ITC has proposed strategic investment in Sproutlife Foods Private Limited (SFPL), a Direct-to-Consumer (D2C) StartUp engaged in the manufacture and sale of innovative products catering to health-conscious consumers under the clean label, new-age digital-first brand ‘Yoga Bar’. ITC will acquire 100 per cent of SFPL over a period of 3 to 4 years. 47.5 per cent stake in SFPL will be acquired, in tranches, by March 31, 2025, and the balance stake will be acquired, basis pre-defined valuation criteria, subject to other conditions agreed to in the binding documents.
Rail Vikas Nigam Limited (RVNL) has emerged as the Lowest Bidder (L1) for the supply, erection, testing and commissioning of the Power Supply Receiving & Distribution System, 750 V DC Third Rail Traction Electrification and Scada System for Surat Metro Rail Project Phase-I. (cost ₹673.8 crore) and phase-II (₹384.3 crore). RVNL had participated in a consortium with Siemens India Ltd, which is the lead partner with 65 per cent share.
Also read: Sensex, Nifty likely to open on flat note
EID Parry India Ltd has announced that the new 120 KLPD distillery of the Company at its sugar unit at Sankili, Andhra Pradesh, (which has the flexibility to operate with multiple feedstocks . i.e., molasses/cane juice & syrup/grain-based) has commenced commercial operations with effect from January 17.
Glenmark Pharmaceuticals Ltd has announced that it has entered into an agreement with Eris Oaknet Healthcare Private Limited, a wholly owned subsidiary of Eris Lifesciences to divest the Tail Brands from its dermatology segment, for India and Nepal territories, for a consideration amount of ₹340.48 crore. The divested Tail Brands include Onabet, Halovate, Sorvate, Luligee, Demelan, Aceret, Dosetil, Revize, and Powercort, and their sub-brands.
Life Insurance Corporation of India’s (LIC) shareholding in Coforge has increased from 30,38,803 to 30,73,908 Equity Shares increasing its shareholding from 4.976 per cent to 5.033 per cent of the paidup capital of the said company.
Fermenta Biotech Limited has executed and registered a sale deed to sell premises situated at Thane. Red Brick IT Support Services LLP is the buyer for a total consideration of ₹13.88 crore.
Tinna Rubber and Infrastructure has entered into a shareholder agreement to acquire 99 per cent stake in Global Recycler, Sole Proprietorship Company, Muscat, Sultanate of Oman, which will subsequently convert to a Limited Liability Company in due course of time. Global Recycler, Sole Proprietorship incorporated under laws of the Sultanate of Oman to carry on - Waste Recycling, End of Life Tire Recycling, Trading of Waste Material/Scrap business etc.
Berger Paints Ltd is scouting for land in Odisha for a new manufacturing plant, a top company official said on Tuesday. According to a PTI report, the company is also gearing up to operationalise the ₹1,015 crore integrated fully-automated paint manufacturing plant near Lucknow soon. The 36-acre plant in Sandila industrial park, Uttar Pradesh, is expected to begin commercial production by the end of January or early February.
Auto components maker Sundram Fasteners Ltd on Tuesday said it has bagged a ₹250 million (nearly ₹2,045 crore) contract from a ‘leading global automobile manufacturer’ to supply sub-assemblies for the latter’s electric vehicle (EV) platform. To support the new orders under a six-year long purchase package involving the supply of input and stator shaft sub-assemblies and drive gear sub-assemblies the company plans to invest ₹200 crore.
Results calendar: Aashika Hospitals, Alok Textiles, Amal, Anubhav Infrastracture, Aurum Properties, CCL, Central Bank, Cosyn, Elegant Floriculture, Goa Carbon, IndusInd Bank, Oracle Financial Services, Orosil Smiths, Persistent System, PSP Projects, Rallis India, Shemaroo, Silverpoint Infratech, Stylam Ind, Supreme Holdings, Surya Roshni, Toyam Sports, Umiya Tubes, Vinyl Ind, Vivanta and Wendt.