IRB Infrastructure Developers Ltd has executed the framework agreement, debenture subscription agreement, shareholders’ agreement, and other ancillary agreements with the financial investor, Anahera Investment Pte Ltd (an affiliate of GIC Private Ltd) and MBEL. Subject to the fulfilment of the conditions precedent and other conditions set out in the MBEL documents, the company’s and the financial investor’s contribution to the project is proposed to be in the ratio of 51:49 respectively. The company will also act as the project manager of MBEL.
Dilip Buildcon has received a project worth ₹702 crore from Gujarat Metro Rail Corporation. The completion period of the project is 26 months.
Equity shareholders of Zee Entertainment Enterprises have approved the proposed merger of Zee and BangIa Entertainment with and into Culver Max Entertainment, formerly Sony Pictures Networks India. ZEE received approval from the Competition Commission of India for the merger on October 4 and also received approvals from the BSE and the National Stock Exchange (NSE) in July 2022.
The board of Jupiter Wagons Ltd has taken on record the letter of intent on October 14, received in the matter of Stone India Ltd by the Resolution Professiona The resolution plan submitted by JWL has been approved by the COC unanimously, and it has been identified as the 'Successful Resolution Applicant'.
Bank of Baroda has announced the signing of a Memorandum of Understanding (MoU) with the Indian Army to extend the Baroda Military Salary Package to Agniveers recruited under the Agnipath Scheme. The MoU covers special benefits, including enhanced free comprehensive Personal Accident Insurance Cover (PAI), attractive offers on Debit and Credit Cards, and a host of other offers.
TVS Motor Company Ltd completed the acquisition of 48.27 per cent stake in Nkars Mobility Millennial Solutions Pvt Ltd on October 15, 2022, and, thereby, DriveX has become an associate of the company.
EC Wheels India Pvt Ltd (a subsidiary of Steelman Telecom Ltd) has launched its all-electric app cab service under the brand name Snap-E in line with an increasing need for environment friendly executive class cab services. EC Wheel India is a subsidiary of Steelman Telecom , which recently had a successful BSE SME IPO and got listed on October 10. Steelman Telecom focuses on providing service providers 5G roll-out solutions.
Results Calendar: ACC, Anup Engineering, Bharat Immunologicals, Bank of Maharashtra, Can Fin Homes, Choice International, Craftsman Automation, Elixir, Focus Business, Heidelbergcement India, Indowind Energy, Indus Finance, IRB InvIT, Jindal Drillings, Lorenzeni Apparels, Mahrashtra Seamless, Nakoda Group, Oriental Hotels, PVR, RPG Life Sciences, Seacoast Shipping, Spandana Sphoorty Financial, Star Housing Finance, Tata Coffee, Tata Metaliks, Tanfac Ind, Thangamayil Jewellery, Tokyo Fin, Transoceanic, Veeram Securities and White Organic.