Phoenix Mills has said that Canada Pension Plan Investment Board through its entity viz. CPP Investment Board Private Holdings (4) Inc and Plutocrat Commercial Real Estate Private Limited (PCREPL), a subsidiary company, had executed a securities subscription and purchase agreement, and shareholders agreement for an investment of ₹1,350 crore.

CPP Investment as on March 27 completed its second tranche of investment in PCREPL on a private placement basis by subscribing to 1,109 equity shares having a face value of ₹10 at a premium of ₹14,42,731.2083 a share aggregating to ₹160 crore.

As a result of the aforesaid investment by CPP Investment and allotment of equity shares by PCREPL, the company, and CPP Investment hold 59.74 per cent and 40.26 per cent respectively, of the paid-up equity share capital in PCREPL.

PNC Infratech Ltd has been declared the L1 (Lowest) bidder for a highway project namely “construction of a 4-lane highway from 49.155 km to 74.700 km (Singraur Uphar to Baranpur Kadipur Ichauli) of NH-731A with paved shoulders (i/c Ganga Bridge) in Uttar Pradesh on Hybrid Annuity Mode (Package-III) from MORT&H with a bid project cost of ₹819.0 crore on March 27”.

Price bids were opened on Monday, March 27, with PNC’s bid being the lowest (L1). The project is to be constructed in 24 months and operated for 15 years, post-construction.

Nava Ltd has said that pursuant to the consent arbitral award, $517 million was issued by the Arbitral Tribunal in London in December 2022, in the Arbitration initiated by Maamba Collieries Limited, Zambia (MCL) and the Security Trustee of the Lenders against Zambia Electricity Supply Corporation Limited (ZESCO) for recovery of outstanding receivables.

ZESCO has discharged a few payments as per the terms of the award, aggregating to $33 million as of date. ZESCO has also made an arrangement with the Ministry of Finance and the Zambia Revenue Authority for assuming the VAT liability of MCL on the outstanding receivables aggregating to $70 million leaving a balance amount of $414 million to be paid under the award.

ZESCO has since proposed a modified payment schedule to discharge $414 million in monthly instalments from April. They have proposed to discharge $234 million by December 2023 and the remaining $180 million by December 2024.

The Board of Directors of Sagar Cements has approved a proposal to furnish a corporate guarantee for a sum not exceeding ₹665 crore to State Bank of India, as security for the loan availed by the subsidiary viz., Andhra Cements Limited.

The Board has also approved a proposal to pledge 25 per cent of Sagar Cement’s holdings in Andhra Cements Limited in favour of the said banker as further security for the said loan.

Lemon Tree Hotels Limited announced the opening of its latest hotel — Keys Prima by Lemon Tree Hotels, Thekkady in Kerala.

The NPCI announced wallet interoperability guidelines on March 24. Now, Paytm Payments Bank (One 97 Communications) will earn 1.1 per cent interchange revenue when Paytm Wallet customers make payments on merchants acquired by other payment aggregators or banks.

Paytm Payments Bank will pay 15 bps of charges for adding more than ₹2,000 using UPI, and in turn, will also earn 15 bps when any other wallets use the bank to add more than ₹2,000 using UPI. Paytm Payments Bank acquires UPI payment merchants.

NHPC has secured a green financing of JPY 15 billion (around ₹915 crore) from the Japan Bank for International Cooperation (JBIC). The loan is co-financed with Japanese private financial institutions.

The objective of the incumbent debt is to finance the 90 MW Omkareshwar floating solar power project in Madhya Pradesh and the 100 MW Raghanesda solar power project in Gujarat having a combined estimated cost of ₹1,288.35 crore.

Allcargo Logistics has signed a share purchase agreement with KWE Singapore, KWE Kintetsu Express (India), Gati and Gati-Kintetsu Express (GKEPL) for the acquisition of 1.5 lakh equity shares (30 per cent stake) in GKEPL, for ₹406.7 crore. The 1.5 lakh shares comprised, 1.3 lakh equity shares (26 per cent stake) in GKEPL from KWE Singapore and 20,000 shares (4 per cent) stake from KWE India.

The Ministry of Railways has appointed Dr Deepak Tripathi as Director (Technical) of RITES. AK Chandra, IRSME, PED/W&D, Railway Board holding additional charge to the post of Director (Technical) of RITES ceases to be Director (Technical) after Tripathi’s appointment.

Gujarat Ambuja Exports Ltd has successfully commissioned production at the 1,200TPD maize processing greenfield project at Malda, West Bengal. The company has now a total of 4,000TPD maize processing capacity.