Bharti Airtel Ltd has entered into an agreement to acquire 51,17,000 (11.696 per cent) equity shares in Avaada MHAmravati Private Ltd, a special purpose vehicle formed for owning and operating the Captive Power Plant, in terms of the regulatory requirement for captive power consumption under electricity laws. The cost of acquisition is ₹5.11 crore.
IRB Infrastructure Developers Ltd has offered its Vadodara to Kim Expressway project, being developed under Hybrid Annuity Model, to its Public InvIT, IRB InvIT Fund. The company board has approved the preliminary nonbinding proposal for transfer of the said project to the IRB InvIT Fund, which is a publicly offered and listed Infrastructure Investment Trust sponsored by the company.
PB Fintech has announced that it has received an intimation from Yashish Dahiya, Chairman and CEO of the company, for an intention to sell up to 37,69,471 equity shares via bulk deals on the stock exchanges. The company submits that the aggregate shareholding of Yashish Dahiya after the IPO of the Company was 1,72,38,878 (3.84 per cent) and total number of ESOPs options vested and due for exercise immediately after the initial public offering of the company were 1,06,57,500. Out of the outstanding stock options, he exercised 1,05,09,601 shares during February 2022 and May 2022. The remaining 1,47,899 vested ESOPs will be exercised within next few days. Apart from above vested stock options, 71,96,604 stock options were granted on October 5, 2021, which will get vested and exercisable over a period of 5 years.
The promoter company of Time Technoplast Limited has informed that the process of sale of land parcel located on Saki Vikar road, Mumbai, has commenced with identified buyer. Further, due diligence process is ongoing by a leading Asset Management Company. The transaction is likely to be completed including receipt of sales proceeds shortly. The sale consideration will be utilized for repayment of debt to lenders of the Promoter Company, resulting in release of entire present pledged equity shares.
Gufic Biosciences Limited, a fast-growing pharmaceutical player recognised for its innovative, high-quality pharmaceutical and herbal products, has targeted to capture major share of ₹3,000 crore lyophilised antibacterial market in India. Gufic has launched New Drug Delivery System: Dual Chamber Bags at affordable price for the first time in India.
NMDC Ltd has lowered that the prices of iron ore has been fixed as under w.e.f. June 5. Lump Ore (65.5 per cent, 6-40mm) at ₹4,400 a ton (Previous Price - ₹5,500) and fines (64 per cent, -10mm) at ₹3,310 per ton (Previous Price - ₹4,410). The above FOR prices are excluding Royalty, DMF, NMET, Cess, Forest Permit Fee and other taxes.
The board of SBI Cards and Payment Services Ltd has approved raising of funds by way of issuance of Non-Convertible Debentures (NCDs) aggregating to ₹2,500 crore in one or more tranches, on private placement basis.
PSP Projects Ltd has received new work orders (WO) worth ₹154.89 crore (excluding GST) in Institutional, residential and precast Segment and with this the total work orders received during the financial year 2022-23 till date amounts to ₹549.62 crore. Further, the company has emerged as Lowest Bidder (L1 Bidder) for a Government Medical college and hospital in Gujarat with bid value worth ₹615.18 crore.