COR­PO­RATE

India Business Journal - - NEWS ROUND-UP -

Kurl-On lines up Rs 200cr ex­pan­sion

Kurl-On plans to in­vest Rs 200 crore in in­no­va­tion and new tech­nol­ogy to dou­ble its prod­uct port­fo­lio in the next two years. The mat­tress-maker is also look­ing at con­sol­i­dat­ing the brand's growth in home fur­ni­ture and fur­nish­ing seg­ment. The com­pany, which an­nounced the launch of STR8 Tech­nol­ogy for its mat­tresses last month, has said that it will rapidly ex­pand re­tail pres­ence across the coun­try to 2,000 stores by 2020. This will be done through both multi-brand and fran­chise out­lets as well as its two ex­clu­sive brand out­lets - Kurl-On Homes and Home Kom­fort by Kurl-On.

Aurobindo to buy San­doz US' as­sets for Rs 6,500 cr

Aurobindo Pharma has signed a de­fin­i­tive agree­ment to ac­quire cer­tain as­sets from San­doz USA, a No­var­tis di­vi­sion, for $900 mil­lion (around Rs 6,500). The pro­posed ac­qui­si­tion com­prises der­ma­tol­ogy busi­ness and a port­fo­lio of oral solid prod­ucts, along with com­mer­cial and man­u­fac­tur­ing in­fra­struc­ture in the US. The ac­qui­si­tion will be on debt-free and cash-free ba­sis and will be made through its wholly-owned sub­sidiary. Over­all, the trans­ac­tion will po­si­tion Aurobindo as the sec­ond-largest der­ma­tol­ogy player and the sec­ond-largest gener­ics com­pany in the US by pre­scrip­tions. The trans­ac­tion is ex­pected to close in the course of 2019 fol­low­ing the com­ple­tion of cus­tom­ary clos­ing con­di­tions, in­clud­ing FTC clear­ance.

Uflex makes on­line foray with FLEX-BuzzR

FlexFilms, a global film man­u­fac­tur­ing sub­sidiary of Uflex - In­dia's largest, multi­na­tional, flex­i­ble pack­ag­ing-so­lu­tions com­pany - has launched a first-of-it­skind, e-com­merce web­site FLEX-BuzzR. The new web­site will make avail­able a com­plete range of films from FlexFilms' Poland plant to its Euro­pean Union cus­tomers at a click of a but­ton. This uniquely-de­signed B2B plat­form lives up to its tagline - Shop At Ease, Shop When You Please. The web­site was un­veiled by FlexFilms In­ter­na­tional ViceChair­man and CEO Anantshree Chaturvedi at the renowned Euro­pean trade ex­hi­bi­tion, FachPack 2018, in Ger­many last month. FLEXBuzzR is in­tended to sup­ple­ment FlexFilms' ex­ist­ing brick-and-mor­tar busi­ness model.

An­gel files pa­pers for Rs 600-cr IPO

An­gel Broking has filed its draft pa­pers with the SEBI to launch a Rs 600-crore pub­lic

is­sue. The ini­tial pub­lic of­fer (IPO) com­prises a fresh is­sue ag­gre­gat­ing up to Rs 300 crore and an of­fer-for-sale worth Rs 120 crore by In­ter­na­tional Fi­nan­cial Cor­po­ra­tion and an­other Rs 156.03 crore by in­di­vid­ual share­hold­ers. Be­sides, pro­mot­ers Ashok D Thakkar and Su­nita A Mag­nani will also sell shares worth

Rs 20.83 crore and Rs 3.12 crore re­spec­tively. The pro­ceeds from the is­sue will be utilised to meet work­ing cap­i­tal re­quire­ments and gen­eral cor­po­rate pur­poses, the bro­ker­age has re­vealed in its draft pa­pers.

CLP picks 49% in Su­zlon's 2 so­lar plants

CLP In­dia, a wholly-owned sub­sidiary of Hong Kong­based CLP Hold­ings, has ac­quired 49 per cent stake each in two of Su­zlon's so­lar projects - Gale So­lar­farms and Tor­nado So­lar­farms - in Dhule, Ma­ha­rash­tra. The

to­tal ca­pac­ity of the two com­mis­sioned projects is 70 mw. The power-pur­chase agree­ment for the so­lar plants has a fixed tar­iff for 25 years at Rs 4.11 per unit for the 20-mw project and Rs 3.66 per unit for the 50-mw plant with So­lar En­ergy Cor­po­ra­tion of In­dia to off­take the power. CLP In­dia has the op­tion to ac­quire the bal­ance stake of 51 per cent each in these projects.

Sch­wing Stet­ter to set up new plant in TN

Sch­wing Stet­ter's wholly-owned

In­dian sub­sidiary plans to set up its sec­ond man­u­fac­tur­ing fa­cil­ity in Sip­cot in­dus­trial area, Chey­yar, in Tamil Nadu (TN) at an in­vest­ment of Rs 350 crore. The new fa­cil­ity, spread over 53 acres, will be lo­cated 60 km away from the ex­ist­ing fa­cil­ity. The ex­ist­ing fa­cil­ity, with an in­stalled ca­pac­ity to pro­duce 8,500 units of dif­fer­ent prod­ucts, is work­ing full steam and pro­duc­ing around 9,000 units per year. Hence, the Ger­man con­crete equip­ment man­u­fac­turer is cre­at­ing a new fa­cil­ity. The com­pany man­u­fac­tures con­crete batch­ing plants and con­crete mix­ers for trans­port­ing ready­made con­crete to con­struc­tion sites.

In­dia has 3rd high­est num­ber of fam­ily firms

In­dia has the third-largest num­ber of fam­ily-run busi­nesses in the world after the US and China, ac­cord­ing to a re­port by Credit Suisse. The coun­try has 111 fam­i­ly­owned busi­nesses with a com­bined mar­ket cap­i­tal­i­sa­tion of $839 bil­lion. In­dian com­pa­nies, owned by fam­i­lies, gen­er­ated aver­age an­nual re­turns of 13.9 per cent since 2006, more than dou­ble the 6 per cent re­ported by com­pa­nies that were not owned by fam­i­lies. A look at the best-per­form­ing, fam­ily-owned com­pa­nies in Asia in­di­cates that more than 15 of the top 30 are from In­dia. This is nearly twice the share of In­dian fam­ily-owned com­pa­nies in the en­tire Non-Ja­pan Asian uni­verse.

In­fosys to snap up Fin­land's Flu­ido

In­fosys will be ac­quir­ing Flu­ido, a Fin­land-based com­pany with pres­ence in the Nordic re­gion. In­dia's sec­ond-largest soft­ware ex­porter has not dis­closed the size of the deal. In­fosys has said in a state­ment that the ac­qui­si­tion is ex­pected to close dur­ing the third quar­ter of FY19. This is the sec­ond ac­qui­si­tion by In­fosys since Salil Parekh took over in Jan­uary. Ear­lier in April, it had ac­quired Wong­doody, an award­win­ning creative agency in the US. This ac­qui­si­tion will align with In­fosys' ef­forts to in­vest in lo­cal ca­pa­bil­i­ties in

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.