State Bank of India has raised ₹3,717 crore through its third Basel III compliant Additional Tier 1 bond issuance in the current financial year on Wednesday at a coupon rate of 8.25 per cent. The proceeds of bonds will be utilised in augmenting Additional Tier 1 Capital and the overall capital base of the Bank and for strengthening capital adequacy in accordance with RBI Guidelines. The tenor of these bonds is perpetual with a call option after 10 years and every anniversary thereafter. The issue attracted an overwhelming response from investors with bids of ₹4,537 crore and was oversubscribed by about 2.27 times against the base issue of ₹2,000 crore. The total number of bids was 53 indicating wider participation. The investors were across provident and pension funds and insurance companies.

Bharat Forge Limited through its e-mobility subsidiary, Kalyani Powertrain Limited, inaugurated its first e-bike manufacturing facility at MIDC Chakan. The facility has a production capacity of 60,000 units per annum and is scalable to 100,000 units per annum, will undertake the assembly of e-bikes for Tork Motors Private Limited, 64.29 per cent owned by Kalyani Powertrain Limited.

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Vaibhav Global’s German subsidiary, Shop LC GMBH, further expanded its presence in Germany by partnering with Vodafone Germany on its nationwide cable network. With this arrangement, Shop LC added about 13 million additional households in Germany. Launched in July-2021, Shop LC was airing across cable and satellite TV networks and serving about 25 million households in Germany and additional 2 million households in Austria. With this move, Shop LC’s teleshopping network will now be present in about 90 per cent of total households in Germany.

Jubilant Pharmova Limited has announced that pursuant to the US FDA inspection of its API manufacturing facility at Nanjangud during 05-13 December 2022, it received a communication from the US FDA through which the regulatory agency assigned the inspection classification of the API facility as “Voluntary Action Indicated.” Based on this inspection and the US FDA VAI classification, this facility is in compliance with regard to current good manufacturing practices (cGMP).

Caplin Steriles Limited (Caplin), a subsidiary of Caplin Point Laboratories., has been granted final approval from the USFDA for its Abbreviated New Drug Application (ANDA) Thiamine Hydrochloride Injection USP, 200 mg/2 mL (100 mg/mL) Multi-dose Vial, a generic therapeutic equivalent version of (RLD), Thiamine Hydrochloride injection of Fresenius Kabi USA LLC.

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Promoters of Kirloskar Oil Engines offloaded 17.71 per cent stake in the engineering, power generation, and solutions company through open market transactions, at an average price of ₹322 a share, amounting to ₹636 crore. According to bulk deal data, 10 investors bought majortity of the stock.

Ramkrishna Forgings has incorporated a wholly-owned subsidiary, RKFL Engineering Industry, to implement the resolution plan under Corporate Insolvency Resolution Process (CIRP) for the acquisition of JMT Auto. RKFL Engineering is going to engage in the business of forging, pressing, stamping, and roll forming of metal and powder metallurgy.

Alembic Pharma has announced that it has received final approval from the US FDA for its abbreviated new drug application (ANDA) Prazosin Hydrochloride Capsules.

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