Mercedes-Benz launches SLK 55 AMG for R1.26 cr
Mercedes-Benz on Monday launched the high-performance version of its SLK convertible, the SLK 55 AMG, in India. Priced at R1.26 crore (ex-showroom, Delhi), the car is powered by a 5.5-litre, V8 AMG engine.
SpiceJet allots 1.5 crore shares to promoter Maran
Low-cost carrier SpiceJet has alloted 1.5 crore equity shares to its promoter Kalanithi Maran after an equal number of warrants worth R54.27 crore were converted. "The company on November 30 allotted 1,50,00000 equity shares of R10 each, to Kalanithi Maran, pursuant to exercise of conversion right attached to 1,50,00000 warrants issued on preferential basis, at an issue price of R36.18 per equity share, in accordance with the Sebi," Spicejet said in a filing to the BSE. The overall holding of the promoters in the airline stood at 52.14% at the end of the September quarter.
Apollo Tyres closes sale of S African business
Apollo Tyres said Monday it has closed the transaction for sale of its South African business, along with a passenger car tyre plant, to Sumitomo Rubber Industries in a deal valued at $60 million. In a statement, the company said it has closed the transaction with Sumitomo Rubber Industries (SRI), wherein SRI takes over Apollo Tyres South Africa (ATSA).
Idea to seek shareholders’ nod for raising md’s pay
Aditya Birla Group company Idea Cellular said it would seek shareholders’ approval to increase the remuneration payable to managing director Himanshu Kapania with effect from July 1, 2012, in an extraordinary general meeting on December 26 . The company seeks to raise the ceiling on Kapania's basic pay by 100% to R20 lakh per month, and the ceiling amount of special allowance by 66% to R20 lakh per month. The company is also seeking shareholders’ approval to increase FII investment limit in the company to 49% from 24% of the paid-up equity capital at present.
Indiabulls cos issue 29 cr warrants to promoters
Indiabulls Securities informed the BSE on Monday that the board of directors of the company has issued and allotted an aggregate of 5.82 crore warrants, convertible into an equivalent number of equity shares of face value R2 each, to the promoters, promoter group entities and one of the whole-time directors. In a separate filing, Indiabulls Infrastructure and Power, another Indiabulls company, said its board of directors has issued and allotted an aggregate of 23.53 crore warrants, convertible into an equivalent number of equity shares of face