Reliance Projects and Property Management Services, a subsidiary of telecom major Jio, has completed 100 per cent stake acquisition in Reliance Infratel for about ₹3,725 crore, Reliance Industries said on Thursday. Billionaire Mukesh Dhirubhai Ambani-led Jio placed a bid of ₹3,720 crore in November 2019 to acquire the tower and fibre assets of the debt-ridden subsidiary of Anil Ambani-managed firm Reliance Communications.

JK Cementon Thursday announced its foray into the paints business by acquiring 60 per cent stake in Rajasthan-based Acro Paints in a ₹153 crore deal. Its a wholly-owned subsidiary JK Paints and Coatings Ltd has entered into a share purchase agreement with Acro Paints Ltd and its shareholders to acquire a 60 per cent controlling stake in the company.

Rail Vikas Nigam has received a contract worth for ₹198.93 crore for construction of Bhesan depot-cum-workshop, from Gujarat Metro Rail Corporation for Surat Metro Rail Project Phase-1.

The Government of India is proposing to offer up to 40 lakh equity shares of Indian Railway Catering and Tourism Corporationto the eligible employees at ₹680 a share. The offer for sale for employees will remain open from December 23 to December 26.

RailTel Corporation of India has bagged a work order worth ₹98.56 crore from Webel Technology for acting as system integrator for capacity enhancement of West Bengal state data centre, Monibhandar in Kolkata.

IFCI Ltd on Thursday said its shareholders have okayed a proposal to raise up to ₹1,000 crore through bonds and other instruments. The resolution was passed at the company’s annual general meeting (AGM) held on Thursday.

YES Bank has transferred invoked shares of seven companies, including Dish TV, Asian Hotels (North) and Avantha Realty, to JC Flowers Asset Reconstruction, which has been assigned to recover debt worth over ₹48,000 crore of the private sector lender.

3i Infotech has received contract worth ₹10.25 crore for digital infrastructure managed services from Eureka Forbes. The contract is for a period of three years, with the option to extend it with mutual agreement.

Indian Hotels Company Ltd has signed two Ginger branded hotels in Durgapur and Asansol in West Bengal. “Durgapur and Asansol are major hubs for manufacturing industries. These two signings are in line with the company’s strategy of strengthening its presence in the state.

Kansai Nerolac Paints has invested ₹10.99 crore in its subsidiary in Sri Lanka, Kansai Paints Lanka. The Sri Lankan arm has allotted 8.1 crore ordinary shares at LKR 6 per share to Kansai Nerolac. Kansai Nerolac Paints holds 60 per cent stake in SL arm.

Zydus Lifesciences on Thursday said its subsidiary Zydus Worldwide DMCC has received final approval from the US health regulator to market its generic version of Selexipag tablets with 180 days of shared exclusivity. The approval granted by the US Food and Drug Administration (USFDA) is to market Selexipag tablets of strengths 200 mcg, 400 mcg, 600 mcg, 800 mcg, 1,000 mcg, 1,200 mcg, 1,400 mcg, and 1,600 mcg, the company said in a regulatory filing.

NTPC has inked an agreement with GE Power India Limited to reduce carbon emission from its coal-fired units. This agreement aims at partnering on research, development and engineering of technologies that will enable NTPC to reduce the amount of coal fired at units and gradually replace it by co-firing of carboneous and non-carboneous elements, the power giant said in a statement.

Lupin on Thursday said its US-based arm is recalling four lots of Quinapril tablets used to treat high blood pressure due to the presence of a nitrosamine impurity. Lupin Pharmaceuticals Inc, the company’s wholly-owned arm, is recalling the said tablets due to the presence of a nitrosamine impurity, N-Nitroso-Quinapril, observed in recent testing above the acceptable daily intake (ADI) level, Lupin Ltd said in a regulatory filing.

Bank of Maharashtra (BoM) on Thursday said it has raised Rs 880 crore through Basel III-compliant Additional Tier 1 (AT1) bonds. The issue, including green shoe option of Rs 680 crore, was subscribed more than four times against base size of Rs 200 crore, the bank said in a statement.

Shneider Electric on Thursday said it plans to invest Rs 425 crore to develop a new smart factory in Bengaluru. “The new smart facility will consolidate 6 out of 10 existing factories of the company in Bengaluru, under one roof,” Schneider Electric said in a statement.

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