MERGERS & ACQUISITIONS
Amalgamation of SGS Infosystems, SGS Tekniks, and Syrma SGS Technology Limited Syrma SGS Technology Limited has announced the approval of its amalgamation scheme with SGS Infosystems Private Limited (“Transferor Company No. 1”) and SGS Tekniks Manufacturing Private Limited (“Transferor Company No. 2”). The National Company Law Tribunal (NCLT), Mumbai, issued its order on December 4,…
UFLEX Limited Acquires Additional Stake in Amplus Phoenix Energy Private Limited UFLEX Limited is set to increase its equity stake in Amplus Phoenix Energy Private Limited (“Amplus Phoenix”). Incorporated in 2021 in India, Amplus Phoenix focuses on the establishment, generation, and distribution of solar power. Although the company has not yet generated turnover from its…
Indian Metals & Ferro Alloys Limited (IMFA) signed a binding term sheet with JSW Green Energy One Ltd. (Solar) and JSW Green Energy Seven Ltd. (Wind) on December 17, 2024. The agreement secures a supply of 70 MW of hybrid renewable power, combining 50 MW AC solar capacity and 100 MW wind capacity, under a…
The Board of Directors of Ambuja Cements Limited approved a Scheme of Arrangement on December 17, 2024, for the amalgamation of Sanghi Industries Limited with Ambuja Cements Limited. Ambuja Cements, the promoter of Sanghi Industries, currently holds 58.08% of its equity share capital and 100% of its 8% non-convertible cumulative redeemable preference shares. Key Details…
Minda Corporation Limited and HSIN CHONG MACHINERY WORKS CO., LTD (“HCMF”) have established a joint venture named MINDA-HCMF TECHNOLOGIES PRIVATE LIMITED. Both companies will equally contribute 50% of the share capital in cash. Incorporated in India on December 16, 2024, the joint venture aims to develop, manufacture, assemble, and commercialize automotive sunroof solutions, closure technology…
Happiest Minds Technologies Limited has announced the merger of Aureus Tech Systems LLC (Aureus) with Happiest Minds Inc., effective December 14, 2024. Aureus, a wholly owned subsidiary of Happiest Minds Inc., was acquired on May 27, 2024. Happiest Minds Inc., based in the USA, operates as a wholly owned subsidiary of Happiest Minds Technologies Limited….
Trident Limited’s Board of Directors has given in-principle approval for the restructuring of its overseas subsidiaries. The restructuring aims to simplify the company’s structure, optimize costs, and support further business growth through several key actions: Sale of Existing Subsidiaries: Trident Limited will sell its shareholdings in Trident Global Inc. (USA) and Trident Europe Limited (UK)…
Bikaji Foods to Amalgamate with Vindhyawasini Sales Private Limited Bikaji Foods International Limited (“Bikaji Foods”) has announced its amalgamation with Vindhyawasini Sales Private Limited (“Vindhyawasini Sales”). The merger is being executed under Sections 230 to 232 of the Companies Act, 2013, and its related rules. Key Details of the Amalgamation: Court Approval:The National Company Law…
Bhartia Family Acquisition of Hindustan Coca-Cola Beverages (HCCB) The Bhartia family, leading the Jubilant Bhartia Group, is set to make a significant entry into India’s beverage market with the acquisition of a 40% stake in Hindustan Coca-Cola Beverages (HCCB), the exclusive bottling arm of Coca-Cola India. This acquisition, valued at Rs 12,500 crore, represents the…
Strides Pharma Science Limited Demerger The National Company Law Tribunal (NCLT), Mumbai Bench, approved the Scheme of Arrangement between Strides Pharma Science Limited (“Strides”), Steriscience Specialities Private Limited, and Onesource Specialty Pharma Limited (“Onesource”) on November 14, 2024. This scheme facilitates the demerger of certain business units from Strides and Steriscience into Onesource. Highlights of…