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Himadri Speciality Chemical Ltd has announced that it has acquired a 40 per cent stake in a lithium-ion electrode materials firm Invati Creations for ₹45.16 crore through a combination of cash and a share swap deal. This announcement comes on the heels of Himadri Speciality’s plan to build India’s first-ever commercial plant for lithium-iron-phosphate (LFP) cathode active material in Odisha, with an estimated cost of ₹1,125 crore.
ASM Technologies has plans to raise ₹170.1 crore through preferential allotment of equity shares and warrants. ASM Technologies has raised ₹70 crore out of total planned fundraise of ₹170.1 crore and the balance of ₹100.1 crore will be received over the period of 18 months, the technology firm said in a regulatory filing.
Engineering and construction major Larsen & Toubro Ltd on Wednesday bought 1.20 crore units of National Highways Infra Trust for ₹149.65 crore through an open market transaction. The National Highways Infra Trust is an infrastructure investment trust (InvIT) sponsored by the National Highways Authority of India (NHAI).
PB Fintech, the promoter of Policy Bazaar, on Wednesday said its board has approved the incorporation of a wholly-owned subsidiary to carry on the business of payment aggregator.
Aircraft lessor Wilmington Trust SP Services has moved NCLAT, filing an appeal against an earlier order of NCLT, which had dismissed its insolvency plea against low-cost carrier SpiceJet. Wilmington Trust’s petition has been listed for hearing on Thursday before a bench headed by the Chairperson Justice Ashok Bhushan of the National Company Law Appellate Tribunal.
Facing a huge backlash over plans for separate green uniforms for a new vegetarian-only food delivery service, Zomato CEO Deepinder Goyal on Wednesday said the company will roll back the plan, and all delivery persons will continue to sport the current red shirts/t-shirts.
Life Insurance Corporation (LIC) on Wednesday said it terminated services of Yogesh Garg against whom a confirmatory order issued by capital market regulator SEBI in front-running trades case. Front-running refers to an illegal practice in the stock market where an entity trades based on advanced information from a broker or analyst before the information has been made available to its clients.
Technology services firm Wipro on Wednesday said it has appointed Anne-Marie Rowland as the Chief Executive Officer of Capco, effective April 1, 2024. Capco is a global technology and management consultancy focused on financial services and energy industries, which was acquired by Wipro in March 2021.
The National Company Law Appellate Tribunal (NCLAT) has directed 11 public sector lenders not to take coercive action against IL&FS and its group companies till its next hearing on May 14. A two-member NCLAT bench headed by Chairperson Justice Ashok Bhushan also issued notices to the banks, along with the Reserve Bank of India (RBI), directing them to file a reply.
Kirloskar Electric Company Ltd has entered into an agreement with respect to the proposed sale of company’s immovable property admeasuring 1.06 acre at Hubli Taluk, Hubli. The total Consideration for the proposed sale would be ₹3 crore.
GE Power India Ltd has received a Purchase Order from Bharat Aluminium Company Limited and Nuclear Power Corporation Of India Ltd (A Government of India Enterprise) (NPCIL), Tarapur, Maharashtra. Bharat Aluminium Company Limited has awarded order for D&E, Supply and E&C of Boiler Firing system at M/s BALCO, Korba, Chhattisgarh worth ₹8.95 Crores plus (GST 18 per cent).
TVS Motor Company has announced changes to its board with the appointment of two new independent directors subject to approval of the shareholders. The two new members are Chennai-based Sanmar Group Chairman Vijay Sankar, and Chairman of Shailesh Haribhakti & Associates Shailesh Haribhakti. Kuok Meng Xiong, Independent Director of the company, will step down effective close of business hours of the ensuing Annual General Meeting 2024, owing to his increased business commitments and personal reasons.
Crompton Greaves Consumer Electrical has received fourth consecutive order for solar water pumping system from HAREDA, Haryana, under the PM-KUSUM scheme. The order is for supply, installation and commissioning of 7.5 HP DC; 10 HP AC and 10 HP DC solar photovoltaic water pumping systems, worth over ₹9 crore. The total orders from HAREDA now are at ₹65.6 crore.
Sasken Technologies informed the exchanges that it is planning to acquire 60 per cent stake of Anups Silicon Services Pvt. Ltd. by subscribing to the compulsory convertible debentures through a preferential issue on a private placement basis. The acquisition is worth ₹33.2 crore.
Prince Pipes and Fittings has entered into an asset purchase agreement with Klaus Waren Fixtures Pvt. Ltd. and NM Shah to purchase assets including the “Aquel” brand, along with all intellectual property, land, buildings, civil structures and other office equipment in two tranches. The acquisition will be done for a cash consideration not exceeding ₹55 crore.
Cyient said Infotech HAL Ltd., Bengaluru, a 50:50 Joint Venture of Cyient with HAL, has initiated corporate insolvency resolution process under section 10 of the Insolvency and Bankruptcy Code, 2016 before the Bengaluru Bench of the National Company Law Tribunal (NCLT).
Wockhardt has launched QIP to raise funds and fixed the floor price at ₹544.02 a share.
The board of Suzlon Energy has approved conversion of 22.86 lakh partly paid-up equity shares of face value of ₹2 each into fully paid up equity shares.
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