The board of directors of Zomato has approved the grant of loan up to $150 million to Grofers India Private Limited in one or more tranches and delegated the authority to the senior management of the company to decide the key terms of the loan and execute the definitive documents at a future date. The interest rate for the loan will be 12 per cent p.a. or higher with a tenor of not more than 1 year. This loan will support the capital requirements of GIPL in the near term and is in line with company's stated intent of investing up to $400 million in quick commerce in India over the next 2 years. The board has also approved the acquisition of Mukunda Foods Private Limited by way of subscription of 13,289 Series B1 compulsorily convertible preference shares and 10 equity shares collectively aggregating to 16.66 per cent of the share capital on a fully diluted basis, for $5 million. Mukunda is a food robotics company that designs and manufactures smart robotic equipment to automate food preparation for restaurants.

One 97 Communications (Paytm) has informed the exchanges that Munish Ravinder Varma has resigned as non-executive, non-independent director of the company due to personal commitments and other pre-occupations

ITC has acquired the second tranche, 1,040 compulsorily convertible preference shares of of Mother Sparsh Baby Care Private Limited (Mother Sparsh). With this acquisition, ITC's shareholding in Mother Sparsh aggregates 16 per cent of its share capital on a fully diluted basis.

Out of a total of 92 auto component manufacturers that applied, 75 have been approved for incentives under the production-linked incentive (PLI) scheme for five years. Listed companies under the Component Champion Incentive Scheme include Bharat Forge, Bosch, Ceat, Minda Corporation, Minda Industries, Motherson Sumi Systems, Motherson Sumi Wiring, Tube Investments Of India, Wabco India, Alicon Castalloy, Asahi India Glass, Automotive Axles, Lumax Auto Technologies, Pricol , Sandhar Technologies, Sansera Engineering, Schaeffler India, Sharda Motor, Sona BLW, Steel Strips Wheels, Sundram Fasteners, The Hi-Tech Gears and Varroc Engineering.

A meeting of the board of directors of SEAMEC Limited will be held on March 28 to consider and evaluate draft scheme of arrangement of merger/demerger /reverse merger/restructuring arrangement between the company and HAL Offshore Limited (HAL). HAL is the unlisted holding company of SEAMEC Limited.

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The board of directors of Timex Group India Limited has approved the changes in board. Due to personal reasons, Sharmila Sahai has decided to move on and has resigned from her position of Managing Director as well as Director of the company with effect from close of business hours of March 27. She will, however, continue to work with the company till June 30 for smooth handover and transition of work. Based on the recommendation of nomination and remuneration xommittee, the board of has appointed Deepak Chhabra as Additional Director till the next general meeting of the company, and managing director of the company for a period of 3 years.

IL&FS Transportation Networks Limited has entered into a share purchase agreement with Axis Trustee Services Limited (as the trustee of Roadstar Infra Investment Trust and others) to sell and transfer 12,40,50,000 equity shares representing 100 per cent of its paid-up capital of Sikar Bikaner Highways Limited, a wholly owned subsidiary of the company, for a consideration of ₹375.50 crore be received in the form of units of the Trust. In addition, the company has also assigned its debts owed to Sikar Bikaner Highways Limited of ₹207.81 crore by executing a Deed of Assignment with Axis Trustee Services Limited against which a consideration to the equivalent amount is to be received in the form of units of the Trust.

EKI Energy Services is in advanced discussions with some European oil and gas majors to launch an initiative to supply free improved cook stoves to rural households to reduce carbon footprint and generate carbon offsets.

The board of Modulex Construction Technologies has approved raising ₹41 crore through rights issue, as on the record date (to be notified subsequently), subject to the receipt of applicable regulatory and statutory approvals. The board has also approved an increase in the authorised share capital of the company from ₹73 crore to ₹93 crore.

Solitaire Machine Tools Ltd has received an export order worth ₹4.6 crore. The company has received an in-principle approval for a loan of ₹7.5 crore from YES Bank Ltd for construction of third plant at GIDC, Halol Masvad Estate.

The board of MSR India Limited has considered and approved the enter into agreement with JIO online Platform for Listing of products of the company.