The Securities and Exchange Board of India on Monday slapped a penalty of ₹8 lakh on Brightcom Group for failing to make timely disclosures to the stock exchanges. SEBI conducted an examination in the matter of Brightcom Group Ltd (BGL) for the alleged violation of LODR (Listing Obligations and Disclosure Requirements) rules. It initiated proceedings against BGL in the matter and issued show-cause notice on May 31, 2024. In its order, SEBI observed that Brightcom had not submitted its financial results for the quarters ending September 30, 2023, and December 31, 2023. In view of the same, it was alleged that the noticee (Brightcom Group) violated the provisions of disclosure rules.

Coal India on Monday said it has entered into a joint venture agreement with Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RRVUNL) to undertake renewable energy business in Rajasthan. While Coal India will have a 74 per cent shareholding in the joint venture, RRVUNL will have the remaining 26 per cent.

Punjab National Bank (PNB) has fixed a floor price of ₹109.16 per share for its share sale through qualified institutional placement (QIP). The bank had taken board approval last year for raising up to ₹7,500 crore via share sale in one or more tranches during 2024-25. The board approved and adopted the preliminary placement document together with the application form, PNB said in a regulatory filing.

Firstsource Solutions said its subsidiary, Firstsource Solutions UK Ltd, had acquired Ascensos, a leading UK-headquartered customer experience outsourcing partner for retail and e-commerce businesses for £42 million.

Power Grid Corporation of India has emerged as a successful bidder under tariff-based competitive bidding (TBCB) for a key inter-state transmission project. The project involves the installation of dynamic reactive systems at Khavda Pooling Station 1 (KPS1) and Khavda Pooling Station 3 (KPS3) in Gujarat, along with the extension of associated bays.

The board of Reliance Power Ltd on Monday approved raising ₹1,525 crore through a preferential issue where promoters will pour ₹600 crore into the company to advance its business. This comes days after Reliance Infrastructure, another Anil Ambani-led group firm, approved raising ₹6,000 crore. The board approved the issue of 46.20 crore equity shares at an issue price of ₹33 per share or warrants convertible into equity shares of the company.

Markets regulator SEBI on Monday imposed a penalty of ₹1 crore on Anmol Ambani, son of industrialist Anil Ambani, for his failure to exercise due diligence while approving general-purpose corporate loans in the Reliance Home Finance matter. Additionally, the regulator levied a fine of ₹15 lakh on Krishnan Gopalakrishnan, who was the Chief Risk Officer of Reliance Housing Finance. Both have been directed to pay the amount within 45 days, the Securities and Exchange Board of India (SEBI) said in its order.

Tata Power Delhi Distribution Ltd on Monday said it has received a patent for a self-regenerating transformer breather for 20 years. The ‘Self-Regenerating Breather’ is a device protecting a transformer from moisture ingress and thus, increases the longevity of electric transformers, the company said in a statement.

AstraZeneca Pharma India has received approval from the Central Drugs Standard Control Organisation (CDSCO) to import and distribute durvalumab (Imfinzi) for an additional indication in India.

Auto components maker Samvardhana Motherson International has raised ₹6,438 crore via issue of securities. The QIP issue garnered strong interest from both domestic and foreign institutional investors, leading to substantial demand over the issue size, it said in a regulatory filing.

BGR Energy Systems has received a notice of contract termination from the Chennai Metropolitan Water Supply and Sewage Board regarding the design, build, and operate (DBO) project for a 45 MLD capacity tertiary treatment reverse osmosis (TTRO) plant in Kodungaiyur.

PE firm Lighthouse Advisors has divested a 2 per cent stake in value retail chain V2 Retail for ₹85 crore via open market transaction, while Motilal Oswal Mutual Fund acquired shares of the company. The Mumbai-based Lighthouse Advisors through its affiliate India 2020 Fund II Ltd sold over 7.34 lakh shares, amounting to a 2.12 per cent stake in V2 Retail, as per the block deal data available on the NSE. The shares were offloaded at an average price of ₹1,160 apiece, taking the transaction value to ₹85.23 crore.

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