The article discusses the liquidation preference right provided to financial investors by their portfolio companies and various kinds of liquidation events.
Cryogenic tank maker Inox India has filed a draft red herring prospectus with SEBI to raise funds through an IPO. The offering will comprise an offer for sale by promoters and other shareholders and will include a total of 22.11 million shares. The company operates three manufacturing facilities and reported a net profit of INR 152.71 crore ($20.6 million) in FY23.
The promoters of Ginni Global Private Limited, one of the group companies of Jaipuria group, have sold 100% of their shares held in Ginni Global to Onward Solar Power Private Limited for an undisclosed amount.
A Bench of Justices Indira Banerjee and V Ramasubramanian held that a distress sale of shares made by a former Gammon Director did not amount to insider trading.