Yum Restaurant India Private Ltd is likely to divest its entire stake (4.4 per cent) in Devyani International Ltd via block deals, per reports. The floor price is likely to be ₹153.5 a share, as against Tuesday’s closing price of ₹165.85 on the BSE, the report added.

The board of Union Bank of India on Tuesday approved a fund raising plans of ₹3,000 crore through Qualified Institutions Placement (QIP). The funds will utilised to fund its business growth.

Aditya Birla Group company Novelis Inc has filed papers with the US market regulator Securities and Exchange Commission relating to the proposed initial public offering of its common shares. Novelis, the leading aluminium solutions provider, is the wholly owned subsidiary of Hindalco Industries. The proposed IPO of Novelis is completely offer for sale by the existing promoter Hindalco Industries. On Tuesday, Novelis said that it confidentially submitted a draft registration statement on Form F-1 with the SEC relating to the proposed initial public offering.

Wipro on Tuesday said it expanded its partnership with IBM to offer new Artificial Intelligence (AI) services and support to clients. The company has introduced the Wipro Enterprise Artificial Intelligence-Ready Platform, leveraging IBM watsonx, which will allow clients to create enterprise-level, fully integrated, and customised AI environments.

Swan Energy on Tuesday announced opening of its ₹4,000 crore fund raise through a qualified institutional payment (QIP), with a starting price fixed at ₹703.29 per share. In a stock exchange filing, Swan said pricing of the issue would be decided on February 26.

The Competition Commission of India (CCI) on Tuesday said it approved Minda Corporation’s proposed 8.79 per cent stake purchase in Pricol. Minda Corporation is in the business of manufacturing of auto components and caters to Original Equipment Manufacturers (OEMs) and Tier-1 in various segments in India. The proposed combination relates to an acquisition of up to 8.79 per cent (approx.) of the equity share capital of Pricol by Minda, according to a release. Pricol manufactures automobile components for OEMs, Tier-1 and replacement markets across India and globally. Deals beyond a certain threshold require approval from the regulator CCI.

Sun Pharmaceutical Industries Ltd has announced that it would acquire a 16.33 per cent stake in Surgimatix, Inc, a US-based firm for $3.05 million (over ₹25 crore). Surgimatix is engaged in the business of developing a proprietary soft tissue fixation device for laparoscopic hernia repair and other minimally invasive surgeries. It is yet to commence its commercial operations, Sun Pharmaceutical Industries said in a regulatory filing.

The board of ABB India has recommended a final dividend of ₹23.80 a share of face value of ₹2 each for the financial year ended December 31, 2023, subject to shareholders’ approval at the ensuing Annual General Meeting.

Godrej Industries Limited (Chemicals) has been ranked on the leadership index in the CDP’s Climate Disclosure Index 2023. “Besides the public disclosure of our targets, strong governance structure, risk management strategies and measures implemented to mitigate the impacts of climate change we scored higher on our scope 3 emissions and climate change opportunities disclosure that helped us in scoring “A-” in Climate Change disclosures,” said the company in a notice.

Cian Healthcare has won a tender for supply of drugs and medicines to Pharmaceutical and Medical Device Bureau of India (PMBI) for a period of two years. The estimated value of contract awarded is ₹4.78 crore.

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