Nuvo in stake buy

Mumbai, Aug. 28: Aditya Birla Nuvo will acquire a 56 per cent stake in retail broking firm Apollo Sindhoori Capital Investments for Rs 198.8 crore. “The strategic intent of this agreement is to position Aditya Birla Financial Services Group as an integrated player in the financial services business,” Aditya Birla group CEO (financial services), Ajay Srinivasan said.

IPO payment

Mumbai, Aug. 28: Sebi has made an alternative payment system for public issues effective from next month, which will ensure that the money of such investors is not blocked unless shares are actually allotted to them.

RIL gas move

New Delhi, Aug. 28: The directorate general of hydrocarbons has concurred with Reliance Industries’ (RIL) proposal to transfer 80 per cent of its stake in the D6 gas field to its four unlisted subsidiaries.

Tech Mahindra

Mumbai, Aug. 28: Tech Mahindra has signed an agreement to acquire a minority equity stake in European systems integrator, Servista. Tech Mahindra will be Servista’s delivery arm for three years and will assist the company in securing more European IT-offshoring business.

Dishman SEZ

Mumbai, Aug. 28: Drug maker Dishman Pharmaceuticals will invest Rs 500 crore in two SEZs and has completed acquisition of 390 acres in this regard.