HDFC Bank Ltd has entered into an indicative and non-binding term sheet with Go Digit Life Insurance Ltd to invest between Rs 49.9 crore and Rs 69.9 crore in the company, in two tranches, by subscribing to its equity shares for a stake of up to 9.944 per cent of its paid-up equity share capita. The company proposes to carry out life insurance business in India.
Infibeam Avenues Ltdhas picked up 50 per cent stake in a Gurgaon-based software start-up, Vishko22 Products & Services Pvt Ltd, to develop omnichannel enterprise software products and services that are integratied with domestic and international eCommerce marketplaces.
The US FDA’s Office of Medical Device and Radiological Health Operations has conducted a pre-market inspection of medical devices at Gland Pharma’s Dundigal facility at Hyderabad. The company has received one observation with respect to ANDA filed for the product to be manufactured. There is no data integrity observation.
Eicher Motors: Kaleeswaran Arunachalam has tendered his resignation as Chief Financial Officer. His resignation will take effect after working hours on September 2.
Max Life Insurance Company Ltd has announced receipt of the Commencement of Business (COB) Certificate for its wholly-owned subsidiary, Max Life Pension Fund Management Ltd. This subsidiary will manage pension assets with investment choices under the National Pension Scheme.
Intelsat, operator of one of the world's largest integrated satellite and terrestrial networks and a leading provider of inflight connectivity (IFC), has announced inflight connectivity services in Indian skies through an agreement with Nelco, a domestic satellite communications service provider.
Alliance Integrated Metaliks Limited has received a work order from VRC Constructions (I) Pvt. Ltd. for the ‘Dabwali-Chautala Project’ in Haryana. The scope of work includes fabrication, metalising, painting, transportation, erection and launching of a Steel Truss Girder Canal Bridge.
Shares of Syrma SGS Technology will be listed on the bourses today. The issue price at Rs 220 a share, has been fixed at the upper end of the price band of Rs 209-220. The Rs 840-crore public issue was subscribed over 32.6 times with a strong response from all categories of investors - QIB (87.56 times), HNIs (17.5 times) and retail (5.53 times). The Chennai-based technology-focused engineering and design company is engaged in turnkey Electronics Manufacturing Services (EMS). The issue comprised a fresh issue of Rs 766 crore and an offer-for-sale of shares worth Rs 74 crore by the promoters. The fresh issue money will be utilised for the development of an R&D facility and expansion of manufacturing facilities, and long-term working capital requirements, besides general corporate purposes.