Ambuja Cements has announced the acquisition of Penna Cement Industries Ltd (PCIL) at an enterprise value of ₹10,422 crore. A binding agreement for the acquisition has been signed, which will add 14 MTPA capacity to Adani group, taking the total tally to 89 MTPA (million tonnes per annum). The Adani group company said that it will acquire 100 per cent shares of PCIL from its existing promoter group P Pratap Reddy and family.

Suven Pharmaceuticals on Thursday said it will acquire 67.5 per cent stake in Hyderabad-based Sapala Organics for ₹229.5 crore. The company, which is one of the country’s largest integrated contract development and manufacturing organisation players, has entered into a definitive agreement for investment in Sapala Organics, it said in a regulatory filing. The company expects to complete the acquisition of the remaining equity stake after FY2026-27. Sapala has a presence in the fast-growing, Oligo and nucleic acid building blocks segment.

Havells India Limited is planning to expand its existing manufacturing capacities of Air Conditioners at Ghiloth and Sricity locations to 15 lakh units per annum at each location, from the existing 9 lakh and 11.2 lakh units, respectively, in order to cater to the increased demand. The total proposed investment for the above capacity enhancements will be in the range of ₹50-60 crore. The same will be funded through internal accruals and the expected date of completion is Q4 FY 2025.

Wipro has announced a strategic collaboration with Siemens to transform automotive software development through the integration of the PAVE360 software and digital twin technologies from Siemens with Wipro’s automotive engineering and digital transformation capabilities. Wipro has also announced a strategic collaboration with Hewlett Packard Enterprise to launch a GenAI solution within the new Customer Experience Center (CEC) at the Wipro Cloud Studio’s Kodathi office to serve customers globally. The solution will leverage Wipro’s Smart Operations platform and HPE Machine Learning Development Environment to enhance operational efficiency and customer experience.

The board of Puravankara has given its in‐principle approval to proceed to raise funds through QIP mode up to an amount not exceeding ₹1,000 crore in one or more tranches. The Instruments to be issued under QIP may be equity shares /debentures (NCD/PCD/FCD)/preference shares as per the terms of issue, once finalised and approved by the Board. Besides, its board has also approved providing of a corporate guarantee in favour of Piramal Enterprises for a rupee term loan facility of ₹90 crore to be obtained by Provident Housing Ltd, wholly owned subsidiary.

Sternal Buildcon Private Limited, a wholly owned subsidiary of Signatureglobal (India) Ltd has executed a sale deed to purchase the land admeasuring approximately 3.80625 acres situated at Sector 37D, on Dwarka Expressway, Village Harsaru Gurugram. The said land has an overall potential developable area of approximate 6 lacs square feet.

Electrosteel Castings’ board, which had approved a proposal for setting up a ductile iron pipes & fittings plant in Odisha and for the purpose to acquire approx. 500 acre, has signed Term Sheet with Saffron Resources Private Ltd for acquisition of land parcel. 

Cupid Ltd has received an initial order from Cipla Health to manufacture a range of male condoms under the Cipla brand. Following this initial rollout, Cipla Health has committed to placing regular, sizeable orders for male condoms with Cupid in the coming quarters.

Suzlon Energy has appointed Khaitan & Co., an eminent law firm in India, to conduct a review of its corporate governance practices. The moves comes as one of Suzlon’s independent director, Marc Desaedeeler, recently quit, citing corporate governance issues.

The board of Butterfly Gandhimathi appliances took on record the resignation of Rangarajan Sriram as the Managing Director, and as a Key Managerial Personnel of the Company, effective from the close of business hours of June 14 to pursue career options outside the organisation. Based on recommendation of nomination & remuneration committee, the board has approved the appointment of Swetha Sagar G, Chief Business Officer as Manager & Chief Business Officer from June 15 for a period of 5 years.

 Zaggle Prepaid Ocean Services has entered into an agreement with Skydo Technologies Private Ltd to offer cross border payments capability to Zaggle corporate customers.

Advait Infratech has received an orders for Uprating of existing 66kv lines on tower by high ampacity conductor/HTLS conductor 45.872 RKM worth ₹27.87 crore and Uprating of existing 66kv lines on tower by high ampacity conductor/HTLS conductor 27.516 RKM from Gujarat Energy Transmission Corporation Ltd.

Asian Energy Services Ltd has received LOA from Sun Petrochemicals Private Ltd for 3D Seismic Data Acquisition and Processing Services for Sunpetro’s fields/blocks in Gujarat. The value of LOA is ₹37.71 crore excluding GST. The Work under this LOA will be executed in six months.

The board of Nitco Ltd has approved a proposal to monetise Company’s immovable property situated at Kanjurmarg, Mumbai, and enter into conveyance deed or agreement with Runwal Construction Private Ltd.

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