Zomato

The food delivery giant has received approval from its shareholders to raise up to Rs 8,500 crore via Qualified Institutions Placement (QIP). Meanwhile, Zomato will replace JSW Steel in the BSE Sensex, effective from December 23.

Aurobindo Pharma

The company’s US subsidiary, Aurobindo Pharma USA Inc, has entered into a Collaboration and License Agreement with a global pharma major for the development of specific products in the respiratory therapeutic area and their commercialization.

Escorts Kubota

The company’s subsidiary, Escorts Kubota Finance, intends to commence its business activities as a non-banking financial institution, without accepting public deposits, starting November 26.

HG Infra Engineering

The company has received a letter of award from NTPC Vidyut Vyapar Nigam for setting up a 500 MW/1000 MWh standalone battery energy storage system in India, with viability gap funding support. The tariff rate has been fixed at Rs 2,38,000 per MW per month.

CESC

The company’s subsidiary, Eminent Electricity Distribution, has received a ‘Letter of Intent’ for the acquisition of 100% shares in an electricity distribution company with a distribution license in Chandigarh, for Rs 871 crore.

BSE

SEBI has granted approval for the appointment of Subhasis Chaudhuri as Chairman of the governing board, effective November 21.

Mahindra Lifespace Developers

Mahindra Group, through its subsidiary Mahindra World City Developers, has announced the second phase of its industrial parks project in Tamil Nadu under the brand ‘Origins by Mahindra’, in partnership with Sumitomo Corporation, Japan. Mahindra World City Developers and Sumitomo Corporation will invest Rs 225 crore in Mahindra Industrial Park Chennai (MIPCL), in proportion to their existing shareholding.

Cochin Shipyard

The company has entered into a Memorandum of Understanding (MOU) with Seatrium Letourneau USA, Inc. for the design and supply of critical equipment for jack-up rigs for the Indian market. This partnership aims to capitalize on opportunities for mobile offshore drilling units (MODUs) designed to meet the needs of the Indian market.

Protean eGov Technologies

NSE Investments has decided to exercise the green shoe option of 10.16% equity in the offer-for-sale on November 25. It had previously decided to sell up to 20.31% stake in Protean via offer for sale from November 22-25, including a base issue of 10.16% equity and a green shoe option of 10.16% equity.

VST Industries

The company has sold its immovable property and a 2.7-acre plot of land, along with structures, at Banjara Hills, Hyderabad, to ViNS Bioproducts for Rs 101.7 crore.

Rail Vikas Nigam

The joint venture RVNL-SCPL has received a Letter of Acceptance from Eastern Railway for a project worth Rs 837.67 crore. The project involves earthwork in cutting and filling, blanketing, construction of minor and major bridges, RUB, ROB, retaining wall, level crossing, side drain, catch water drain, P.way work, and other ancillary works related to the construction of a multi-tracking railway BG line.

Jyoti Structures

The company has received board approval for fund-raising of up to Rs 500 crore via a rights issue.

Mahanagar Telephone Nigam

Due to insufficient funds, MTNL could not fund the ESCROW account with the adequate amount. As per the Structured Payment Mechanism of the Tri-Partite Agreement (TPA) signed among MTNL, the Department of Telecommunications, Ministry of Communications, Government of India, and Beacon Trusteeship, MTNL is required to fund the semi-annual interest into the ESCROW account with the adequate amount 10 days before the due date (December 1, 2024).

Central Bank of India

The Reserve Bank of India (RBI) has approved the Central Bank of India’s entry into the insurance business through a joint venture with the Generali group under FGIICL and FGILICL, subject to approval from IRDAI.

Akzo Nobel India

The board has approved the monetization of the company’s immovable property/ies via sale, which are either of limited use or non-productive for business operations.

Prakash Industries

The company has received a mining lease for the mining of coal over 30 years for its Bhaskarpara commercial coal mine from the Chhattisgarh government. The company will begin overburden removal by next month, and coal extraction is expected to commence in the next quarter.

RITES

The company has received revised estimates of Rs 531.77 crore (up from Rs 288.44 crore earlier) for the railway electrification work of the LMG-BPB section of the Lumding division, from the Northeast Frontier.

Sterlite Technologies

Rahul Puri has been appointed as the Chief Executive Officer (CEO) for the optical networking business of the company. He will report to Ankit Agarwal, Managing Director of the company. At the time of his appointment, Rahul Puri was the Business Head for EMEIA & APAC at the company.

Jagsonpal Pharmaceuticals

Ashish Lakhotia has resigned as Chief Financial Officer of the company to pursue opportunities outside the company, effective January 22.

India Grid Trust

The company’s subsidiary, IndiGrid 2, has received the Letter of Intent/Letter of Award from NTPC Vidyut Vyapar Nigam for the setting up of a 250 MW/500 MWh standalone battery energy storage system in Rajasthan for “on-demand” usage.

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