The sale is being proposed in order to enhance liquidity and broaden institutional participation in the company, which has a market capitalisation of ₹21,930 crore on the exchanges.
The board of directors has proposed a final dividend of ₹6.70 per share (67%) for FY25
The contract under process is the ₹10,000 crore contract for the supply of 5,150 electric buses, which was awarded on 7 July 2023 to a consortium headed by Evey Trans Pvt. Ltd. and Olectra Greentech in a 12-year deal.
Furthermore, Shriram AMC said that the Board will be restructured to include Sanlam’s representatives.
Gangwal stepped down from the board of InterGlobe Aviation in 2022. At that time, he stated that he plans to reduce his stake in phases.
The business also said that the board of directors recommended a dividend of ₹35 per share. However, details not disclosed yet.
UltraTech Cement, ITC, NTPC and Grasim Industries were the top losers in the Nifty pack of stocks.
RateGain increased its global headcount to 821 professionals at the quarter end and attrition remained manageable at 10.5%, speaking to stable workforce management.
The quarter posted an EBITDA of ₹41.6 crore in Q4FY20, a 7.55% decrease from last year’s ₹45 crore
The business announced a 76% year-on-year growth in its net profit for Q4FY25 at ₹268 Crore. In the year-ago period.
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