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Metro Brands has acquired Cravatex Brands Ltd, which is a retail, brand licensing, distribution and sourcing company that has an exclusive long‐term licence for the Italian sportswear brand FILA, owns sportwear brand Proline, and represents other international brands.
The acquisition is based on fulfilment of closing conditions by both parties. Paragon Partners, an existing investor in Cravatex Brands, will also sell its entire stake as part of this transaction. The deal will be done at a pre-money enterprise valuation of ₹202.17 crore, which is subject to pre- and post-closing adjustments based on the outstanding debt of CBL as at the completion date
State-owned SJVN has won a 105-MW floating solar project worth Rs 730 crore in a e-reverse auction of Maharashtra State Power Generation Company (MAHAGENCO).
Triton Electric Vehicle India Pvt Ltd, a part of Triton Electric Vehicle LLC, US, has issued a Letter of Intent to Bharat Electronics Ltd for procurement of 300 KW Li-Ion Battery Packs for its semi-truck project in India at an estimated value of ₹8,060 crore. Meanwhile, the defence PSU has signed an MoU with Triton Electric Vehicle for the manufacture of hydrogen fuel cells with technology transfer from TEV, to meet the requirements of the Indian market and mutually agreed export markets.
The board of Life Insurance Corporation has approved infusion of equity capital of LKR 60 crore (approximately ₹13.20 crore, based on the exchange rates prevailing currently) in LIC (Lanka) Ltd subject to approval from the Insurance Regulatory and Development Authority of India (IRDAI) and Central Bank of Sri Lanka.
The board of Rossarri Biotech Ltd has approved the incorporation of a wholly owned subsidiary in People’s Republic of Bangladesh with an estimate aggregate Capital outlay of BDT 300 million (approximately ₹25 Crore). The wholly owned subsidiary will enable the company to expand the market for RBL products in Bangladesh.
Jindal Steel & Power has signed an MoU with Greenko Group to facilitate 1,000 MW of carbon-free energy for its steel plant at Angul in Odisha. It aims to become a net-zero steel company by 2035, it said in a notice to the stock exchanges.
International Finance Corporation FDI AC has sold 1.15 lakh shares or 0.14 per cent stake in Angel One through the open market on October 17. Following this, IFC's shareholding in the company has dropped to 4.04 per cent from 4.18 per cent.
LIC on Wednesday said its shareholding in hydro power generator NHPC has come down to 5.2 per cent from 7.23 per cent. LIC sold 2.03 crore shares at an average price of ₹34.42 apiece from March 17 to October 18.
Results Calendar: Asian Paints, Axis Bank, Bajaj Finance, Colgate Palmolive, Aarti Drugs, Canara Bank, Central Bank of India, Clean Science and Technology, Coforge, Dixon Technologies, Happiest Minds Technologies, ITC, ICRA, Indian Energy Exchange, ICICI Securities, L&T Finance Holdings, Mphasis, Nazara Technologies, Shriram Transport Finance, Symphony, Tata Consumer Products, Tanla Platforms, United Breweries, Union Bank of India, and UTI Asset Management Company.
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