State of India has acquired a minority stake in JSW Cement Ltd at an investment of ₹100 crore. SBI has acquired compulsorily convertible preference shares that will be converted to equity shares on terms linked to JSW Cement’s future business performance. The valuation will be fixed at the time of the proposed initial public offering (IPO) of the company.
HCL Technologies , a leading global technology company, signed a five-year agreement with CEMEX, a global construction materials company, to deliver the next generation of employee services enabled by digital transformation, increased automation and near real-time analytics as part of the CEMEX 'Working Smarter Program'. This multi-year managed services agreement comes as HCL has made a strategic commitment to expand its services and customer base across Mexico. HCL recently appointed Pablo Gallegos as its Mexico country head to lead HCL's strategy in the region.
The dispute between MCX and PESB Limited, a UK based vendor engaged for developing spot platform, pending before Singapore International Arbitration Centre since January 2021, has been amicably settled and closed on the payment of amount equivalent to outstanding invoices.
The Board of Directors of YES Bank Ltd has approved raising of funds by issue of equity shares/depository receipts/convertible bonds/debentures/warrants/any other equity linked securities, through permissible modes, subject to necessary approvals from shareholders/regulators, as applicable for amount up to ₹10,000 crore. Pursuant to this, the Bank will seek approval from its shareholders.
Ace investor, Radhakishan S Damani, along with family members on Tuesday said he has picked up 62.98 lakh shares or 2.03 per cent stake in India Cements through open market purchases between March 30, 2020, and December 20, 2021. Following the purcahse, their holding in India Cements rose to 22.76 per cent from 21.14 per cent. Radhakishan S Damani is the promoter of retail chain D-Mart (Avenue Supermarts).
CreditAccess Grameen has announced further investment by the company in Madura Micro Finance Limited, a material subsidiary, up to an aggregate sum of ₹250 crore. The board has considered and approved further investment in MMFL in the form of Subordinate Debt or Perpetual Debt Instruments (PDIs) or both, up to ₹250 crore, in tranches, in order to support capital adequacy requirement of MMFL, subject to applicable Laws, Rules & Regulations.
JSW Energy (Barmer) Limited , a wholly owned subsidiary of JSW Energy, has completed the buyback of 100 crore equity shares of ₹10 each at par aggregating to ₹1,000 crore .
Vascon Engineers Ltd has received Letter of Award amounting to approximately ₹199 crore from Vedanta Ltd for construction of Cairn Oil & Gas residential complex at Barmer, Rajasthan. The work has been awarded on design and build basis, and has to be completed within 18 months from the date of receipt of this letter of award.
The board of NCL Research and Financial Services Ltd has approved proposal to raise further capital up to ₹49 crore by way of Rights Issue and to increase authorised capital from ₹60 crore to ₹109 crore.
The board of XTGlobal Infotech will be held on December 29 to consider and approve the proposal to authorise a director to execute share transfer deed and to perform other formalities for acquiring shares of Network Objects Inc. The board will also consider and approve allotment of 1.30 crore equity shares of ₹1 at ₹25.20 a share on preferential basis for consideration other than cash against acquisition of 44.33 per cent stake in Network Objects Inc.
Windlas Biotech , one of the top five players in the domestic pharmaceutical formulations contract development and manufacturing organisation industry in India, has further strengthened the senior management capability with appointment of Shailendra Rastogi as a Chief Business Officer. He will be responsible for handling CDMO, Export, API & CRAMS business development for the company.
IndiaMART InterMESH has indirectly through its wholly owned subsidiary, Tradezeal Online Private Limited, agreed to acquire 4,784 Compulsorily Convertible Series A Preference Shares and 100 Equity Shares aggregating to 26.01 per cent of Edgewise Technologies Private Limited on fully diluted basis. The investment should be in line with the company's long term objective of offering various Software-as-a-Service (SaaS) based solutions for businesses.
Three persons were killed and 44 others injured in a fire that broke out in the Haldia Refinery of the Indian Oil Corporation in West Bengal's Purba Medinipur district on Tuesday, police said. The IOC in a statement said the incident occurred at a unit of the refinery during shutdown related works. Meanwhile, the IOC’s board has approved investment proposal of new crude oil pipeline system with a nameplate capacity of 17.5 MMTPA from Mundra to Panipat at an estimated cost of ₹9,028 crore.
Birla Tyres ’ board has approved internal reconstruction of the company wherein it will restructure its debt and demerge passenger car radial tyre plant.
Oriental Carbon & Chemicals has commissioned its first phase (about 5,500 tpa capacity) of its project for expansion of insoluble sulphur production capacity at Dharuhera, Haryana.
Strides Pharma Science has said that Stelis Biopharma Limited, Strides’ biotech division, has commissioned its large-scale fully integrated vaccine manufacturing facility in Bengaluru.
Shilpa Medicare has launched Prucalshil (Prucalopride) Orally Disintegrating Strips 1 mg and 2 mg in India, as a unique formulation developed for the first time in the world.