TVS Motor Company has said its Singapore-based arm has increased stake in the Germany-based electric mobility products and components start-up Killwatt GmbH to 49 per cent with the acquisition of an additional 8,000 equity shares for 4 million euros (over ₹35 crore). TVS Motor (Singapore) Pte Ltd has agreed to acquire a further 8,000 equity shares in Killwatt GmbH following which its shareholding will increase from 39.28 per cent to 49 per cent by way of newly issued shares of the latter, TVS Motor Co said in a regulatory filing.
Drug major Cipla on Monday said it has received approval from the Central Drugs Standard Control Organisation (CDSCO) to market the novel antibiotic plazomicin in India. Plazomicin is a new intravenous (IV) aminoglycoside indicated for the treatment of Complicated Urinary Tract Infections (CUTI), including pyelonephritis.
IT services firm Wipro on Monday said it has partnered with Finnish telecom and IT company Nokia to deliver private wireless solutions to enterprises. Through this solution, enterprises will be able to create an integrated private environment that they can control to better manage their performance and mitigate security risks, a statement said. Wipro said the joint private wireless solution with Nokia will “help enterprises scale their digital transformation”.
Vijay Shekhar Sharma has resigned from the board of Paytm Payments Bank to enable the reconstitution of the board, One97 Communications informed the bourses and added, “PPBL has informed us that they will commence the process of appointing a new chairman”. A press release by One97 Communications Ltd said former Central Bank of India Chairman Srinivasan Sridhar, retired IAS officer Debendranath Sarangi, former Executive Director of Bank of Baroda Ashok Kumar Garg, and retired IAS Rajni Sekhri Sibal have joined the PPBL Board. They have joined as independent directors.
The board of Union Bank of India has approved the allotment of 22,11,57,390 equity shares of face value ₹10 each to eligible qualified institutional buyers at the issue price of ₹135.65 a share against the floor price of ₹142.78, aggregating to ₹3,000 crore. The issue was opened on February 20 and closed on February 23.’
Aegon Life, a digital life insurance company, today announced the transfer of the shareholdings of Aegon India Holding B.V and Bennett, Coleman & Company Ltd to Bandhan Financial Holdings Ltd. With this, Bandhan Financial Holdings is now a promoter of Aegon Life Insurance. The transition to Bandhan Financial Holdings marks a significant milestone for Aegon Life Insurance Company.
Sagar Cements, promoter of Andhra Cement, proposes to sell up to 46.08 lakh shares of the company (representing up to 5 per cent of the total paid-up equity capital) on February 27 (for non-retail investors) and on February 28, (for retail investors) through the Offer for Sale window. The floor price of the offer will be ₹90 a share