty Five) warrants (“Warrants”), each carrying a right exercisable by the Company as the Warrant holder to subscribe to 1 (one) Equity Share per Warrant within 18 (eighteen) months from allotment, for a subscription amount of Rs.37,50,00,000.25 (Rupees Thirty Seven Crore Fifty Lakh decimal Two Five), being 25% (twenty five per cent) of the aggregate consideration payable for subscribing to Equity Shares upon exercise of the Warrants.

Consequent to the aforesaid allotment of Equity Shares, the Company has acquired a controlling interest and holds 50.62% (fifty decimal six two per cent) of the issued, subscribed and paid up equity share capital of CG Power and that CG Power has, therefore, become a subsidiary of Tube Investments of India, with effect from today i.e. 26 November 2020.

Further, with effect from today i.e. 26 November 2020, the Company, viz. Tube Investments of India, has been classified as the ‘promoter' of the CG Power and the board of directors of CG Power has been reconstituted pursuant to the terms of the Subscription Agreement.

Gillette India
Gillette India announced that the National Anti-Profiteering Authority (NAA) has uploaded an order dated 23 November 2020 on their official website on 25 November 2020. The Company is a respondent in the said matter.

The said order inter alia alleges that the Company has profiteered to the tune of Rs. 57,99,37,416/- and directs the Company to deposit the profiteered amount with interest in Consumer Welfare Funds. It's the position of the Company that it has passed on the net benefit of the reduced GST rates to its recipients and has not profiteered from it. The Company is reviewing the said order and will take appropriate steps in due course.

There is no material impact on the Company due to the said order.

Kesoram Inds.
Kesoram Industries will hold a meeting of the Board of Directors of the Company on 30 November 2020.
M & M
Mahindra & Mahindra signed a Share Subscription Agreement for subscribing to the following securities of TVS Automobile Solutions (TASL)-

• Series IV Compulsorily Convertible Preference Shares (Series IV CCPS) resulting in the Company acquiring 2.76% of the share capital of TASL on a fully diluted basis and

• Series V Compulsorily Convertible Preference Shares (Series V CCPS) with an earn-out right to increase the stake of the Company in TASL. The number of equity shares upon conversion would depend upon the milestones to be achieved upto 31 March 2024.

Raymond has allotted 400, 8.85% Secured Listed Rated Redeemable Non-Convertible Debentures (Series O) of Face Value Rs. 10,00,000 each at par, aggregating to Rs. 40 crore on Private Placement.
The Board of Siemens at its meeting held on 25 November 2020 has approved the following change in directorate:

Cessation of Mariel von Schumann as Director of the company.

Resignation of Cedrik Neike, Special Director (Nominee of Siemens AG) with effect from 30 November 2020.

Appointment of Matthias Rebellius as an Additional Director and as Special Director (Nominee of Siemens AG) with effect from 01 December 2020.

Jubilant Life
Jubilant Life Sciences has issued commercial paper of Rs 90 crore on 26 November 2020.
Jayabharat Cred.
Jayabharat Credit announced that the Annual General Meeting (AGM) of the company will be held on 23 December 2020.
Shriram Trans.
Shriram Transport Finance Company has allotted 951 senior, secured rated, listed principal protected market linked redeemable Non-convertible debentures (NCD) of face value of Rs.10,00,000 each aggregating Rs 95.10 crore on private placement basis on 25 November 2020.
Modern Steels
Modern Steels announced that the 46th Annual General Meeting (AGM) of the company will be held on 28 December 2020.