Technology consulting and digital solutions company LTIMindtree on Wednesday said it has signed an initial pact with Greek insurance company Eurolife FFH to establish a Gen Al and Digital Hub in Athens and dedicated facilities in Poland, Europe and India. LTIMindtree and Eurolife FFH signed a memorandum of understanding (MoU) to this effect.
The board of South Indian Bank has approved rights issue. Total number of Rights Equity Shares and Rights Issue size: 5,231,85,254 shares for an amount aggregating up to ₹1,151.01 crore; price: ₹22 a share; entitlement ratio: one share for every 4 held as on the record date (February 27)
Private equity advisory firm Lighthouse Advisors India on Wednesday sold shares of medical consumables company Poly Medicure for ₹200 crore through an open market transaction. Mumbai-based Lighthouse Advisors India through its affiliate Lighthouse India III Equity Investors Ltd offloaded the shares on BSE. According to the bulk deal data available with the BSE, Lighthouse India III Equity Investors disposed of 12,90,939 shares, amounting to a 1.3 per cent stake in Poly Medicure.
Kilburn Engineering Ltd has acquired ME Energy Private Ltd, a leading entity in waste heat recovery and reutilisation systems, for an aggregate consideration of ₹98.70 crore. The company said the acquisition was a strategic move to become a comprehensive solution provider in the thermal engineering space.
Club Mahindra, the flagship brand of Mahindra Holidays and Resorts India Ltd, has expanded its footprint in Turkey by partnering with an exquisite resort in Istanbul- the melting pot of rich culture and history. With this partnership, Club Mahindra members will now have access to the charming and elegantly styled resort in Turkey - The Marmara Şişli. This strategic partnership underscores Club Mahindra’s dedication to offering memorable and enhanced holiday experiences to its valued member base.
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PVP Ventures has executed a Joint Development Agreement (JDA) with Brigade Enterprises for a residential project in the heart of Chennai. With this, PVP has fast-tracked the monetisation of its priced land asset in the Chennai region. This development is expected to be amongst the largest residential projects in central Chennai. The project will encompass over 2.5 million square feet of residential inventory reflecting Brigade’s design excellence and construction standards.
Moody’s has affirmed Axis Bank’s deposit ratings with a stable outlook saying India’s favourable operating environment offers the bank an opportunity to further strengthen its market position. The bank’s diversified loan portfolio and above-industry average profitability will support internal capital generation and its strong solvency. In addition, Axis’ strong retail franchise, access to low-cost deposits and sufficient holdings of liquid government securities will support its funding and liquidity, it said, Moody’s expects the bank’s asset quality to remain broadly stable as India’s economic momentum continues to be robust. Indian corporates’ improving profitability and deleveraged balance sheets are supporting stable asset quality.
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Kridhan Infra said that its Union Bank of India has issued a sanction advice dated February 20, 2024, for one time settlement (OTS) of all its outstanding towards the company. The company will make adequate steps as per the terms and conditions mentioned in the sanction letter for OTS.
Apollo Micro Systems Ltd has received sanction for a term loan of ₹110 crore from State Bank of India for the implementation of its upcoming project in Hardware Park, Hyderabad. In addition to the term loan, SBI has also sanctioned the renewal and enhancement of the following credit facilities for a twelve-month period, up to February 8, 2025. The Cash Credit (CC) limit has been renewed and enhanced from an existing limit of ₹52.50 crore to ₹57.50 crore; the Inland Bank Guarantee (IBG) limit has been renewed and enhanced from an existing limit of ₹40 crore to ₹50 crore. The Inland Letter of Credit (ILC) limit has been renewed for ₹35 crore.