Torrent Power has inked a share purchase agreement with Blue Diamond Properties Pvt Ltd and Balrampur Chini Mills to acquire 100 per cent stake in a 25 MW solar power plant at an enterprise value of ₹163 crore. The company will acquire 100 per cent stake of Visual Percept Solar Projects Pvt Ltd, a special purpose vehicle (SPV). While Blue Diamond Properties holds 55 per cent stake in Visual Percept, Balrampur Chini Mills holds 45 per cent, Torrent Power said in a statement. According to the statement, the SPV operates 25 MW solar power plant in Gujarat.
Quess Corp Limited has signed a share subscription agreement and amended shareholders' agreement with Heptagon Technologies Private Limited and Vijayramkumar Veeraraghavan, Vignesh Rangasamy and Rajesh Sankarappan (Promoters). Following the agreement, the company has agreed to make an additional investment in Heptagon through subscription of 6,342 equity shares for a consideration of ₹15,768 a share, aggregating to 10 crore.
Meanwhile, the board has approved the resignation of Krishna Suraj Moraje as the Managing Director and Group CEO of the company with effect from February 10. The board has appointed Guruprasad Srinivasan as an Additional Director designated as Executive Director and Group Chief Executive Officer of the company from February 10.
Burger King India has launched qualified institutional placement. The board of directors has set SEBI floor price as ₹136.05. It may be recalled that the fast food brand Burger King's board on December 15 had approved fundraise of up to ₹1,500 crore through issuance of securities.
GE Power India has sold its complete investment of 26,65,000 equity shares having face value of ₹10 in Alstom Systems India Private Limited to Alstom Transport SA (not a related party) at an all-inclusive consideration of ₹2.66 crore.
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