Uno Minda Limited (formerly known as Minda Industries Limited) has announced that its Board has approved the acquisition of an 81.69 per cent stake in Kosei Minda Aluminum Company Private Limited (“KMA”) and a 49.90 per cent stake in Kosei Minda Mould Private Limited from joint venture partner Kosei, Japan. The acquisition is planned through composite scheme of merger with Uno Minda Ltd through swap of shares. The enterprise value of KMA and KMM considered for the purpose the transaction is ₹60 crore and ₹11 crore respectively.
In a bid to enable India’s decarbonisation push, Indian Oil Corporation Ltd and NTPC Green Energy Limited (100 per cent subsidiary of NTPC), have announced the signing of a Joint Venture Agreement for the formation of a Joint Venture (JV) company to develop Renewable Energy (RE) Power plants to meet Round the clock power requirement of new projects of IndianOil Refineries.
The Board of Directors of CEAT Limited, an RPG Group company, has named Anant Goenka as the Vice Chairman of the tyre major. This appointment, effective April follows Anant Goenka’s decade-long stint as MD & CEO of CEAT, a phase that witnessed a significant transformation of the tyre major, in technology, branding, and production capabilities. The move also progresses the Board’s succession plan for the company with Arnab Banerjee, currently Chief Operating Officer, taking charge as the new MD and CEO.
J Kumar Infraprojects has announced the receipt of a Letter of Acceptance (LOA) from Bangalore Metro Rail Corporation Limited for the “Construction of Airport Depot for Bangalore Metro Rail Project - Phase - 2B” for a total contract cost of ₹182.34 crore exclusive of GST, in the name of J. Kumar - AICPL (Joint Venture) where the share of J. Kumar Infraprojects Limited is 55 per cent which comes to approximately ₹100.28 crore.
Lupin Limited has announced that its alliance partner Caplin Steriles Limited (Caplin) has received final approval from the United States Food and Drug Administration (U.S.FDA) for its Abbreviated new Drug Application (ANDA) Thiamine Hydrochloride Injection USP, 200 mg/2 mL (100 mg/mL) Multiple-dose Vials, to market a therapeutically equivalent to the reference listed drug (RLD), Thiamine Hydrochloride Injection USP, 200 mg/2 mL (100mg/mL), of Fresenius Kabi USA LLC. Thiamine Hydrochloride Injection USP had an annual sale of approximately $36 million in the U.S. (IQVIA MAT for the 12-month period ending December 2022).
Sterling and Wilson Renewable Energy Limited has emerged as the successful bidder for the BOS package comprising four (4) blocks of 300MW(AC) each in the proposed 1200MW Solar PV Project of NTPC Renewable Energy Limited at Khavda RE Power Park, Rann of Kutch, Gujarat with an aggregate capacity of ~ 1500 MW (DC). The total bid value, including O&M for three years, would be ~ ₹2,100 crore (inclusive of taxes). The formal NOAs and contract signing is likely to happen in due course.
Knowledge Marine & Engineering Works Ltd has entered into a Contract received with RKEC Projects Limited on 20 per cent March for the work of Development of Fishery Harbour at Veraval (Phase - II), Package, Gir Somnath of Gujarat Maritime Board (GMB) for an amount of ₹47.02 crore (including GST) for a period of 30 months. This is the consecutive second order of the company for development of fishing harbor in Gujarat.
The Board of Directors of Windsor Machines Limited has approved divestment of the Company’s entire stake of Wintal Machine Srl, a wholly owned subsidiary of the company, by way of sale to Massimo Pegoraro, (Buyer) subject to approval of RBI and company shareholders. Sale consideration is amount of €1 only.
The Board of Directors has fixed March 31 as the record date, for the purpose of ascertaining the list of eligible shareholders of the Shipping Corporation of India Limited (Demerged Company / SCI) for allotment of equity shares by Shipping Corporation of India Land and Assets Limited (Resulting Company) each credited as fully paid up in the ratio of 1:1 as per Scheme of Arrangement for Demerger as approved by the Ministry of Corporate Affairs.