Bank of India, Lemon Tree Hotels, Veranda Learning Solutions in focus

26 Apr 2022 , 08:39 AM

Bank of India: The bank said its board of directors considered and approved the capital raising plan upto Rs.2,500 crores by issue of fresh equity capital in the form of QIP / FPO / preferential issue.

Lemon Tree Hotels: The company has signed a license agreement for a 60 room hotel at Kharar, near Chandigarh under the companys brand Lemon Tree Hotel. The hotel is expected to be operational by November, 2025.

Veranda Learning Solutions: The company announced that it has signed a definitive agreement to acquire T.I.M.E. (Advanced Educational Activities Pvt Ltd) for a consideration of Rs. 287 crore. T.I.M.E. is Indias leading test-prep institute with a pan-India presence operating through 188 centres including franchisees spread across 98 cities in India.

Hubtown: A meeting of the board of directors of the company, is scheduled to be held on 28 April 2022 to consider and approve the issue of securities (convertible warrants) on preferential allotment basis to persons forming part of promoter and promoter group. Also the board will consider raising of funds by issue of equity shares by way of a rights issue to the eligible equity shareholders.

Avantel: The company said its board will consider bonus issue of shares on 6 May 2022. The board will also consider Q4 March 2022 results and recommend dividend for the financial year 2021-22.

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