GMR Airports Infrastructure Limited’s step-down subsidiary - GMR Visakhapatnam International Airport Limited - that has the concession to build and operate the greenfield Bhogapuram International Airport, has executed financing agreement for an amount of ₹3,215 crore, with a consortium of five banks/financial institutions, lead by India Infrastructure Finance Company Limited (IIFCL), to part finance the Phase I development of Bhogapuram International Airport, which would cater to 6 million passengers annually. The debt will have a tenure of 18 years, comprising three years of construction phase, one year of stabilisation phase and 14 years of structured repayment.
The Chairman & Managing Director of Indian Renewable Energy Development Agency Limited has announced the launch of IREDA’s retail division. This strategic initiative is geared towards enhancing emphasis on providing loans to borrowers in the PM-KUSUM scheme, Rooftop Solar, and other Business-to-Consumer (B2C) sectors.
Adani portfolio of companies has announced that Bimal Dayal, Chief Executive Officer (CEO), Transmission business, and key managerial personnel of Adani Energy Solutions Limited, has been appointed as the CEO of Adani Infrastructure India Limited. He will oversee the implementation of the enormous pipeline of infrastructure projects in thermal, renewable energy and green hydrogen. The current management team of AESL, led by Anil Sardana, MD, and Kandarp Patel, who has been given charge of all verticals of AESL, will drive the growth of Transmission, Distribution and smart meter segments. This movement has been duly approved by the board of directors of AESL
Bank of India has raised₹4,500 crore through QIP issue. The issue, which was subscribed over 4 times included a base size of ₹2,250 crore and a green shoe option of ₹2,250 crore.
Tata Motors hasincreased the price of its commercial vehicles by 3 per cent from January 1, 2024
Subros has bagged a new order from Indian Railways for supply and commissioning of Coach Roof Mounted Air-Conditioners amounting to ₹25 crore in a recently concluded Tender. The company is already a supplier of Rail Driver Cabin Air Conditioning System to Indian Railways and the focus on Coach Air-conditioners is in line with its strategic direction to expand company’s business in Railway Electric Mobility Segment.
The Board of SP Apparels has approved: Purchase of the entire/partial shares of Young Brand Apparel Private Limited which is a subsidiary of Bannari Amman Spinning Mills Ltd; transfer of leasehold rights of a Garment Unit (Palladam Hi-Tech weaving park) including 100% of its assets, both movable and immovable vested with Bannari Amman Spinning Mills to the company; and transfer of leasehold rights of a extent of 6.43 acres of land with building situated at SIPCOT, Perundurai, vested with Bannari Amman Spinning Limited to the Company.
JSW Steel Ltd has announced that the Company is a member of the DJSI World Index and the DJSI Index for Emerging Markets. The company had participated in the 2023 S&P Global Corporate Sustainability Assessment (CSA) conducted to construct the Dow Jones Sustainability Index, and received a score of 99th percentile, moving to the top 2 position globally in the steel sector.
Oil and Natural Gas Corporation Limited (ONGC) has placed a Notification of Award of contract to Mazagon Dock Shipbuilders Limited for Part Replacement of Pipeline Project (PRPP) on turnkey basis at a total lump sum price of ₹1,145.10 crore including all taxes and duties.
REC Ltd has signed a 200 million Euro loan agreement with the German Bank KfW. This is REC’s sixth line of credit under Indo-German Development Cooperation, which REC will utilise to re-finance investments in the distribution infrastructure of DISCOMs in alignment with the Revamped Distribution Sector Scheme (RDSS) of the Government of India.
Greenlam South Limited, a wholly owned subsidiary of Greenlam Industries, has acquired land admeasuring 86 acres approx. in Sitapur District, Uttar Pradesh, for ₹24 crore approx, which will be used for future expansion.
Torrent Power has signed amendment agreement to Share Subscription and Shareholders Agreement (SSSA) with Automovive & TSU3PL. Agreement for offtaking additional 4 MWp Solar Power Electricity generated from TSU3PL.
