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Maxwell Industries has completed the transaction of sale of its processing unit at Sipcot, Perundurai, Erode, Tamil Nadu, upon receipt of balance consideration of ₹4.34 crore on September 19. The total consideration for the transaction was ₹4.44 crore, according to the terms and conditions set out in the business transfer agreement, it said in a notification to the exchanges. Earlier, in February, the company had informed the exchanges that it had entered into an MoU with WFB Baired & Company (India) Pvt Ltd for sale of the processing unit for a consideration of ₹4.90 crore. Shares of Maxwell Industries gained 0.85 per cent at ₹65.55 on the NSE.
The board of Vardhman Textiles will meet on September 24 to consider a proposal to buy back fully paid-up equity shares of the company. Shares of Vardhman Textiles closed 0.35 per cent lower at ₹960.85 on the NSE.
Capital First will raise ₹100 crore by issuing non-convertible debentures (NCDs) on private placement basis. The board of directors on Tuesday approved issuance of secured and redeemable NCDs of ₹25 crore, plus a greenshoe option of ₹75 crore on private placement basis, the company said in a regulatory filing. The bonds will be available in three tenures — three, five and 10 years — with coupon rates of 8.65 per cent, 8.70 per cent and 8.75 per cent, respectively. The stock closed 1.37 per cent higher at ₹678.85 on the BSE
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