Adani New Industries, an arm of Adani Enterprises, on Thursday raised $394 million (₹3,231 crore) from Barclays PLC and Deutsche Bank AG. The proceeds will be used to secure working capital requirements of its integrated solar module manufacturing facility, Adani Enterprises Ltd said in a regulatory statement on Thursday.
The Competition Commission on Thursday said it has approved Ipca Laboratories’ proposed 59.38 per cent stake purchase in Unichem Laboratories. The proposed deal involves the company buying 33.38 per cent shareholding in Unichem Laboratories pursuant to a share purchase agreement.
Adani Transmission Ltd on Thursday said it has renamed itself to Adani Energy Solutions Limited with immediate effect.
Religare Enterprises Limited and Nasscom Centre for Excellence (CoE) IoT have entered into a strategic partnership to strengthen business processes and solution landscape. The tie-up will help infusion of cutting-edge technology and innovation. It will also enhance customer experience and drive operational efficiencies and data security while creating long-term value within the sector.
Lupin on Thursday said it has resolved manufacturing issues raised by the US health regulator regarding its Goa and Pithampur-based manufacturing facilities. The company has received a correspondence from the US Food and Drug Administration (USFDA) that it (Lupin) has now addressed the concerns raised in the warning letter for its facilities in Goa and Pithampur Unit-2, the drug firm said in a statement.
RITES on Thursday said it has signed a pact with the Indian Railway Finance Corporation (IRFC) to explore possibilities of collaborating in the railway eco-system and transport infrastructure sector.
Siemens has announced that as part of a consortium along with Rail Vikas Nigam Limited (RVNL), it has secured an order from Mumbai Metropolitan Region Development Authority (MMRDA) for electrification of Mumbai Metro’s Line 2B. The technology company said its share as part of the consortium is ₹228 crore while RVNL’s share is ₹149 crore.
The government’s 5.36 per cent stake sale in RVNL on Thursday got an enthusiastic response from institutional investors, who subscribed the issue 2.73 times by putting in bids of over ₹2,000 crore. In the two-day offer-for-sale (OFS), the government is selling 11.17 crore shares, representing a 5.36 per cent stake at a floor price of Rs 119 apiece. The offer includes a greenshoe option of an additional 4.08 crore shares or 1.96 per cent stake in Rail Vikas Nigam Ltd (RVNL).
Brookfield India Real Estate Trust has opened its issue to raise up to ₹3,500 crore by selling units to institutional investors on a private placement basis. The trust approved the floor price of ₹265.79 per unit for stake sale. The proceeds will be used to fund the acquisition of assets in Gurugram and Mumbai. In a regulatory filing. The board of directors has approved the opening of the issue on July 27 for receiving bids.
The Board of Directors Sona BLW Precision Forgings has approved expansion of existing capacity at Company’s Chennai plant at Keelakaranai, Chengalpattu. Further, the Board has approved investment of ₹99.70 crorefor capacity expansion of the Chennai plant from 400,000 to 600,000 EV traction motors, and a new capacity 500,000 units of PCB Assembly, by FY25.
Results Calendar: 3i Infotech, Alkali Metal, AM Forgings, Anjani Finance, Anup, Amar Industries, Bank of India, Batliboi, BNR Udyog, Chalet Hotels, Cigniti, Cords Cable, DCB Bank, De Nora, DRC Systems, Duncan Engineering, eMudhra, Equitas Bank, Exide Industries, Fino Payments Bank, Geojit Financial, Green Panel, Haryana Leather, HT Media, IFB Industries, IOC, Indigrid, JK Agri, JP Power, KFin Tech, Kokuyo Camlin, LT Foods, Laxmi Organics, M&M Financial, Marico, Medinova, MRPL, Motherson Sumi, Mukta Arts, Nazara Technologies, NDL Venture, NLC India, Odyssey, Panama Petrochem, Piramal Enterprises, PTC India Financial, Reliance Home, RITES, Route Mobile, RPG Life, Satin Creditcare, SBI Card, Star Health, Supreme Industries, Swaraj Eng, TIPS Films, UBL, UCO Bank, Vimta Labs, Warren Tea, and Zenlabs.