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The EGM will consider an ordinary resolution of the appointment of an independent forensic auditor for conducting a forensic audit to investigate and verify the expenses incurred by KBL on legal, professional consultancy charges over the past six years and the affairs of the company. The investigation would verify all records, books of accounts, minutes books, and other documents of the company.

Rekhi and other promoters currently hold 52% stake in R Systems, which Blackstone will acquire for Rs 245 per share

The IPO will include a fresh issue of shares worth up to Rs 1600 crore

Further, in One 97 Communications (Paytm), SVF India (SoftBank Group) sold 4.5% stake worth Rs 1,631 crore, showed NSE bulk deals data

The Dow Jones Industrial Average fell 224.6 points, or 0.67%, at the open to 33329.27

Citigroup is the banker to the deal, and TPG Capital is likely to sell the shares at Rs 184.55, a 0.6% discount to Thursday’s close price of Rs 185.60.

British banking stocks rallied, while shares in the power sector came under pressure after Hunt announced a windfall tax on oil and gas firms and extended it to power generation firms.

According to Sebi, the time period for the buyback process can be reduced to 66 working days starting from April 2023 and further cut it down to 22 working days from April 2024. Finally, the open market option can be closed down for buyback offers from April 2025.

IHH Healthcare Managing Director and CEO Kelvin Loh had stated: "With the recent Supreme Court judgement ruling making clear that we have conducted our investment into Fortis in a fair and transparent manner, we are discussing with Sebi to move ahead with the offer."

The construction of the complex, to produce up to 3.2 million tonnes per year (tpy) of petrochemicals, will begin in 2023 and be completed by 2026, Aramco said. The chemicals-to-crude unit will have a capacity of 46,000 barrels per day while the capacity of the cracker unit is 1.8 million tpy.