Leading Fast Moving Electrical Goods (FMEG) company Havells India Ltd is in plans to expand the company’s export markets in the residential air-conditioner segment after increasing its production capacity by 2X. Details of the Expansion On Tuesday, the Executive Director of Havells India, Yogesh Kumar Gupta, said that the company has invested around ₹400 crore …
On Tuesday, Grasim Industries Limited informed in an exchange filing that the company has raised ₹1,250 crore from the International Finance Corporation through non-convertible debentures. Details of the Funding On March 19, 2024, the flagship company of Aditya Birla Group, Grasim Industries Limited, stated in an exchange filing that they have raised ₹1,250 crore (equivalent …
The Adani Group, a major Indian conglomerate, has recently announced a strategic move within its renewable energy portfolio. Adani Tradecom Limited (ATL), a wholly-owned subsidiary of Adani Enterprises, has acquired the remaining 49% stake in Adani Green Technology (AGTL) from its subsidiary, Adani Trading Services LLP. This acquisition effectively makes AGTL, and consequently its wholly-owned …
Sterling & Wilson Renewable Energy Ltd of the Shapoorji Pallonji Group is in plans to raise ₹700 crore from a group of strategic investors through a stake sale in its data centre business. Details of the Stake Sale The CEO of the data centre business at Sterling and Wilson Private Limited (SWPL), Prasanna Sarambale, stated, …
Reliance Power, led by Anil Ambani, settled the debts owed to three banks: Axis Bank, DBS Bank, and ICICI Bank. Reports suggest that the settlement happened in the last week while its parent, Reliance Infrastructure, is working towards settling dues of ₹2,100 crore to JC Flowers Asset Reconstruction Company. Reliance Power strives to be a …
The Competition Commission of India (CCI) recently approved the acquisition of Kesoram Cement Business by UltraTech Cement Limited. This move marks a significant consolidation within the Indian cement industry, with potential repercussions for market dynamics and competition. What’s the Deal? The acquisition involves the transfer of Kesoram Industries’ entire grey cement business to UltraTech Cement. …
On March 19, 2024, Mumbai-based private lender Yes Bank Ltd informed in an exchange filing that the company had completed the transfer of its exposure to Katerra India Pvt. Ltd to Prudent ARC Ltd. Details of the Transaction On Tuesday, Yes Bank stated, “Yes Bank Limited vide newspaper publication dated January 20, 2024, had invited …
On March 19th, Zomato launched a “Pure Veg Mode” along with a “Pure Veg Fleet” on its platform, catering to customers with a 100% vegetarian dietary preference. This fleet exclusively delivers vegetarian food in green-labelled boxes, ensuring no cross-contamination with non-vegetarian options from restaurants. Founder Deepinder Goyal also announced plans for specialized fleets catering to …
Vodafone Idea informed the exchanges that American Tower Corporation (ATC), one of its largest telecom infrastructure service providers, has requested VIL to convert 14400 OCDs (Optional Convertible Debentures), amounting to Rs 1440 crore, into 144 crore fully paid-up equity shares having a face value of Rs 10 per share. As per the filing, Vodafone Idea …
Tata Sons, the promoter of India’s largest software services exporter company Tata Consultancy Services (TCS), has proposed to sell 2.34 crore shares of TCS in block deals valued at approximately Rs 9,300 crore, at a rate of Rs 4,001 per share. The reported price represents a 3.6% discount to today’s closing price of Rs 4144.75 …
