Godrej Properties

The Mumbai-based real estate developer closed its Qualified Institutional Placement (QIP) issue on December 2, raising Rs 6,000 crore. It has fixed the issue price at Rs 2,595 per share, which represents a 4.86% discount to the floor price of Rs 2,727.44 per share. The company has approved the allocation of 2.31 crore equity shares to eligible Qualified Institutional Buyers (QIBs).

Torrent Power

The power company opened its QIP issue on December 2. The floor price has been set at Rs 1,555.75 per share. According to CNBC-TV18 sources, the company is likely to sell 4.6% equity via the QIP, with an indicative issue size of Rs 3,500 crore.

KPI Green Energy

The KP Group company has received its largest-ever order, worth Rs 1,311 crore, for the setup of a 300 MWAC (405 MWDC) ground-mounted solar PV plant, including operation and maintenance (O&M) services for 5 years from Coal India.

Solar Industries India

The company and its subsidiary have received export orders worth Rs 2,039 crore for the supply of defense products, to be delivered over the next 4 years.

HCL Technologies

The technology company has completed the acquisition of assets from Hewlett Packard Enterprise’s Communication Technology Group, effective December 1.

MOIL

The PSU company reported production of 1.63 lakh tonnes of manganese ore in November, its best November performance since inception. Sales grew by 32% YoY to 1.33 lakh tonnes in November.

LKP Finance

Hindon Mercantile and Kapil Garg have agreed to acquire 71.32% of LKP Finance shares. The company has not yet received approval from the Reserve Bank of India, which is a statutory requirement for this offer.

Godavari Biorefineries

The renewable chemicals and biofuels company has signed a strategic international license agreement with Catalyxx Inc. This partnership gives Godavari Biorefineries exclusive rights to leverage Catalyxx’s technology for converting ethanol into up to 30,000 tons of biobutanol and other higher alcohols in India, with plans to sell globally. In the first phase, the company will construct and operate 15,000 metric tons of biobutanol and higher alcohols annually.

Bharat Petroleum Corporation

BPCL and Coal India have executed a non-binding Memorandum of Understanding (MoU) for the setting up of a coal-to-synthetic natural gas project at Western Coalfields through surface coal gasification.

Protean eGov Technologies

The company has received a work order worth Rs 161 crore from the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI). Protean will provide services as the system integrator for the design, development, implementation, and operations & maintenance of the Central KYC Records Registry (CKYCRR 2.0).

Pricol

The company, through its subsidiary Pricol Precision Products, will acquire the injection molding business of Sundaram Auto Components (SACL) for Rs 215.3 crore. With this acquisition, Pricol will see a consolidated topline addition of approximately Rs 730 crore, combined with SACL’s strong financial parameters, which are value-accretive to Pricol. The board has approved the company’s further investment of up to Rs 120 crore in shares of Pricol Precision Products in one or more tranches and to provide a corporate guarantee of up to Rs 250 crore for any loans to be obtained by Pricol Precision Products.

TVS Motor Company

The board of directors of its subsidiary Sundaram Auto Components has approved the sale of its injection-molded plastic component solutions division to Pricol Precision Products on a slump sale basis for Rs 215.3 crore.

Indoco Remedies

The pharmaceutical company announced a collaboration with Clarity Pharma, UK. It will launch around 20 products over the next 18 months through Clarity Pharma, its distributor in the UK.

Polymechplast Machines

Sitaram Lokhande has resigned as the Chief Executive Officer (CEO) of the company, effective December 2. Manan Joshi has been appointed as the new CEO of the company, effective the same day.

Hindustan Unilever

The FMCG major has made a payment of Rs 192.55 crore, which is 20% of the total outstanding tax demand of Rs 962.75 crore, as per the direction of the Assessing Officer. The Income Tax Authorities had raised a tax demand of Rs 962.75 crore (including an interest of Rs 329.33 crore) on the company, related to its deal with GlaxoSmithKline.

Nazara Technologies

Nazara has expanded into physical entertainment with the acquisition of a 60% stake in Funky Monkeys Play Centers, a leader in indoor soft play centers for children, for Rs 43.7 crore. Additionally, Nazara will infuse primary funds of up to Rs 64 crore into Nodwin Gaming via the subscription to its optionally convertible preference shares (OCPS).

Indian Railway Finance Corporation

Ajoy Choudhury has assumed the post of Chief Risk Officer of IRFC, effective December 2, on a contractual basis for a fixed tenure of two years.

Allcargo Logistics

ECU Worldwide, the wholly-owned subsidiary of Allcargo Logistics, has appointed Jan Kleine-Lasthues as the Chief Operating Officer.TVS Motor Company

The board of directors of its subsidiary Sundaram Auto Components has approved the sale of its injection-molded plastic component solutions division to Pricol Precision Products on a slump sale basis for Rs 215.3 crore.

Indoco Remedies

The pharmaceutical company announced a collaboration with Clarity Pharma, UK. It will launch around 20 products over the next 18 months through Clarity Pharma, its distributor in the UK.

Polymechplast Machines

Sitaram Lokhande has resigned as the Chief Executive Officer (CEO) of the company, effective December 2. Manan Joshi has been appointed as the new CEO of the company, effective the same day.

Hindustan Unilever

The FMCG major has made a payment of Rs 192.55 crore, which is 20% of the total outstanding tax demand of Rs 962.75 crore, as per the direction of the Assessing Officer. The Income Tax Authorities had raised a tax demand of Rs 962.75 crore (including an interest of Rs 329.33 crore) on the company, related to its deal with GlaxoSmithKline.

Nazara Technologies

Nazara has expanded into physical entertainment with the acquisition of a 60% stake in Funky Monkeys Play Centers, a leader in indoor soft play centers for children, for Rs 43.7 crore. Additionally, Nazara will infuse primary funds of up to Rs 64 crore into Nodwin Gaming via the subscription to its optionally convertible preference shares (OCPS).

Indian Railway Finance Corporation

Ajoy Choudhury has assumed the post of Chief Risk Officer of IRFC, effective December 2, on a contractual basis for a fixed tenure of two years.

Advait Infratech

The company’s subsidiary, Advait Energy Transitions, has been declared a qualified bidder by Gujarat Urja Vikas Nigam for setting up standalone battery energy storage systems in Gujarat.

KEC International

The Bangladesh VAT Tribunal has dismissed the company's appeal against the VAT demand for the period from July 2019 to June 2022. The appeal for the period from July 2017 to June 2019 is still pending before the tribunal. KEC plans to take appropriate legal steps to challenge the order in the High Court of Bangladesh. The company does not foresee any material financial implications from the said order.

Chambal Fertilisers and Chemicals

The company has signed an Agreement for Research with The Energy and Resources Institute (TERI) to establish the CFCL-TERI Centre of Excellence for Advanced and Sustainable Agriculture Solutions.

Muthoot Capital Services

The board will meet on December 5 to consider the issuance of non-convertible debentures (NCDs) of up to Rs 90 crore on a private placement basis.

SEAMEC

The vessel SEAMEC GALLANT, owned by the company’s subsidiary SEAMEC International FZE, has been wrongfully arrested by an order issued by the Fujairah Federal Court of First Instance. Glander International Bunkering – DMCC initiated this action due to non-payment of bunker. The subsidiary is contemplating legal action to protect its rights and seek compensation for financial loss.

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