The Board of Bharat Petroleum Corporation Ltd approved a proposal for setting up Polypropylene (PP) Unit, for production of Polypropylene at Kochi Refinery, at gross project cost of ₹5,044 crore. The project is likely to be completed in 46 months from the date of investment approval.

US private equity firm Blackstone plans to exit from Embassy Office Parks REIT in a block deal for ₹6,931.50 crore on Wednesday. According to the term sheet seen by businessline Blackstone sponsored special purpose vehicles will be selling 22.4 crore units or 23.59 per cent stake in Embassy REIT.

The Competition Commission of India has given its nod for acquisition of majority shareholding of Glenmark Life Sciences Limited by Nirma Ltd. In September this year, Nirma had announced that it would acquire 75 per cent \stake in Glenmark Life Sciences for ₹7,500 crore. Glenmark Pharmaceuticals had decided to sell the 75 per cent stake to retire outstanding debt of ₹4,340 crore.

Varun Beverages Ltd (VBL), PepsiCo’s largest franchise bottler, on Tuesday announced the acquisition of South Africa-based Beverage Company (Bevco) along with its wholly-owned subsidiaries at an enterprise value of Rs 1,320 crore, which will help it expand geographical footprint in the African market. Bevco holds franchise rights from PepsiCo in South Africa, Lesotho and Eswatini.

KRDCL-RVNL joint venture has emerged as the lowest bidder (L1) for Varkala Sivagiri Railway Station – Major upgradation/redevelopment of Varkala Sivagiri Railway Station in Kerala. While KRDCL owns 51 per cent stake in the joint venture, RVNL holds 49 per cent. The project is expected to be completed in 30 months.

The board of Vijaya Diagnostic Centre Ltd has approved the terms and conditions of the Share Purchase agreement between the company, PH Diagnostic Centre Private Ltd and its Promoters/Shareholders for the acquisition of 100 per cent stake in “PH” for ₹134.64 crore. Post completion of the acquisition, “PH” will become wholly-owned subsidiary (‘WOS’) of the Company.

The board of Jindal Stainless Ltd has accorded its consent for acquisition of 100 per cent stake in Rabirun Vinimay Private Limited, a company under liquidation, on a going concern basis for ₹96 crore. RVPL has its manufacturing facility at Kharagpur in West Bengal with a potential downstream cold rolling manufacturing capacity of 250 KTPA for wider and thinner segment besides having capacity of S0 KTPA for pipe & tube segment. The plant is currently under shut down.

U GRO Capital has raised ₹250 crore from Dutch Entrepreneurial Development Bank FMO through rupee-denominated non-convertible debentures (NCDs). Aleksandra Gazy, Senior Investment Officer, FMO, said the association will help strengthen the fund’s commitment towards greater financial inclusion in India.

JK Tyre and Industries has launched its QIP for raising up to ₹500 crore and it has set the floor price of QIP at ₹358.96 a share.

Jubilant FoodWorks subsidiary Jubilant Foodworks Netherlands has launched a cash offer to acquire the remaining 45.33 per cent share capital of DP Eurasia, a subsidiary company of JFN, at 95 pence per share.

Sandeep Kumar Singh has resigned from the position of CEO of the animal feed business of Godrej Agrovet. AY Rajendra has been appointed as CEO of the animal feed business.

The board of National Fertilizers has approved to setting up of a Nano Urea (liquid) production plant based on the financial viability in Techno-Economic - Feasibility Report.

Deepak Nitrite has approved the offtake of 250 KTPA propylene and 11 KTPA hydrogen from Petronet LNG’s Dahej plant. Petronet LNG will supply hydrogen and propylene to the company’s unit Deepak Phenolics for 15 years.

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