SThe government will sell 4.92 per cent stake in SJVN at a floor price of ₹69 a share through a two-day offer for sale. While the OFS opens tomorrow for non-retail investors, retail investors can bid on Friday. The Government will divest 4.92 per cent equity including a Green Shoe option of 2.46 per cent,” DIPAM Secretary Tuhin Kanta Pandey posted on X.
Infosys and Nasdaq-listed NVIDIA have expanded their strategic collaboration with the aim to help enterprises worldwide, drive productivity gains with generative AI applications and solutions. Infosys will train 50,000 employees on NVIDIA AI technology.
Cipla’s arm has received observations from the US FDA. An inspection was conducted by the United States Food and Drug Administration (USFDA) at the manufacturing facility of InvaGen Pharmaceuticals Inc., wholly owned subsidiary of Cipla Ltd located in Central Islip, Long Island, New York, USA, from September 11 - 19. The inspection was a routine current Good Manufacturing Practices (cGMP) inspection and a Pre-Approval Inspection (PAI) for a site transfer product within InvaGen. On conclusion of the inspection, InvaGen has received 5 inspectional observations in Form 483. There are no repeat or data integrity (DI) observations. The Company will work closely with the USFDA and is committed to address these comprehensively within stipulated time
Biocon Biologics, subsidiary of Biocon Ltd, has received approval from the European Commission for marketing authorisation in the European Union (EU) for YESAFILI, a biosimilar of Aflibercept. YESAFILI, an ophthalmology product, is used for the treatment of neovascular (wet AMD) age-related macular degeneration, and visual impairment due to macular oedema secondary to retinal vein occlusion.
Indo Amines announced that it will commence the continuous production of aliphatic amines with start-up capacity of 300MT per month. Additionally, the company is innovating its continuous chemical synthesis, aiming to integrate it with decarboxylative ketonization chemistry, simultaneously scaling up its real-time production capacity to several metric tons. The company is currently in the process of expanding its product line to include various Ketonic products. Further, the Company will invest up to ₹75 crore for the projects collectively.
The Resolution Plan submitted by West Coast Paper Mills Ltd, as Resolution Applicant for the acquisition of Uniply Décor Ltd, (in CIRP) under the provisions of Insolvency and Bankruptcy Code, 2016, has been approved by the National Company Law Tribunal, Chennai Bench. The company’s consultant, Lagrange Point Advisors LLP, investment banking firm based in Mumbai informed that, Resolution Plan has been approved verbally by the Chennai Bench of the National Company Law Tribunal.
Exide Industries has invested ₹125 crore by way of subscription in the equity share capital of its wholly owned subsidiary, Exide Energy Solutions Limited, on rights basis. There is no change in the shareholding percentage of the company in EESL pursuant to such an acquisition.
Apollo Tyres Ltd has announced that Bias and OTR tyres production at its manufacturing facility in Limda, Gujarat has been stopped due to certain concerns amongst shop floor employees relating to renewal of long-term settlement agreement. The company is in discussions and negotiations with the labour union representatives to address their concerns and find an amicable resolution.
Viva highways Limited (VHL), a wholly owned subsidiary of Ashoka Buildcon Limited, has acquired 100, fully paid-up, 9.21%, nonconvertible debentures and 200 fully paid-up, 9.24%, non-convertible debentures, of ₹10,00,000 each, issued by Ashoka Concessions Limited, through open market purchase for an aggregate consideration of ₹30.6221 crore.
Zydus Lifesciences Limited has received final approval from the United States Food and Drug Administration (USFDA) for Clindamycin Phosphate Gel USP, 1%, which is used to treat acne.
WPIL has received a contract for supply of on board range of centrifugal pumps and spares for different classes of ships from Ministry of Defense (Navy) for ₹14.3 crore which is to be executed over a period of 24 months. Thr contract for on board centrifugal pumps will greatly strengthen WPIL product offering to the Indian Navy which is undergoing a major fleet expansion program.
Bartronics India Limited has entered into a Memorandum of Understanding (MOU), with Amplify Cleantech Solution Private Ltd, for Promoting Entrepreneurship, EV Charging Infrastructure Development, and facilitating Loan for the same from Grameen banks in rural areas across India.
Moneyboxx Finance Limited has entered into a strategic tie-up with a technology-based platform namely ‘Sikka’ - a business unit under Penny Fin-Tech Solutions Private Limited. This tie up is a collaboration between Moneyboxx Finance Limited and Penny Fin-tech solutions Pvt Ltd to use Sikka App for lead generation pertaining to loans.
Artson Engineering Ltd has taken a premise on leave and license for setting up a Unit for enhancing its fabrication/manufacturing capacity. The existing average structure fabrication capacity is 1000 MT per month at Umred, Nagpur Unit and the capacity utilisation is around 75-80%.
Nikhil Adhesives Limited has successfully started the trials of its new product RDP (Re-dispensible Polymer Powder).
Realty firm Godrej Properties on Wednesday said it has raised Rs 1,160 crore through issue of non-convertible debentures on private placement basis. In a regulatory filing, the company said the allotment committee of the Board of Directors approved the allotment of the Non-Convertible Debentures (NCDs).