SpiceJet promoter Ajay Singh will infuse ₹500 crore into the airline- a move that will help boost its financial position amid multiple headwinds. The fresh equity infusion will help the carrier in accessing additional credit facilities of ₹206 crore under the Emergency Credit Line Guarantee Scheme (ECLGS), it said in a statement on Wednesday.
The board of Birla Estates Private Limited (BEPL), a wholly owned subsidiary of Century Textiles and Industries Ltd, has approved the acquisition of a land parcel situated at Kalwa, Maharashtra, from Hindalco Industries Limited for ₹595 crore to be paid over time in multiple tranches and 1.5 per cent of the sales revenue.
Power Finance Corporation (PFC) has filed a draft shelf prospectus for raising up to ₹10,000 crore through non-convertible debentures. Of the net proceeds, at least 75 per cent will be utilised for onward lending, financing/refinancing the company’s existing debt and the balance for general corporate purposes.
Dr Reddy’s Laboratories on Wednesday said its biologics license application for its proposed biosimilar rituximab candidate has been accepted for a substantive review by the USFDA. This closely follows the acceptance of the rituximab biosimilar dossier for review by two other regulatory agencies -- the European Medicines Agency (EMA) and the UK’s Medicines and Healthcare products Regulatory Agency (MHRA).
Patanjali Foods on Wednesday said the offer for sale (OFS) by one of its promoters, Patanjali Ayurved, at a floor price of ₹1,000 a share, will open on Thursday (for non-retail investors) and on Friday (for retail investors). Patanjali Ayurved plans to sell up to 9 per cent of its stake to meet the minimum public shareholding norm. The floor price is at a steep 18.36 per cent discount to its Wednesday’s closing price of ₹1,225 on BSE.
Life Insurance Corporation’s shareholding in Tata Consumer Products has increased from 5.060 per cent to 7.065 per cent. The Corporation bought about 1.86 crore shares at an average price of ₹770.69 between May 2, 2022, and July 11, 2023.
LIC said that its stake in Deepak Nitrite Ltd has increased from 5.028 per cent to 7.089 per cent. It bought about 28.11 lakh shares at an average price of ₹2,152.73 between September 28, 2022, and July 11, 2023.
DreamFolks and Plaza Premium Group, a global leading airport hospitality provider, have announced a collaboration to include 340+ Plaza Premium Lounges in 70+ major international airports into the DreamFolks global lounge network, offering an enhanced travel experience to its members worldwide starting July 24.
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Sealmatic has been accredited with the ISO 19443 for Nuclear Applications and the company claims that it is the only mechanical seal company in India/globally that has the distinction of having this Certification.
The board of Goblin India on Wednesday considered and approved a proposal for disinvestment of equity stake/investment held by the company in its wholly owned subsidiary i.e. Goblin France SARL.
Surana Solar has entered into a Slump Sale Agreement with SML Electricals India Private Ltd for selling its wind energy business undertaking for ₹1.60 core.
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Results calendar: Acrow India, Aditya Birla Money, Angel One, Avantel, Bhansali Engineering, Compuage Infocom, Federal Bank, GI Engineering, Longview Tea, Nakoda, Rose Labs, Saptak Chem, Sterling & Wilson Renewable, Tata Metaliks and Wipro.