Dr Reddy’s Laboratories has said that the United States Food & Drug Administration has completed a GMP and Pre-Approval Inspection (PAI) at its R&D centre Bachupally, Hyderabad. The company has been issued a Form 483 with three observations, which we will address within the stipulated timeline.
Max Healthcare Institute Ltd has announced the execution of binding Share Purchase Agreement (SPA) for acquisition Starlit Medical Centre Pvt. Ltd for an enterprise value of ₹940 crore through one of its wholly owned subsidiaries, Crosslay Remedies Ltd. Starlit had entered into a Business Transfer Agreement with Sahara India Medical Institute Ltd for purchase of Healthcare Undertaking consisting of 550 bedded Sahara Hospital, Lucknow, on a slump sale basis.
Vinati Organics Limited has announced that the commercial production of Ortho Secondary Butyl Phenol and Di-Secondary Butyl Phenol at its Lote facility. OSBP find application in agrochemicals, polystyrene, perfumery & liquid solvent dyes while DSBP is used for manufacturing surfactants for agrochemicals and for manufacturing specialty liquid dyes.
Lemon Tree Hotels announced its latest signing - Lemon Tree Hotel, Kundapura, Karnataka. The property is expected to open by FY27 and shall be managed by Carnation Hotels Private Limited, a wholly owned subsidiary and the management arm of Lemon Tree Hotels Ltd.
Ramco Cements, at its Kolimigundla Cement Plant, had undertaken de-bottlenecking of the Pyro Processing System. With this de-bottlenecking, the revised clinkerisation capacity is 3.15 tpa. The company has also obtained Consent to Operate from Andhra Pradesh Pollution Control Board. The existing capacity of 2.50 tpa is running at 100% capacity utilisation and the additional added capacity is 0.65 tpa, it said.
The board of TCML (formerly Travancore Chemicals & Mfg Ltd) has approved and authorised the Managing Director, Joseph Varghese to sign an MoU with Asset Homes TCM Townships Pvt Ltd for development of company’s land at Kalamassery, Ernakulam and accept Loan of ₹25 crore. He has also been autorised to create a Mortgage (until the Kalamassery land is made Charge free), in favor of Asset Homes TCM Townships Pvt Ltd, on Mettur, Tamil Nadu, (12.63 Acres of land) of the company, as a security for release of all charges on Kalamassery land (JDA property).
Bondada Engineering has received an authorisation for placement of work order from Bharat Sanchar Nigam Limited for ₹18.04 crore.
Parmax Pharma Limited has announced that there was a fire accident at Rajkot on December 6. The fire was successfully controlled immediately. However, the company is in the process of ascertaining the actual loss caused by the fire. The company is taking adequate steps to ensure re-functioning of the plant at the earliest.
TCPL Packaging Limited has further acquired 43,800 shares of its subsidiary, Creative Offset Printers Pvt Ltd from one of the promoters of COPPL at a consideration of ₹2.10 crore.
Mega Nirman & Industries Limited has participated in Uttrakhand Investor Summit 2023 as an investor where company has entered in Memorandum of Understanding (MOU) with Government of Uttarakhand for ethanol production.
RACL Geartech has received a nomination from an overseas customer in Germany for supply of gears for pedal assisted electric bicycles gear boxes. The subject technology is a patented project by its German customer. The company is also developing this project at its Noida unit, which will be its first export order. The project activities are under advanced stage of execution.
Imagicaaworld Entertainment Limited has signed a Memorandum of Understanding (MoU) with the Government of Uttarakhand to set up an entertainment park in Uttarakhand.
Ahasolar Technologies has received a Contract for Development and Maintenance of RE Portal for processing Applications of Solar, Wind and Hybrid and Integration with existing Solar Rooftop Portal from Gujarat Energy Development Agency, Gandhinagar. The whole Consultancy Service is priced at around ₹ 55 lakh.
The Board of Directors of Hypersoft Technologies has assented to invest the surplus funds up to ₹80 lakh in mutual funds.