Trusted Industries: The energy, retail and telecommunications conglomerate has acquired local soft drink brand Campa from Delhi-based Pure Drinks group, sources said. The deal is valued at around Rs 22 crore and Reliance Retail Ventures would introduce it to general retail and local markets around Diwali.
Oil companies: The government has increased the windfall tax on diesel export to Rs 13.5 per liter and on jet fuel exports to Rs 9 per litre, in addition to increasing the tax on locally produced crude oil based on tightening world prices.
National Bank of India: The country’s biggest lender will sell Anamika Conductors’ non-performing loan account through an online auction at the end of September to recoup dues of Rs 102 crore. Anamika Conductors has an outstanding amount of Rs 102.30 crore. SBI has set the reserve price for the electronic auction, scheduled for September 28, 2022, at Rs 22.13 crore.
NTPC: The state-run power producer has secured shareholder approval to raise up to Rs 12,000 crore through the issuance of non-convertible debentures on a private placement basis for capital expenditure, the working capital and general business needs. The resolution was adopted by the required majority at the annual general meeting.
Tata engines: The local auto major said it has completed the acquisition of its partner Marcopolo’s stake in their bus body manufacturing joint venture Tata Marcopolo Motors. The 51:49 joint venture was formed in 2006.
Vodafone idea: The shareholders of the telecommunications player have approved the appointment of the company’s chief financial officer, Akshaya Moondra, as managing director. Moondra’s appointment comes at a time when the company is reeling from almost Rs 2 lakh crore debt and has suffered huge losses.
Biocon: The drugmaker said the USFDA issued Form 483s with 11 observations each for two sites in Bangalore and six observations for a factory in Malaysia, following inspections of seven manufacturing facilities at its Biocon Biologics arm. .
Havells India: The electrical and appliance maker said it plans to increase the production capacity of washing machines at its Ghiloth plant in Rajasthan, where it will invest Rs 130 crore. This expansion would be financed by internal provisions.
Stainless Steel Leisure: The multiplex operator has a pipeline of 834 additional screens after FY23, according to the company’s latest annual report. It operated 692 screens in 73 cities across India as of June 30, 2022, estimates the total number of screens at 752 by the end of the current financial year.
Sunteck Realty: The subsidiary of real estate company Clarissa Facility Management has acquired a 10% stake in Rusel Multiventures. With this acquisition, the company will leverage its facilities management expertise to create additional revenue streams, profitability and a continued supply of facilities.
Zee entertainment companies: The media major has announced that it has entered into a strategic licensing agreement with Disney Star for the television rights to the ICC World Men’s and Under-19 events for a period of four years. While Disney Star will continue to exclusively stream all ICC tournaments through its Disney+ Hotstar digital platform.
Finolex Industries: A majority of the plastics maker’s shareholders approved the reappointment of promoter Prakash Chhabria’s chairman and other resolutions proposed by management, rejecting recommendations from proxy advisory firms.
Spice spray: Struggling aviation funds reported a widening net loss to Rs 789 crore in the June quarter as high fuel prices and rupee depreciation hit the carrier. Amid the turmoil, the airline plans to raise $200 million or Rs 1,600 crore at current exchange rates and plans to complete the divestiture of its profitable cargo business into a separate company.
Indiabulls housing finance: The troubled NBFC will raise up to Rs 1,000 crore by floating secured, redeemable non-convertible debentures in a public offering scheduled for September 5. The fundraising plan is within the retention limit of Rs 1,400 crore. It is proposed to open the issue on September 5, 2022 and close on September 22.
New Delhi Television: Adani Group will launch its open offer on October 17 to acquire an additional 26% stake in media company NDTV. The open offer for the acquisition of 1.67 crore shares, for which a price of Rs 294 per share has been set, will provisionally close on November 1, said an advertisement from JM Financial, which manages the offer. .
Zydus Life Sciences: The pharmaceutical company said it has received final approval from the USFDA to market its generic version of venlafaxine extended-release tablets used to treat depression. It granted final approval for pregabalin extended-release tablets used to treat pain caused by nerve damage due to diabetes or shingles (herpes zoster) infection.
Nazara Technologies: The gaming and sports media company has acquired US-based WildWorks for Rs 82 crore in an all-cash deal. Its founder and chief executive, Nitish Mittersain, said the company had acquired WildWorks to bolster its learning-to-play vertical where it already ran the Kiddopia early learning platform for children.
Capital Reliance: IndusInd Bank, US-based asset management firm Oaktree Capital, Torrent Group and B-Right Group have submitted bids to buy indebted company
(RCL), according to the sources. These offers are in the range of Rs 4,000 crore for the company, which has eight different business lines.
Satellite TV: The Direct-to-Home operator said its chairman Jawahar Lal Goel will step down at the company’s next annual general meeting on September 26, 2022. Goel, whose proposal to renew as chief executive was rejected by shareholders at a special meeting held in June this year, did not reapply to continue as chairman.
Stainless steel wind: Developers of the leading wind power solutions provider will inject around Rs 800 crore by underwriting debt as part of the deleveraging. The placement of the debt with the promoters will be carried out on the basis of a private placement.
Mahanagar Telephone Nigam: Loss-making state-owned telecom company MTNL defaulted on an interest payment of Rs 35.15 crore to Union Bank of India, which was due to be paid in July. The company is reeling from a total debt of Rs 27,330 crore. MTNL has a total outstanding loan of 5,849.71 crores payable to
Coffee Day Companies: The debt level of the coffee and beverage business has been reduced “significantly” to Rs 1,810 crore as of March 31, the company said. However, there have been some loan principal and interest defaults and some lenders have exercised their rights, including recalling loans.
KP Energy: The power utility company has landed an order worth Rs 222 crore to develop wind power projects for Aditya Birla Group. The total value of the projects to be developed by KP Energy for Aditya Birla Group is Rs Rs 222 crore, with commissioning expected in March 2023.