The Government of India has approved the dilution of up to 7% shareholding in Indian Renewable Energy Development Agency (IREDA) through the Qualified Institutions Placement (QIP) route, in one or more tranches.

Mahanagar Telephone Nigam Ltd (MTNL) on Wednesday said its loan account with Punjab National Bank (PNB) has been downgraded to a Non-Performing Asset (NPA) this month over non-payment of interest and instalment. In a disclosure to the stock exchanges, MTNL said that PNB informed it about outstanding amount adds up to about Rs 441 crore while the overdue amount is over Rs 46 crore.

Grid Equipments & GE Grid Alliance BV, promoters of GE T&D , will be selling up to 11.7% equity stake in the company via an offer-for-sale (OFS), with an option to sell up to additional 3.9% stake. The floor price has been fixed at Rs 1,400 per share. The OFS will open for non-retail investors on September 19 and for retail investors on September 20.

NTPC Green Energy, the renewable energy arm of NTPC, on Wednesday filed preliminary papers with capital markets regulator SEBI to raise Rs 10,000 crore through an initial public offering (IPO). The initial share-sale is entirely a fresh issuance of equity shares with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP).The renewable energy firm said proceeds of the issue to the tune of Rs 7,500 crore will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd’s (NREL) outstanding loans, while a portion will be utilised for general corporate purposes.

Zomato on Wednesday said it has received a GST demand order along with interest and penalty amounting to Rs 17.7 crore from the Assistant Commissioner of Revenue, West Bengal. The demand order, received by the company on Tuesday, is with respect to non- payment of GST on delivery charges and interest, penalty thereon.

Macrotech Developers has executed Securities Purchase Agreements (SPAs) with Ivanhoe Warehousing India Inc for the acquisition of its shareholding in the Digital Infrastructure Platform entities—Bellissimo Digital Infrastructure Development Management, Palava Induslogic 4, and Bellissimo In City FC Mumbai 1—for Rs 239.56 crore. Post-acquisition, the company’s stake in these entities would increase to 70%, 66.67%, and 66.67%, respectively.

Gaming and sports media company Nazara Technologies on Wednesday said its board has approved a preferential equity issue to raise Rs 900 crore. Nazara also announced increasing its stake in Absolute Sports to 91 per cent. The fresh capital will fuel the firm’s strategic acquisitions and business expansion, and provide newer growth opportunities, a company statement said.

Promoter entity Everstone Capital on Wednesday sold a 2.16 per cent stake in Restaurant Brands Asia for Rs 113 crore through an open market transaction while Mirae Asset Mutual Fund picked up a stake in the company. Restaurant Brands Asia, formerly known as Burger King India Ltd, is a part of US-based Restaurant Brands International Inc. It owns four of the world’s most prominent and iconic QSR brands - Tim Hortons, Burger King, Popeyes and Firehouse Subs. According to the block deal data available on the NSE, Singapore-based private equity firm Everstone Capital via its investment vehicle QSR Asia Pte sold more than 1.07 crore shares, amounting to a 2.16 per cent stake in Restaurant Brands Asia (RBA).

SpiceJet has received a good response for its Rs 3,000 crore-worth sale of shares to qualified institutional buyers, according to media buzz.  Some of the investors include family offices of Madhu Kela, Akash Bhanshali, Sanjay Dangi and Rohit Kothari.

Ion Exchange (India) has secured contracts worth Rs 161.19 crore from Adani Power to provide comprehensive total water and environmental management solutions for the process and utility needs of 2 x 800 MW units at the Raipur & Raigarh Ultra Super Power Projects. The projects are expected to be completed within 18 months from the award date.

The board of Reliance Power will meet on September 23 to consider the raising of long-term resources from domestic and/or global markets via the issue of equity shares and/or foreign currency convertible bonds.

Aditya Birla Capital has informed the exchanges that it has received a ‘no objection’ letter from the Reserve Bank of India (RBI) for the merger of Aditya Birla Finance with itself.

Pudumjee Paper Products has won a contract for a 15.4 MW solar power project to Prozeal Green Energy.

BL Kashyap and Sons has received a new order worth Rs 221 crore from SSS Realty. With this, the total order book stands at Rs 3,546 crore as on date, the company said in a notice to the exchange.

Garden Reach Shipbuilders & Engineers has received a contract from Carsten Rehder Schiffsmakler and Reederei GmbH & Co, KG Germany, to deliver an additional four multi-purpose vessels. The order is valued at an additional $54 million, bringing the total value for eight vessels to $108 million.

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