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: The country’s largest state-owned lender said its board has approved plans to raise Rs 10,000 crore through Tier I bonds. The raising of additional Tier 1 (AT1) capital of up to Rs 10,000 crore is subject to the approval of Government of India.
Wipro: Wipro announced the launch of a new financial services consultancy, Capco in the Middle East. Capco will offer strategic and technology management consulting capabilities to financial services companies in the Middle East to enable transformation initiatives, digitisation, and business initiatives.
Tata Motors: The domestic automaker said it has signed an agreement with Everest Fleet Pvt Ltd to supply 5,000 units of XPRES-T EVs. As part of the deal, the company has given 100 units to the Everest fleet in Mumbai.
: The State Executive Committee has approved a proposal to invest 330.61 billion rupees in transmission projects. It said that the decision in this matter was taken by the company’s committee on investment in the project.
IRCTC: The government will sell up to 5 percent stake in IRCTC through an offer for sale (OFS) at a floor price of Rs 680 per share to raise up to Rs 2,700 crore. The OFS includes a basic issue size of 2 crore shares or 2.5 per cent of the shares, with an option to retain oversubscription of 2.5 per cent, bringing the total issue size to 4 crore shares or 5 per cent.
PVR, INOX Leisure: Non-profit group CUTS has moved the NCLAT against the CCI order which rejected its complaint against the multiplex chain’s proposed merger. In its petition, the Consumer Unity and Trust Society (CUTS) also made PVR and other parties before the National Company Law appeal.
Poonawalla Fincorp: The non-banking arm of vaccine major Cyrus Poonawalla Group announced the sale of its housing subsidiary Poonawalla Housing Finance to private equity major TPG for Rs 3,900 crore. The transaction, subject to regulatory approval, is being carried out by TPG’s global arm Perseus SG.
: The drug players said that Gagandeep Singh Bedi has resigned as manager. The pharmaceutical company said it has approved the appointment of Sanjeev Panchal as its managing director for a period of three years with effect from January 1, 2023.
VRL Logistics: Promoter Vijay Basavanneppa Sankeshwar divested 5.4 per cent stake or 47.92 shares in the shipping company at an average price of Rs 570 apiece for a value of over Rs 273.14 crore through open market transactions, according to bulk deal data available on the NSE.
JB Chemicals & Pharmaceuticals: The pharmaceutical company said it had signed an agreement with
To buy franchise Razel (Rosuvastatin) for India and Nepal in Rs 314 crore. The transaction is expected to close within the next two weeks following customary closing procedures.
: The real estate company has acquired a prominent project in Benglauru and will invest up to Rs 125 crore for the development. The company said it has completed the ‘acquisition of ‘Golden Ira’, a development project of the Golden Gates Group which is an asset focused lending unit as part of the IIFL Group.
: The drug maker said it has signed an agreement with Boehringer Ingelheim India to jointly market diabetes drugs and compounded drugs in the country. The company signed an agreement to jointly sell Cospiaq (Empagliflozin), Cospiaq Met (Empagliflozin + Metformin) and Xilingio (Empagliflozin + Linagliptin).
: The construction and EPC company has executed a contract through its RBL-DBL JV with Gujarat Metro Rail for Rs 1,061 crore for the Surat Metro Rail Phase 1 project (Package CS 5). The length of the project is 10.6 kilometers and it will take 26 months to build.
: The hotel company will issue up to 58.96 million warrants, each convertible into one share within a period of eighteen months at a price of Rs. 97 each amounting to Rs 57.19 crore on a priority basis to the promoters and members of the promoter group.
Tea and Dunseri Industries: The beverage company has entered into an MOU to sell Khagorijan tea assets for Rs 15 crore under adjustment of current assets and current liabilities to Sahdev Singh Kushwah, Sanwar Mal More and Nikhil Agarwalla.
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