Reliance Retail Ventures Limited has announced that global investment firm KKR, through an affiliate, will invest ₹ 2,069.50 crore into RRVL, a subsidiary of Reliance Industries Limited. This investment values RRVL at a pre-money equity value of ₹8.361 lakh crore, which makes it among the top four companies by equity value in the country. KKR’s follow-on investment will translate into an additional equity stake of 0.25% in RRVL on a fully-diluted basis. This, combined with its stake from its investment of ₹ 5,550 crore in RRVL in 2020, will take its total equity stake in RRVL to 1.42% on a fully-diluted basis. The previous fund-raise round by RRVL in 2020 from various global investors of an aggregate amount of ₹ 47,265 crore was done at a pre-money equity value of ₹ 4.21 lakh crore.
Engineering & Infrastructure conglomerate Larsen & Toubro has increased the buyback price to Rs 3,200 from Rs 3,000 after a surge in its stock price over the last one month. L&T had announced a share buyback worth Rs 10,000 crore on July 25 after its June quarter results, a first in the company’s history after a failed attempt five years earlier in 2018.
Media reports has it that Bain Capital, which holds stake in L&T Finance Holdings Ltd. under the name of BC Invsts, is likely to sell stake worth up to $102 million or Rs 850 crore via block deals.
RBI has approved the re-appointment of Sandeep Bakhshi as Managing Director & CEO of ICICI Bank with effect from October 4, 2023 till October 3, 2026,
Novelis Inc., a leading sustainable aluminum solutions provider and subsidiary of Hindalco Industries, has announced that in early 2023 it signed a new anchor customer contract with aluminum can maker Ball Corporation in North America. Under the contract, Novelis will supply aluminum sheet to Ball can making plants in North America. With this contract and other commitments, Novelis has secured all of the beverage can capacity from its new plant in Bay Minette, Ala., underscoring the strong demand for the company’s high-recycled-content beverage can sheet. The new plant, expected to begin commissioning in 2025, will be the first fully integrated aluminum manufacturing plant built in the US in nearly 40 years and will have an initial capacity of 600,000 tonnes of finished goods primarily for the North American beverage can and automotive markets.
The Board of Kesar Terminals & Infrastructure Limited has approved the draft of Share Subscription & Share purchase Agreement to be executed between the company, Kesar Multimodal Logistics Limited & DP World Multimodal Logistics Pvt Ltd for sale of up to 100 per cent equity and/or preference stake in KMLL, wholly owned material subsidiary of the Company subject to the fulfilment of conditions precedent and necessary approvals from the regulatory/statutory authorities. The Company, KMLL & DPW has signed the SSPA on Monday.
PowerGrid Corporation of India has been declared as successful bidder under tariff based competitive bidding to establish Inter-State Transmission System Project - Transmission system for evacuation of power from REZ in Rajasthan (20 GW) under Phase-III Part C1 - on Build, Own Operate and Transfer (BOOT) basis. The project comprises establishment of a new 765/400kV substation along with STATCOM at Ramgarh, 765kV D/C Transmission Line and associated bays extension works at other existing substation in Rajasthan.
The Board of directors of Regency Fincorp Ltd has approved the allotment of 5500 Unlisted Secured Non-Convertible Debentures of face value of Rs. 1000/- each on private placement basis.
The Board of Laurus Labs Limited has accorded its final approval for acquisition of 37,641 equity shares of face value of Rs.10 each of Laurus Bio Private Limited through secondary purchase of shares from one of the Promoters and non-executive director and his family members and also from few Employee/ex-Employee shareholders for an aggregate amount of Rs.71.60 crore. Pursuant to the above acquisition, the stake of the Company in Laurus Bio Private Limited shall reach to 87.58 per cent on fully diluted basis (including outstanding ESOPs and the Share Warrants).
The Board of Shree Rama Multi-Tech Limited has approved the issue and allotment of 7,66,666 15 per cent Cumulative Redeemable Preference Shares of Rs 100 each on the same terms and conditions to redeem the unredeemed Preference Shares together with the unpaid dividend thereon under Section 55(3) of the Companies Act and its rules made, thereunder pursuant to order of National Company Law Tribunal, Ahmedabad Bench.
Olectra Greentech Limited in association with Evey Trans Private Ltd ) has incorporated Evey Trans (MSR) Private Ltd. Further, Olectra has subscribed for 3,400 equity shares (34 per cent stake) of Rs. 10/- each in the newly incorporated Company.
Krishna Institute of Medical Sciences (KIMS) has acquired a further 13.24 percent in Kondapur Healthcare Limited for Rs 20 cr. The company is yet to commence its operations. The total equity stake as of September 11, 2023 is 19.86 percent.
Gufic Biosciences Limited (Gufic) has received approval from the Therapeutic Group Administration (TGA), Australia and the National Health Surveillance Agency (ANVISA), Brazil for Parecoxib Sodium 40mg Lyophilized Powder for Injection, a selective COX-2 inhibitor, which shall be used for short-term treatment of acute pain and post-operative pain in adult patients. Gufic has been persistently committed to saving and improving lives of patients across the globe with its continuous efforts through the international regulatory agencies to bring novel molecules for the mankind.
Mishtann Foods plans to raise Rs 99.90 crore by issuing p to 740,00,000 convertible equity warrants with each warrant convertible into one fully paid up equity share of the company. The warrants will be issued to non promoters for 18 months at Rs 13.50 warrant. Besides the company said it will also raise Rs 200 crore from promoters via convertible debt.
Promoters of Kinetic Engineering has infused Rs 28 crore in the company through equity shares worth Rs 27.42 crore at Rs 120 per share and 80,000 Optionally Convertible Cumulative Preference Shares at Rs 120 each.
The board of Gallantt Ispat has approved the setting up a new Direct Reduced lron (oRl) Kiln having a capacity of 1,65,000 TPA at the Company’s manufacturing facilities at Gorakhpur, Uttar Pradesh. The project will cost Rs 125 crore and money will be raised internally. Besides, the company proposes to install an additional furnace of 30 ton per heat capacity. This furnace is expected to improve production capability by 15 per cent. The installation of this furnace will cost around Rs 25 crore and it is expected to be operational in the beBinning of calendar 2024.