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Ruia group’s stake in Dunlop may decline to 38% from 65%

The holding of promoters led by Pawan Kumar Ruia in Dunlop India will be reduced to 38.53% if the proposal to issue five crore fresh shares to offset a Rs60 crore inter-corporate loan goes through, reports PTI.

Post-allotment, the Ruia group’s control (the existing promoters) will be slashed from 65.29% to 38.53%, Mr Ruia, the group chairman told PTI.

The loan was taken for working capital requirements and the allotment to these entities would help in better restructuring of the […]

KKR, Goldman Sachs to invest Rs 269 crore in TVS Logistics

Private equity firm Kohlberg Kravis Roberts & Co (KKR) and Goldman Sachs will invest Rs 269 crore in TVS Logistics Services to help it expand business, the three companies said on Thursday.

KKR and its affiliates would invest Rs 242 crore in the unlisted third-party logistics operator while Goldman Sachs will pour in the remaining Rs 27 crore, the companies said.

“The additional investment will allow TVS Logistics to continue expansion, both through acquisitions and organic growth,” said R. Dinesh, […]

Kajaria acquires 51% stake in Vennar Ceramics

Kajaria Ceramics has acquired 51 per cent stake in Vennar Ceramics, a subsidiary of Anjani Portland Cement (APC), by way of subscribing to fresh equity share capital of the company for Rs. 13.65 crore.

Kajaria Ceramics chairman Ashok Kajaria said: “This is the first acquisition by Kajaria in South India. Vennar is putting up a brand new plant which would start commercial production in June 2012”.

This will help Kajaria to cater to the southern markets from this plant enabling […]