Canada Pension Plan Investment Board will be selling 3.3 crore shares or 1.66 per cent stake in Kotak Mahindra Bank in a block deal on Friday for a total deal value of ₹6,225.5 crore. The stake sale is priced at ₹1,792.18-1886.50 a share.
The board of Hindustan Aeronautics will meet on June 27 to consider a proposal of sub-division of equity shares of the company. Earlier in 2021 also, the company had decided to split the company shares, when price was hovering around ₹1,300. However, the board on September 21, 2021, had deferred the proposal.
Seat Limited has entered into a Fifth Addendum Agreement to the existing Share Subscription and Shareholders’ Agreement with Tyresnmore Online Private Limited and other parties, for making a further investment of up to ₹9 crore in Tyresnmore on such terms and conditions as prescribed therein to acquire additional 10.89 per cent of the fully diluted post issue total share capital of Tyresnmore. Upon completion of the aforesaid investment, Tyresnmore shall become Subsidiary of CEAT Limited and the total holding of CEAT Limited in Tyresnmore on a fully diluted basis would be 56.9 per cent. Tyresnmore is engaged in the business of selling automotive tyres, accessories and/or providing services of installing, fitting, wheel balancing and wheel alignment for automotive tyres.
GAIL India has informed the stock exchanges that it has released payment to all stakeholders of JBF Petrochemicals as per an NCLT order. The Corporate Insolvency Resolution Process (CIRP) will be completed in 15 months. GAIL has already infused a total resolution plan amount of Rs 2,101 crore, thus acquiring 100 per cent stake in JBF Petrochemicals. GAIL was adjudged as a Successful Resolution Applicant and NCLT vide Order dated March13, 2023, approved Implementation of GAIL’s Resolution Plan for JBF Petrochemicals Ltd. The acquisition of JBFPL offers GAIL an opportunity to add a new product Purified Terephthalic Acid (PTA) to GAIL’s existing petrochemical portfolio. GAIL is looking forward to revive the business operations of JBFPL and is committed to turn it around as a thriving manufacturing entity.
Biocon has informed the exchanges that its Active Pharmaceutical Ingredient (API) manufacturing facility in Bengaluru has received a certificate of GMP (good manufacturing practice) compliance from the Competent Authority of Germany. The facility underwent an EU GMP inspection in February 2023.
Tata Power’s subsidiary Tata Power Renewable Energy through its subsidiary TP Vardhaman Surya Ltd has received a contract to set up a 966 MW round-the-clock hybrid renewable power projects for Tata Steel. The project has the hybrid renewable capacity of 379 MW solar and 587 MW wind power. Tata Steel will invest 26 per cent equity in the said project. The project will be commissioned by June 1, 2025, as per the arrangement.
CCL Products (India) Ltd (CCL) has acquired Percol, Rocket Fuel, Plantation Wharf, The London Blend, Perk Up and Percol Fusion from Food Brands Group, a subsidiary of Löfbergs Group. The agreement accelerates CCL’s strategy in expanding the manufacturing and distribution of FMCG products globally. The acquisition will give CCL an access to major supermarkets in the UK, which is Europe’s largest instant coffee market with annual retail sales of $850m (₹69,18,700 crore).
Indian Hotels Company Ltd (IHCL) on Thursday said it has signed its first hotel in Kumbalgarh, Rajasthan, under SeleQtions brand. This 176-key property spread over 11 acres is a conversion and will be rebranded as an IHCL - SeleQtions hotel after extensive renovations, IHCL said in a statement.
Zydus Lifesciences on Thursday said it has received approval from the US health regulator to market a generic drug used to treat certain stomach and esophagus problems. The company has received approval from US Food and Drug Administration to market Esomeprazole Magnesium for delayed-release oral suspension in 20 mg and 40 mg strengths in the American market, the drug maker said in a statement.
Aether Industries has inked a license agreement with Saudi Aramco Technologies Company for the commercialisation of the sustainable converge polyols technology. The agreement formally initiates Aether’s activities towards the manufacturing and commercialisation at Aether of the Converge polyols technology and product series, the manufacturing process for which has been previously jointly developed and validated at pre-commercial scale by Aramco and Aether. The agreement also captures the next set of important milestones.
NHDC Limited (a subsidiary of NHPC Limited) has been allotted a Pump Hydro Storage site in Village Narmada Nagar, Punasa, Dist. Khandwa, Madhya Pradesh with estimated storage capacity of 525 MW X 6 hours, by New and Renewable Energy Department, Govt. of Madhya Pradesh
Capacit’e Infraprojects Limited has announced its plan to raise ₹96.30 crore through a preferential issue of equity shares, subject to shareholders approval. The funds raised will be utilized to support the Company’s long-term working capital requirements. Capacit’e Infraprojects has secured proposed investments from esteemed investors, including Param Value Investments, Vikas Khemani and Capri Global Holding Private Limited.
TCM Ltd has received the work order from Agency for New and Renewable Energy Research and Technology (ANERT), Department of Power, Government of Kerala.