Aurobindo Pharma has acquired the domestic formulation business of Veritaz for a consideration of ₹171 crore on debt-free cash-free basis. This acquisition vehicle will greatly help Aurobindo as a launch pad for marketing biosimilar and other products in India, the company said in a statement. The transaction comes into effect from April 1, 2022 and is expected to close by May 2022, it added.
Power Grid Corporation of India
State-run Power Grid Corporation of India (PGCIL) on Monday said it has approved an investment of ₹821 crore in five transmission projects related to strengthening the system and to enhance capacity. All the projects will be commissioned in 2023 and 2024.
Sudarshan Chemical Industries
Sudarshan Chemical Industriessaid that its board has approved a proposal to raise up to ₹200 crore through issue of debentures, on private placement basis in one or more series/tranches.
Mahindra & Mahindra Financial Services
Mahindra & Mahindra Financial Services has raised over ₹255 crore by issuing bonds on private placement basis. The tenure of the bonds is 9 years and 234 days, and the date of maturity is November 17, 2031. The bonds carry coupon of 7.45 per cent per annum and the Extended Internal Rate of Return (XIRR) is 7.51 per cent.
The board of Megasoft Ltd has transferred/sold all its holdings in its two wholly owned overseas subsidiaries, XIUS Holding Corp, US, and Megasoft Consultants SDN. BHD Malaysia, at the current fair valuation, to its Wholly owned Indian Subsidiary, Nelatop systems Pvt Ltd.
Swelect Energy Systems
Swelect Renewable Energy Private Limited, subsidiary of Swelect Energy Systems has commissioned a 11 MW solar power plant in Tamil Nadu. Earlier, the subsidiary had executed power purchase agreements with Hatsun Agro Product Limited, Prashanth Fertility Research Centre Private Limited and Mudhra Fine Blanc Private Limited - captive users for the sale of solar Power - for 15 years from the new solar power plant set up under Group Captive User model at Manparai in Trichy.
Zensar Technologies has announced the opening of its global delivery centre in Kolkata. The centre is strategically located to attract skilled individuals in the company's service lines of application services, engineering services, and data engineering and analytics. The centre will hire a mix of fresher and lateral talent to support client projects worldwide.
Kilpest India Ltd
3B BlackBio Biotech India Limited, subsidiary ofKilpest India Ltd, has completed the acquisition of 70 per cent equity stake in HS Biolabs Ltd., Manchester, United Kingdom. As per the terms of joint venture agreement entered between 3B BlackBio Biotech India Limited and HS Biolabs Limited. Dhirendra Dubey and Nikhil Kuber Dubey have been appointed as Directors in the HS Biolabs Ltd.
Mafatlal Industries has signed sale deed in favour of Goldi Solar Private Limited for selling certain land at Navsari admeasuring apx. 72,000 sq. mtrs. for an aggregate consideration of ₹16.40 crore and accordingly the consideration was received by the company.
Tata Powerhas collaborated with Rustomjee Group to provide end-to-end EV charging solutions across all its residential and commercial projects in Mumbai Metropolitan Region (MMR). Under this collaboration, Tata Power will install dedicated charging infrastructure for residents of Rustomjee in Mumbai MMR. EV owners will have the access to a 24x7 charging facility along with maintenance support.
Anjani Portland Cement
Anjani Portland Cement has announced that pursuant to purchase of additional 2,28,518 shares of Bhavya Cements, a subsidiary company, being 0.16 per cent of its paid-up equity shares capital, from its existing shareholders and pursuant to the completion of the buyback offer given by Bhavya Cements, the shareholding percentage of the company in Bhavya Cements has been increased from 93.53 per cent to 99.08 per cent.
Market regulator SEBI has directed Ruchi Soya to give an option to investors, who participated in its follow-on public offer (FPO), to withdraw their bids. SEBI’s direction comes in the wake of circulation of unsolicited SMSes for advertising the FPO and luring investors. Ruchi Soya’s ₹4,300-crore FPO was oversubscribed 3.6 times and closed on Monday. The qualified institutional buyer portion of the FPO was subscribed 2.2 times, high-net-worth-individual (HNI) portion 11.75 times and employee portion nearly 7.8 times. The retail portion of the FPO was subscribed by only 90 per cent.