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Future Enterprises Ltd (FEL) on Wednesday said it has defaulted on payment of interest of ₹1.06 crore for its non-convertible debentures. The due date for payment was May 17, 2022, FEL said in a regulatory filing. “The company is unable to service its obligations in respect of the interest on Non-Convertible Debentures...,” it said.
Adani Enterprises has incorporated Adani Health Ventures Ltd as a wholly owned subsidiary. The group has earmarked up to $4 billion in a mix of debt and equity for the business and is talking to investors and lenders to devise a long-term funding plan.
The Competition Commission of India (CCI) has approved a proposed deal involving Serum Institute Life Sciences, Covidshield Technologies and Biocon Biologics. Once the deal is complete, Serum Institute Life Sciences Pvt Ltd will have about 15 per cent stake in Biocon Biologics Ltd, according to the notice filed with the regulator. Biocon Biologics Limited, a subsidiary of Biocon Limited, is a fully integrated global biosimilars organisation.
IRB Infrastructure Developers Ltd on Wednesday said its wholly owned subsidiary Chittoor Thachur Highway Private Ltd has achieved financial closure for a hybrid annuity project in Tamil Nadu. The project, estimated to cost ₹909 crore, is a part of Bharatmala Pariyojana (Phase IV) and is for six-laning of Pondavakkam Kannigaipair section (nearly 20 km) on Chittoor Thachur Highway, the company said in a statement. The company had bagged the project under hybrid annuity model (HAM) in September 2021.
Endurance Technologies Limited has entered into agreements with ION Energy Inc. (ION) for acquisition of 100 per cent stake in Maxwell Energy Services Private Limited (Maxwell), ION’S advanced electronics subsidiary with significant presence in BMS. This all-cash deal involves initial share subscription and share purchase leading to Endurance holding 51 per cent stake in Maxwell by investing ₹135 crore, subject to customary adjustments and fulfilment of conditions precedent. Subsequently, Endurance will acquire the remaining 49 per cent stake in a phased manner over the next 5 years by making variable payouts determined based on financial performance of Maxwell, subject to a maximum additional payout of ₹173 crore.
Result Calendar: Ajmera Realty, Alkyl Amine, Asahi Songwon, Ashok Leyland, Bharat Bijlee, Bharat Wire, Bosch, Camlin Fine, Chambal Fertilisers, CL Educate, Concor, Control Prints, Dhanlaxmi Bank, Dr Reddy’s Lab, Endurance Tech, Future Market, Gland Pharma, Godrej Consumer, Gravita, HPCL, JBF Industries, Kamat Hotel, Krishna Institute of Medical, Kirloskar Oil Engines, Kitex Garments, Lincoln Pharma, Man Infra, MT Educare, Navkar Corp, Novartis, Onmobile Global, Patel Integrated Logistics, Pioneer Distilleries, Prince Pipes, Punjab & Sind Bank, Ramco Systems, Rossari Bio, Simbhaoli Sugars, Surya Roshni, Suryoday Small Finance Bank, TGV Srrac, Thangamayil, Ujjivan Financial and V-Guard.
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