The National Stock Exchange and the BSE have put a freeze on equity shares held by promoter groups of Patanjali Foods Ltd (formerly known as Ruchi Soya Industries Ltd) for not meeting the public shareholding requirements within the stipulated deadline. The freezing will be applicable till compliance with minimum public shareholding requirements as per SEBI regulation. The 21 entities on whom the exchanges have put restrictions include Patanjali Ayurveda Ltd, Patanjali Parivahan Private Ltd, Patanjali Renewable Energy Private Ltd and Patanjali Agro India Private Ltd.
The Ministry of Environment, Forest and Climate Change, has granted the Environment Clearance to NACL Multichem Private Limited (a Wholly Owned Subsidiary of the NACL Industries) with respect to its proposed establishment of manufacturing facility at Ranastalam Mandal, Srikakulam District, Andhra Pradesh, for manufacturing of various Agrochemicals, Synthetic Organic chemicals and Fluorine based chemicals with a production capacity of 264.615 TPD and Co-Generation Power Plant (6MW).
Sundaram Clayton Ltd has said that CRISIL Ratings has assigned a CRISIL A1+ (pronounced as CRISIL A one plus rating) rating on the debt instrument ₹2,347 crore Cumulative Non-Convertible Redeemable Preference Shares. Instruments with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.
ITC Infotech India Limited, a wholly owned subsidiary of ITC Ltd, has incorporated a WOS in Germany ‘ITC Infotech GmbH’.
Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged, and machined products, in consortium with Titagarh Wagons Limited has been declared the Lowest Bidder (L1) by the Ministry of Railways for manufacturing and supplying of forged wheels under the ‘Atmanirbhar Bharat’ initiative. The Consortium will set up a modern manufacturing facility in India for forged wheel production and will supply approximately 1.6-million-wheel discs of different rolling stocks of Indian Railways over a period of 20 years at about 80,000 wheels per annum.
L&T Finance Limited (LTF), a subsidiary of L&T Finance Holdings Limited, has launched Warehouse Receipt Financing (WRF), a first of its kind digitally-assisted journey for loan facilities against agri-commodities. WRF facilitates the use of commodities as collateral to secure loans. Commodities are stored in professionally managed warehouses by empaneled collateral managers. Under this arrangement, commodities are checked for quality and quantity, based on which a receipt is issued by the collateral manager to farmers, traders and processors. The receipt can then be used as a collateral to avail loan facilities from LTF.
The Chhattisgarh Environment Conservation Board, Raipur, has granted to Sarda Energy & Minerals Ltd, the Consent to Operate under Water (Prevention and Control of Pollution) Act, 1974 and Air (Prevention and Control of Pollution) Act, 1981, for expansion in existing Rolling Mill from 1,80,000 tonnes per annum to 2,50,000 tonnes per annum.
Jaypee Healthcare Limited a wholly owned subsidiary of Jaypee Infratech Ltd, had taken financial facilities from YES Bank Limited and/or consortium of lenders. For the purpose, the Company had pledged 63.65 per cent equity shares in JHL as security to the lenders. The consortium of lenders and/or YES Bank Limited had assigned these debts/loans to the benefit of JC Flowers Asset Reconstruction Private Limited.
Sunflag Iron and Steel Company has entered into long term power delivery agreements (PDA) with the 3 solar power producer companies. The company also executed share subscription and shareholders’ agreements with Renew Green Energy Solutions (promoter) and those 3 solar power producer companies for developing and operating renewable energy projects and deliver the power generated from its 71.34 MW solar photovoltaic projects to the company for 15 years extendable upto 25 years.
Mindspace Business Parks REIT has completed the first REIT level green bond issuance in India. Mindspace REIT has raised ₹550 crore with a tenor of three years and thirty days at a fixed quarterly coupon of 8.02 per cent per annum payable quarterly. The issuance is rated AAA/Stable each by CRISIL Ratings and ICRA.
The board of Directors of Federal Bank will meet on March 18 to consider the proposal to raise funds by way of issue of unsecured Basel III Tier-II subordinate bonds in the nature of debentures, amounting to ₹1,000 crore on a private placement basis.
BLS E-Services Private Limited, a Subsidiary of BLS International Services Limited, has acquired additional equity shares of Zero Mass Private Limited from the existing shareholder of ZMPL by means of Share Transfer Agreement. Post this acquisition, BLS E-Services is holding 90.942 per cent of the paid-up equity share capital of ZMPL.
Nibe Limited has received Four Purchase Order from Larsen & Toubro Limited for Manufacturing of Bridge Center Module Structure and Other Assemblies and Sub-Assemblies of Modular Bridge Project amounting to ₹57.33 crore.
East West Holdings Limited (through Wholly owned Subsidiary (WOS) East West Freight Carriers Limited) have secured a contract for 1 year from The Indian Institute of Petroleum, Dehradun, which is one of the 37 constituent laboratories of the Council of Scientific and Industrial Research, dedicated to R&D in the hydrocarbon sector. Under this contract, the Company will provide Customs Clearance Services to IIP-Dehradun.This one year contract is expected to generate ₹1.5 crore revenue to the Company