Shares of Avenue Supermarts gets listed on the stock exchanges today, 21 March 2017. The issue price was fixed at Rs 299 per share, the top end of the IPO price band of Rs 295 to Rs 299 per share. The IPO of Avenue Supermarts received strong response from investors. It was subscribed a whopping 105 times. Avenue Supermarts is an emerging national supermarket chain. The company's stores operate under the D-Mart brand, registered as a trademark under various classes of products.
HCL Technologies said that it has been chosen as the strategic IT services provider to the Volvo Ocean Race. HCL will be responsible for developing and delivering IT solutions for the 2017-18 edition of the race around the world. The Volvo Ocean Race held every three years witnesses the coming together of the best sailors across the world. The announcement was made after market hours yesterday, 20 March 2017.
Separately, HCL Technologies announced that its board approved buyback of up to 3.50 crore fully paid-up equity shares of the company at Rs 1000 per share for an aggregate amount not exceeding Rs 3500 crore. The buyback is proposed to be made from the shareholders of the company on a proportionate basis, through the tender offer route. The announcement was made after market hours yesterday, 20 March 2017.
Aurobindo Pharma announced that it has received final approval from the US Food & Drug Administration (USFDA) to manufacture Guaifenesin and Dextromethorphan Hydrobromide extended-release tablets, 600/30 mg and 1200/60mg (OTC). Aurobindo's Guaifenesin and Dextromethorphan Hydrobromide extended-release tablets are the AB rated generic equivalent of Reckitt Benckiser's Mucinex DM tablets. The product will be launched in Q1 FY2018.
Guaifenesin and Dextromethorphan Hydrobromide extended-release tablets helps loosen mucus and phlegm, and thin out bronchial secretions, making coughs more productive. The approved product has an estimated market size of $235 million for the twelve months ended December 2016, according to IRI database. The announcement was made after market hours yesterday, 20 March 2017.
Future Enterprises announced that the committee of directors of the company at its meeting held 20 March 2017, allotted of 1,406, 9.6% secured redeemable non-convertible debentures (NCDs) and 2,114, 9.6% secured redeemable NCDs aggregating to Rs 352 crore, on private placement basis. The announcement was made after market hours yesterday, 20 March 2017.
Havells India announced that it has commenced the commercial production of its plant situated at District- Kamrup(Rural), Assam, with effect from 20 March 2017. The announcement was made after market hours yesterday, 20 March 2017.
Kaveri Seed Company announced that a meeting of the board of directors of the company will be held on 27 March 2017, to consider a proposal for share buyback. The announcement was made after market hours yesterday, 20 March 2017.
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