Company news: Indian Hume Pipe new orders, Alembic Pharma raises funds

Indian Hume Pipe Company has received two Letters of Acceptance aggregating ₹234.11 crore (excluding GST) from Madhya Pradesh Jal Nigam Maryadit, Bhopal. The order is for the work of Kandaila Multi Village Rural Water Supply Scheme, District Rewa, at an amount of ₹123.72 crore; and Gadakota Multi Village Rural Water Supply Scheme, District Sagar, for ₹110.39 crore. Both the projects are on turnkey basis that include trial-run and running & maintenance of the entire scheme for 10 years. The cost of running and maintenance will be paid separately, it said. Shares of Indian Hume Pipe closed at ₹312.95, up 5.67 per cent, on the BSE.

 

Drug firm

Alembic Pharmaceuticals on Friday said it has raised ₹350 crore through allotment of non-convertible debentures (9 per cent coupon rate) on private placement basis. The funds were raised through tranches — ₹150 crore and ₹200 crore, respectively. Shares of Alembic Pharmaceuticals slipped 1.72 per cent at ₹606.95 on the BSE.