Zomato will remain in focus on reports Alipay will sell 29.6 crore shares or 3.4 per cent of the total equity at ₹111.28 a share. Alipay, a digital platform of Ant Financial, looks to raise $395 million or ₹3,290 crore via the deal. 

 Aster DM Healthcare has received board approvals from its subsidiary Affinity Holdings Private Limited and approval from its Board of Directors to separate the India and GCC businesses into two distinct and standalone entities. Under the separation plan, Affinity has entered into a definitive agreement with a consortium of investors led by Fajr Capital, a sovereign-owned private equity firm headquartered in the UAE, to invest in Aster’s GCC business. The Fajr Capital - led consortium also includes Emirates Investment Authority, Al Dhow Holding Company (the investment arm of AlSayer Group), Hana Investment Company and Wafra International Investment Company. The board of Affinity and its representatives who negotiated the transaction formed a positive view of the favourable valuation and other terms offered by the Fajr Capital-led consortium.

Tata Power Renewable Energy Limited, a subsidiary of Tata Power has received a Letter of Award (LOA) for developing a 200 MW Firm and Dispatchable Renewable Energy (FDRE) project with SJVN Limited (SJVN). SJVN is an Indian public sector undertaking (PSU) involved in hydroelectric and renewable power generation and transmission and has been designated as the Renewable Energy Implementing Agency (REIA) by MNRE for achieving the nation’s target of achieving 500 GW by 2030.

Carbon black and speciality chemicals major PCBL Ltd (formerly Phillips Carbon Black Ltd) has announced plans to acquire 100 per cent in Aquapharm Chemicals Pvt Ltd (ACPL) for an aggregate consideration of Rs 3,800 crore. Subject to the agreed adjustment, the acquisition will be financed through a mix of internal accruals and external fundraising by the company and its associates, the company informed the bourses.

Bharat Heavy Electricals Limited and Electricité de France S.A., France (EDF), a French state-owned company and largest nuclear operator worldwide, have signed a Memorandum of Cooperation (MoC) to explore the opportunity to maximize the local content of the Jaitapur Nuclear Power Plant Project (6x1650 MWe) to be established by NPCIL in India.

The Ministry of Corporate Affairs has approved the Scheme of Amalgamation of Cellestial E-Mobility Private Limited and Cellestial E-Trac Private Limited with Tl Clean Mobility Private Limited, subsidiary of Tube Investments India.

The Reserve Bank of India has accorded approval to Canara Bank for divesting its shareholding (70 per cent) in its unlisted subsidiary Canbank Factors Ltd. Bank is exploring / evaluating the procedures with regard to same. Further to inform that Canara Bank is holding 69.14 per cent shares in its unlisted subsidiary, Canbank Computer Services Ltd (CCSL) and proposes to buy out shares of other shareholders i.e Bank of Baroda (BOB) and DBS Bank India Ltd (DBIL). Canara Bank is also exploring transferring the credit Card and other digital product portfolio of the Bank to CCSL.

Jio Finance, the lending arm of Jio Financial Services, has started its lending operations with three products--personal loans, consumer durable loans and merchant trade credit facility.

Havells India has Launched consumer durable brand “Lloyd” in West Asia market.

Related Topics