The Executive Committee of the Central Board of State Bank of India has approved long-term fund raising in single and multiple tranches up to $2 billion through a public offer or private placement of senior unsecured notes in the US dollar or any other convertible currency during FY24.

The board of directors of Bank of India has approved the raising of capital up to Rs 6,500 crore for FY24, comprising Rs 4,500 crore via the issue of fresh equity capital in the form of FPO/ QIP/ rights issue/ preferential issue and/ or Basel III compliant additional Tier-1 (AT-1) bonds, and Rs 2,000 crore via Basel III compliant Tier-2 bonds.

eClerx Ltd, a wholly-owned subsidiary of eClerx Services Ltd incorporated in the UK, has appointed Kapil Jain as CEO with effect from May 1, 2023. In his new role, Kapil will focus on driving growth, improving operational management, and investing in further capability development. Kapil has spent the past two decades at Infosys, serving most recently as Executive Vice President - Global Head of Sales & Enterprise Capability for the BPM business.

Som Distilleries and Breweries Ltd’s wholly-owned subsidiary, Woodpecker Distilleries and Breweries Pvt Ltd, has commenced commercial production of expanded capacity at Hassan, Karnataka. This will lead to better supply of the company’s products across distribution points in the relevant markets. This will also enable the company to take advantage of the peak consumption season of beer.

Piramal Pharma Ltd has announced that the US FDA has issued an Establishment Inspection Report (EIR) for its manufacturing facility located at Sellersville, US, and the inspection has now been successfully closed by the US FDA.

Prestige Estates Projects Ltd through its wholly-owned subsidiary Prestige Exora Business Parks Ltd has acquired 51 per cent shares in Dashanya Tech Parkz Pvt Ltd, which is engaged in the business of development and construction of commercial office space.

Zydus Lifesciences Ltd (including its subsidiaries/affiliates has received final approval from the United States Food and Drug Administration to manufacture and market Estradiol Transdermal System USP, which is indicated for prevention of postmenopausal osteoporosis. The drug will be manufactured at the group’s formulation manufacturing facility in Moraiya, Ahmedabad (India).

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Pidilite Industries has entered into an agreement with US-based Basic Adhesives LLC for the purchase of certain assets comprising technology, design, trademark, copyright, domain name and trade dress. The company will pay the consideration in tranches over a period of time.

RattanIndia Enterprises Ltd. has announced the launch of a direct-to-consumer apparel fashion brands business in its 100 per cent wholly-owned subsidiary Neobrands Ltd, which will be a house of brands across multiple fashion categories, including everyday fashion, denims, athleisure and performance wear categories.

Results Calendar: Alok Industries, Artson Engineering, Benares Hotels, Citadel Realty and Developers, G G Engineering, Gujarat Hotels, ICICI Securities, Mastek, Stampede Capital and Tata Communications.

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