State Bank of India (SBI), on Tuesday, said it will acquire an entire 20 per cent stake of SBI Capital Markets in SBI Pension Funds. The stake transfer would be subject to all regulatory approvals, SBI said in a regulatory filing.
Reserve Bank of India (RBI) has eased the restrictions on onboarding of new customers by HDFC Credila Financial Services, parent company, HDFC, informed the exchanges. The relaxation is subject to the application for change in shareholding of HDFC Credila as an NBFC, being put forth by the central bank before July 31, with the assurance that the shareholding of HDFC Bank in HDFC Credila will be be brought down to 10 per cent by March 31, 2024.
HDFC acquired a 0.69 per cent equity stake in its subsidiary, HDFC Life Insurance Company, via open market transactions on June 27. As per the bulk deals data, HDFC has purchased 1.49 crore shares of HDFC Life Insurance at an average price of ₹667.1 a share. The stake buy was worth ₹992.64 crore.
Shareholders of the Adani-group-controlled NDTV have approved the proposals to appoint new directors to the board after Adani Group acquired the media firm. All special resolutions regarding the appointment of - Sanjay Pugalia and Senthil Sinniah Chengalvarayan - as directors, and U K Sinha and Dipali B Goenka as independent directors have got shareholders’ nod through the e-voting process.
Titagarh Railsystems Ltd, on Tuesday, said it has received a Letter of Acceptance (LOA) from the Gujarat Metro Rail Corporation (GMRC) Limited for designing and manufacturing 72 standard gauge cars for Surat Metro Rail. The order value is about ₹857 crore.
Gland Pharma, on Tuesday, said the US health regulator has issued a Form 483 with one observation after inspecting its Hyderabad-based facility. The US Food and Drug Administration (USFDA) conducted a pre-approval inspection (PAI) for seven products and good manufacturing practice (GMP) inspection at the company’s Pashamylaram facility in Hyderabad between June 15 and June 27, 2023, the drug firm said in a regulatory filing. The inspection was concluded with one 483 observation, it added.
GR Infraprojects Ltd, on Tuesday, said its engineers are assessing the reason for the caving in of a bridge pillar in the Kishanganj district of Bihar. In the incident, which took place on Saturday, a pillar of the bridge over the river Mechi had collapsed.
Competition Commission of India (CCI), on Tuesday, cleared the acquisition of a stake in TCNS Clothing Co by Aditya Birla Fashion and Retail Ltd. Aditya Birla Fashion and Retail Ltd (ABFRL) is engaged in retailing of branded products, including apparel, footwear, and accessories segment. The entity is a listed company and a part of the diversified conglomerate Aditya Birla Group. The proposed combination involves the acquisition of 51 per cent of the share capital of TCNS Clothing Co Ltd by ABFRL, the competition watchdog said in an official release
The board of Swan Energy has approved issuance of up to 2.3 crore equity shares at a price of ₹300 per share or at a price not lower than the minimum price, whichever is higher, on a preferential basis to the non-promoter.