Mumbai: Gujarat headquartered Nirma Group has entered into definitive agreement to acquire 75% of Glenmark Life Sciences Limited from Glenmark Pharmaceuticals Limited at an enterprise value of about INR 7,500 Crore, subject to closing adjustments. Nirma will make a mandatory open offer as per SEBI Regulations. This acquisition is subject to customary regulatory approvals. With this acquisition, the Nirma Group forays into Active Pharmaceutical Ingredient (API) platform and expands its existin...Read More

Bodakdev: The district education officer (DEO) of Ahmedabad city has instructed Karsanbhai Patel-led Nirma Group-run Nirma Vidyavihar School in Bodakdev to refund the extra fees charged to parents. The DEO had received complaints from parents and issued a notice to the school on April 10 for raising its fees without the consent of the fee regulatory committee (FRC). The private school had allegedly increased its annual fees by 40% without seeking approval from the FRC. The order states tha...Read More

Amdavad: The district education officer (DEO) of Ahmedabad issued a show-cause notice to Nirma Vidyavihar School (a private school in Bodakdev) for increasing annual fees by 40% without the consent of the school fees regulatory committee (FRC). The school had increased the fees from Rs 89,000 to Rs 1.24 lakh for the academic year 2023-24, whereas the FRC rules allow a maximum increase of 5%. The FRC has not approved any fee increase applications up till now. Despite this, the school has still...Read More

Ahmedabad: The Gujarat High Court today issued a notice to Ahmedabad Urban Development Authority (AUDA) on a PIL which contended that the urban body took no action against a school which encroached upon a public park and playground. The division bench headed by Chief Justice R Subhash Reddy issued the notice to AUDA and sought its reply on the status of the land which was shown in its final town-planning scheme as a "park and playground" and posted the matter for hearing on January 17. Pet...Read More

Bhavnagar: At least two workers died and three others injured in an accident inside the Nirma plant in Bhal area of Bhavnagar district in Gujarat today. An official from the industrial safety department said that a blast occurred in the raw material department of the plant situated on Bhavnagar-Ahmedabad high way while some of the workers were involved in welding of an oil tanker there. At least five workers sustained injury in the incident of whom two identified as Rajkumar...Read More

Mumbai: Detergent major Nirma, which in July had agreed to buy the cement business of the French major Lafarge India, today raised Rs 4,000 crore debt to fund the deal, making it the largest rupee bond sale for a leveraged buyout. "The Rs 4,000-crore five-year bond sale by Nirma offers a yield of 8.68 per cent was oversubscribed 1.5 times. This is the largest rupee bond sale for a leveraged acquisition as also the largest AA-rated debt instrument," investment banking sources told PTI here. ...Read More

Mumbai:Domestic detergents major Nirma, which today agreed to buy cement business of French major Lafarge for USD 1.4 billion, will be hitting the market with a Rs 4,000-crore bond issue to part fund the acquisition. "Nirma will be raising Rs 4,000 crore from the market to part fund the Lafarge cement acquisition. When completed this will be largest rupee bond issue to fund an acquisition in the country. The issue will hit the market shortly," two merchant banking sources told PTI here. Th...Read More