Bank of Maharashtra has initiated its Qualified Institutions Placement (QIP) on September 30, 2024, aiming to raise up to Rs.3,500 crore. The public sector lender has set a floor price of Rs.60.37 per share, marginally higher than the previous closing price of Rs.59.83. The bank may also offer a discount of up to 5% on …
Alphageo (India) Limited has landed a contract worth Rs.131.63 crore from Oil India Limited. The project involves acquiring 2D seismic data in the Ganga and Punjab Basin, to support oil and gas exploration in these regions. This contract is set to run until June 2026. For those unfamiliar, 2D seismic data acquisition is a technique …
On October 1, 2024, TARC Limited (The Anant Raj Corporation) announced the refinancing of its existing debt along with a ₹250 crore additional working capital facility available on call. This strategic decision is backed by a successful fundraising effort involving a consortium of esteemed Indian banks and financial institutions, reflecting their confidence in TARC’s financial …
On October 1, 2024, Sun Pharmaceutical Industries Ltd (Sun Pharma) and Philogen S.p.A. announced a global licensing agreement to commercialise Philogen’s cancer immunotherapy product, Fibromun (L19TNF). Fibromun is currently being tested in clinical trials for treating soft tissue sarcoma and glioblastoma. Under the agreement, Sun Pharma will have exclusive global rights to market Fibromun, while …
On October 1, 2024, Zen Technologies Limited (Zen) announced that it has secured an Annual Maintenance Contract (AMC) valued at ₹46 crore (inclusive of 18% GST) with the Ministry of Defence. This 5-year agreement is designed to ensure the continuous maintenance of advanced simulators developed by Zen, reinforcing the company’s commitment to supporting India’s defence …
The drone market in India is expected to generate revenue of US$27.0 million in 2024, with a projected annual growth rate of 5.78% (CAGR 2024-2029). By 2029, the drone market volume in India is forecasted to reach 79.6 thousand units, with a 6.6% volume growth expected in 2025. A significant factor contributing to the market’s …
On September 30, Bharti Airtel, one of India’s largest telecom operators, announced the prepayment of ₹8,465 crore to the Department of Telecom (DoT), settling its deferred dues for spectrum acquired in 2016. These liabilities, which carried an interest rate of 9.3%, have been fully repaid ahead of schedule, allowing Airtel to reduce its debt burden …
The promoters and management of Andhra Cements Limited have undergone multiple changes since its incorporation on December 9, 1936, under the Indian Companies Act 1913. Following its 1994 acquisition from BIFR, the business was formerly managed by M/s Duncan Agro Industries Ltd., also known as Duncan Industries Ltd. (DIL), which was overseen by Shri G.P. …
The travel industry is undergoing a significant shift, driven by the digital-first consumer’s insatiable appetite for personalized, seamless experiences. AI is emerging as the linchpin of this transformation, enabling travel providers to cater to diverse customer preferences at scale. Thomas Cook India Group, cognizant of this evolving landscape, is poised to leverage AI to enhance …
Krsnaa Diagnostics, India’s leading diagnostics services provider, has formed a groundbreaking alliance with Medikabazaar, the country’s largest B2B healthcare procurement platform, and United Imaging, a global leader in advanced imaging technologies. This partnership, backed by a substantial investment of over ₹300 crore, aims to establish a network of 30+ state-of-the-art imaging centres primarily in Tier-2 …
