The board of directors of INOX Leisure (INOX) and PVR have separately approved an all stock amalgamation of INOX with PVR. Shareholders of INOX will get 3 shares of PVR for every 10 shares held in the company. The amalgamation is subject to approval of the shareholders of both companies, the stock exchanges, SEBI and other regulatory approvals as may be required. Post the merger, the promoters of INOX will become co-promoters in the merged entity along with the existing promoters of PVR. Upon effectiveness of the scheme, the Board of Directors of the merged company would be re-constituted with a total board strength of 10 members and both the promoter families having equal representation with 2 board seats each. Post the merger, INOX promoters will have 16.66 per cent stake, while PVR promoters will have 10.62 per cent stake in the combined entity.

Aster DM Healthcare has signed an agreement with the Tamil Nadu government to set up healthcare facilities in the state. The MoU proposed an investment of ₹500 crore in hospitals, pharmacies and laboratories in Tamil Nadu

Jyoti Structures Ltd has secured a contract from Adani Transmission for turnkey design, supply and construction of 765 KV Double Circuit transmission line from Khavda to Bhuj in Gujarat. The contract valued at ₹382 crore, including GST, is to be executed in about 17 months by August 2023. RITES, a transport infrastructure consultancy and engineering company, and Mineral Exploration Corporation Ltd (MECL) have entered into an agreement to jointly bid and execute works related to geotechnical investigations for civil engineering infrastructure projects. Under this arrangement, RITES and MECL will collaborate for technical services, including consultancy assignments, knowledge sharing and research & development activities.

Reliance Infrastructure has announced that an application has been filed by financial creditor, namely SREI Equipment Finance Ltd, in relation to an amount of ₹38.6 crore. No notice in relation to the above has yet been issued by NCLT to the company.

Jagdish Kumar Arora, promoter of Som Distilleries & Breweries Ltd, has been purchasing the equity shares of the company through open market purchase regularly. With the new purchases, the promoter group’s stake has increased in the company from 1.99 crore shares (28.5083 per cent) to 2.03 crore shares (29.0198 per cent).

Prestige Estates Projects has signed definitive documents with CPP Investment Board Private Holdings (4) Inc., an affiliate of Canada Pension Plan Investment Board, for acquiring 51 per cent of the rights and interest held by the company in Prestige RMZ Star Tech, which has commercial project in Bengaluru.

An application under Section 7 of the Insolvency and Bankruptcy Code, 2016, has been filed against Reliance Power Ltd and its subsidiary Reliance Natural Resources Ltd (RNRL) by Piramal Capital and Housing Finance Ltd in relation to financial claim of ₹526.10 crore due from RNRL.

Vishnu Chemicals, a wholly-owned subsidiary of Vishnu Barium Pvt Ltd, has completed the brownfield expansion at Srikalahasti. This expansion increases its capacity by 50 per cent from the current 40,000 mtpa in the subsidiary company.

The board of Manappuram Finance has considered and approved a fund raising programme of the company for FY 2022-23, which includes issuance of Redeemable Non-Convertible Debentures up to ₹7,800 crore by way of private placement or/and public issue in one or more tranches.

The board of Expleo Solution has approved the definitive agreements to be entered with Lucid Technologies and Solutions Private Ltd and its subsidiary Lucid Technologies and Solutions LLC towards purchase of their specific assets i.e. Intellectual Property and Technical Knowhow in India and customer contracts in the US. The definitive agreements will be executed with effect from April 1, 2022. Lucid is engaged in Data Governance, Data Security and analytics, led by their IP driven accelerators, capabilities.

Tree House Education & Accessories has entered into an agreement with Edu Realty Andheri East School LLP for its property, situated at Desusar village in Jhunjhunu district of Rajasthan, for a total consideration of ₹11 crore . The proceeds of the sale will be utilised against the loan settlement of the ICICI Bank.

Dilip Buildcon has been declared L-1 bidder for the tender floated by the National Highways Authority of India on hybrid annuity basis in Telangana. The bid project cost is ₹1,647 crore. The project is for 4-laning of the Karimnagar Warangal section.

Suzlon Energy Ltd shareholders, in an EGM, have approved proposals for conversion of the existing loan, OCDs to equity shares and preferential issue of warrants to new lender; and re-appointment of Tulsi R. Tanti as the Managing Director .

Emami Ltd has announced the acquisition of prickly heat powder and cool talc brand Dermicool from Reckitt for ₹432 crore, excluding taxes & duties. The acquisition is funded through internal accruals and is subject to customary closing conditions.

Info Edge India Ltd has invested ₹140 crore in Allcheckdeals India Pvt. Ltd. (ACD), a wholly-owned subsidiary, already holds 100 per cent stake in ACD on a fully converted and diluted basis. Accordingly, it is a wholly-owned subsidiary of the company, and provides brokerage services in the real estate sector.

Azim Premji’s investment arm Premji Invest Opportunities Fund on March 25 agreed to pick a little over 10 per cent stake in Hyderabad-headquartered cement firm Sagar Cements Ltd for around ₹350 crore. The board of Sagar Cements has approved issuing 1.32 crore equity shares of the face value of ₹2 each to Premji Invest at a premium of ₹265 a share on a preferential basis. Sagar Cements ranks among India’s lowest-cost cement producers with its production capacity currently standing at 8.25 million tonnes a year.

Coal India has resumed its mining operations at Tikak colliery in Assam, a statement said on Saturday. Mining operations at NEC were halted owing to non-availability of land for overburden dump and certain clearances.

DLF has said it will invest around ₹2,000 crore to construct two new shopping malls in Gurugram and Goa, as it sees huge growth potential in organised retail with the opening up of the economy after significant reduction in Covid-19 cases.

Adani Total Gas has forayed into electric mobility by launching its first electric vehicle charging station (EVCS) in Ahmedabad. The EVCS located at ATGL’s CNG station at Maninagar in Ahmedabad, will enable a quick turnaround time for EV owners using digital platforms. The company aims to expand its network by setting up 1,500 EVCS across the country and has kept an expansion plan ready once demand for the EV ecosystem picks up in the country

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