Yedeshi Aurangabad Tollway Ltd (YATL), a special purpose vehicle of IRB Infrastructure Trust, has won an arbitration award of ₹1,720 crore for a highway project. The YATL had initiated arbitration proceedings against the National Highways Authority of India after the authority disputed the company’s claim for the extension of the concession period by 870 days and compensation of ₹1,751 crore, the statement said. IRB Infrastructure Developers Ltd is the sponsor of IRB Infrastructure Trust. IRB was the EPC contractor for YATL and continues to be the project manager for YATL.

The Reserve Bank of India gave its approval to Life Insurance Corporation of India to acquire “aggregate holding” of up tp 9.99 per cent of the share capital or voting rights in HDFC Bank Ltd. Currently, LIC holds 5.19 per cent stake in the bank.

Looking to tap rising housing demand, realty firm Macrotech Developers will launch 11 projects in Mumbai, Pune and Bengaluru this quarter with an estimated revenue potential of Rs 6,260 crore. The Mumbai-based real estate developer has a major presence in Mumbai Metropolitan Region and Pune. The company markets its properties under the Lodha brand.

Bank of Baroda (BoB) on Thursday said it has raised ₹5,000 crore through the issuance of long-term infrastructure bonds. The bank received a total of 128 bids amounting to ₹14,950 crore against the total issue size of ₹5,000 crore (base issue of ₹1,000 crore and greenshoe option to retain oversubscription up to ₹4,000 crore), BoB said in a statement. It accepted bids for ₹5,000 crore at a coupon of 7.57 per cent per annum.

Coal India has emerged as a successful bidder for a solar power project in Gujarat. “In the e-auction held on January 25, Coal India bagged 300 MW capacity of Gujarat Industrial Power Corporation Ltd, RE park of 600 MW capacity at Khavda, grid-connected SPV Project,” the Maharatna firm said in a statement.

The board of Indiabulls Housing Finance has approved to raise up to ₹3,693.40 crore via rights issue: The board has fixed the issue price at ₹150 a share and will issue 24.62 crore shares to eligible shareholders in the ratio of 1:2 (one share for every two held) as on record date (February 1, 2024). The issue will open on February 7 and close on February 13.

Jubilant Pharmova plans to sell its entire 25.8 per cent stake in Sofie Biosciences (owned through its wholly owned subsidiary Jubilant Pharma Ltd, Singapore) for aggregate proceeds of about $139.43 million, including certain preferred returns. Of this, $113.63 million (subject to certain customary adjustments at closing) is expected to be received upon completion of the merger while the balance $25.8 million is contingent upon achievement of certain future milestones. JPL plans to use these proceeds to reduce leverage and for capex and other corporate purposes.

Piramal Enterprises has entered into share purchase agreement to sell its entire direct investment of 20 per cent of the fully paid-up equity share capital held in Shriram Investment Holdings Private Limited (formerly known as Shriram Investment Holdings Ltd) to Shriram Ownership Trust, for a consideration of ₹1,440 crore. The Transaction is subject to receipt of requisite regulatory approvals by SOT and expected to be completed prior to March 31, 2024. The contribution of SIHPL in the revenue of the company for the year ended March 31, 2023 was nil.

The board of of Karnataka Bank has approved to issue, offer and allot 37,72,730 shares of face value of ₹10 each fully paid-up, to ICICI Lombard General Insurance Company Limited at ₹265.06 a share, amounting to an aggregate value of up to ₹100 crore on a preferential basis, subject to approval of shareholders of the Karnataka Bank and other regulatory approvals.

The board of Zen Technolgies has approved raising of funds not exceeding ₹1,000 crore by way of issuance of equity shares and/or other eligible securities, which include non-convertible debt instruments along with warrants and convertible securities other than warrants through permissible modes or an equivalent amount thereof by way of one or more qualified institutions placement or through any other permissible mode and/or combination.

The board of YES Bank has approved to enter into Business Transfer Agreement for transfer of Investment Banking and Merchant Banking Business from YES Securities (India) Limited to the Bank. The effective date of transfer shall be January 1, 2024. The move is a strategic measure to leverage opportunities and optimise growth within the group. YSIL, the wholly owned subsidiary of the Bank, will continue to focus on its core business activities which inter-alia, includes broking business.

SpiceJet has received ₹744 crore as the first tranche of funds being raised through allotment of 5.55 crore securities and 9.33 crore convertible warrants on a preferential basis. The company seeks additional time from competent authority to allot further equity shares and warrants under the ongoing preferential issue as approved by the shareholders of the Company on January 10, 2024.

Zee Entertainment has decided not to go ahead with its $1.4 billion deal with Disney Star for the TV broadcast right for cricket matches. Zee Entertainment Enterprises Ltd (ZEEL), which has already missed the first instalment of around $200 million, will not move ahead, according to media reports. The instalment to be paid to Disney Star was part of the $1.5 billion investment committed by the Sony group after its merger with ZEEL, said another industry source while confirming the development.

REC Ltd has inked an initial pact with the National Investment and Infrastructure Fund Ltd for collaborating to finance renewable and large scale infrastructure projects in the country. Both entities have signed a Memorandum of Understanding (MoU) in this regard, according to a statement on Thursday.

Subex said RBI has granted in-principle approval to Subex Account Aggregator Services Private Limited, a wholly owned subsidiary of the company, for setting up the business of account aggregator.

Virtuoso Optoelectronics informed the exchanges that it has appointed Vibhuti Joshi as the Company Secretary & Compliance officer after Hariom Raghuraj Kushawaha steps down.

Ahluwalia Contracts has bagged order worth ₹180 crore From Max Smart Super Specialty Hospital. The order has to bexecuted within 15 months.

Endurance Technologies has evaluated and approved capacity addition for aluminium die casting and machining of automotive components, primarily to cater to electric two-wheelers at Waluj, Aurangabad. The estimated investment towards capex is ₹37 crore.

Maharashtra Seamless has received two contracts with aggregate basic value of ₹116 crore from Indian Oil Corporation Ltd for supply of seamless pipes.

Indsil Hydr Power and Manganese has restarted operations at Unit 2 at Garbham, Vizianagaram, Andhra Pradesh.

State Bank of India has informed that the record of Religare Finvest Ltd, subsidiary of Religare Enterprises , reported as fraud by the bank has been removed from the Central Fraud Registry database. This decision follows an Order dated December 18, 2023, from the Delhi High Court directing SBI to remove the fraud tag.

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