The Hindu Business Line : Corporate developments

Coimbatore, Jan. 24 Electrotherm India Ltd has bagged orders worth $14.06 million from Istanbul, Turkey, for basic design and engineering, manufacturing, supplying and supervising erection and commissioning of induction melting furnaces, electrical and cooling systems, metal refining converter, AC ladle refining furnace, continuous casting machine, laboratory, etc for steel billet plant of two lakh tonnes per annum capacity.

Times Innovative Media Ltd (TIM), a subsidiary of Entertainment Network (India) Ltd, has announced that GS Strategic Investments Ltd (Goldman Sachs) and LB India Holdings Mauritius II Ltd (Lehman Brothers) have subscribed to equity shares of TIM for an aggregate consideration of Rs 200 crore.

The deal values TIM at over Rs 1200 crore. Goldman Sachs and Lehman Brothers have an equity stake of 8.28 per cent each in TIM. TIM is a player in the Out-of-Home media category and operates under ‘Times OOH’ brand name.

Godawari Power & Ispat Ltd has been granted prospecting license for iron-ore mines over an area of 754.83 hectares land at Dhalli Rajhara iron-ore deposits in Durg District of Chhattisgarh.

The Mineral Resources Department, Government of Chhattisgarh, has conveyed the final approval of the Union Ministry of Mines, with respect of the above iron-ore mines.

Madras Cements Ltd has informed that a meeting of the board of directors will be held on January 31 to consider a proposal for buy-back of equity shares.

Patni Computer Systems Ltd has said that a meeting of the board of directors will be held on February 5-6, to consider, among other things, a proposal for buy-back of equity shares.

Pyramid Saimira Theatre Ltd has acquired a majority stake in Aurona Technologies, a leading video games and interactive entertainment software company headquartered in London.

Mr Santosh Pillai, CEO, Aurona Technologies Ltd, will continue in his incumbent role and will also take over as Director, Pyramid Saimira Production Services Ltd, thereby integrating the operations of both the companies.

The acquisition marks the entry of Pyramid Saimira in the high-growth, high-margin animation and gaming Industry and it will be able to cross-exploit the content properties.

ATL has a development centre in Hyderabad and also has a representative office in Los Angeles.

The company delivers full game development from India for platforms such as Sony Playstation 2 console, Nintendo DS and PC.

Aurona has progressively moved up the value chain, and has built up the know-how and potential IPs in racing, lifestyle and First-Person Shooter gaming that can be leveraged internationally and in India.

PBA Infrastructure Ltd has obtained contracts from Pimpri Chinchwad Municipal Corporation for Rs 35.06 crore and from Municipal Corporation of Greater Mumbai for about Rs 116 crore.