Tube Investments of India Ltd (TII) has signed a share purchase and shareholders’ agreement with Noida-based Moshine Electronics Pvt. Ltd. (MEPL) to purchase a 76% equity investment for a potential total of 8.64 crore. In a statement, TII Chairman M.A.M. Arunachalam said, “Through the acquisition of Moshine Electronics, we have diversified into the ecosystem of
The acquisition of 10.4% share held by the State government in Gangavaram Port Ltd (GPL) by Adani Ports and Special Economic Zone Ltd (APSEZ), the largest private port and logistics enterprise in the nation and the flagship of the Adani Group’s transportation division, was completed for Rs 645 crore. The boards of both APSEZ and
The Board of Directors of Suzlon has agreed to issue equity shares of the company by means of a right issue to the eligible equity shareholders of the company. The decision was made at a meeting of the securities issue committee held on Sunday. The fixed issue price for equity shares is Rs 5, which
ITC Limited, a tobacco-to-food consumer conglomerate, is vying with Nestle India to acquire Bengaluru-based Yoga Bar, an 8-year-old health snack firm, while the latter is seeking growth equity, according to persons with knowledge of the situation. Dabur, a company located in Delhi, and the venture capital firm A91 Capital were among others who considered the
According to a release, Reliance New Energy Ltd, a wholly-owned subsidiary of the corporation, inked formal agreements to invest in Caelux Corporation, a Pasadena, California-based company involved in the development of perovskite-based solar technology. In Jamnagar, Gujarat, where an integrated photovoltaic facility is being built, Reliance’s gigafactory, the alliance is anticipated to aid in the
KP Energy has been given the go-ahead to establish an 8.1 MW hybrid power project in Gujarat for its captive customers Haq Steel and Metaliks. This project would consist of 8.1 MW of wind capacity and 6 MW of solar capacity. The Gujarat Hybrid Power Policy, 2018, further said that the project was expected for
As a result of this partnership, more than 14,000 bank branches throughout India have joined and will be able to link retirees, particularly those who reside in distant areas, to last-mile services. The remaining pensioners will be brought to SPARSH as soon as possible, according to Defense Secretary Dr. Ajay Kumar, who stated that the
The building of a 65 MW coal-based power plant at the Dahej Complex as well as the expansion of the Caustic Soda Plant at the Dahej Complex from 785 TPD to 1310 TPD had already been approved by the company’s board of directors. The expansion of the caustic soda plant at the Dahej Complex has
The South Western Railway has accepted Ashoka Buildcon’s bid for the project, which involves building a new BG Line as well as carrying out electrical and telecommunications work between the stations of Tolahunse and Bharmasagar. The project cost of the selected offer is Rs. 258.1 crore. On the stock exchanges today, activity is humming for
Tube Investments of India Ltd announced plans to purchase a 65 percent ownership investment in the electric heavy commercial vehicle manufacturer lPLTech Electric Private Ltd (IPLT). Through Tl Clean Mobility Private Ltd (TICMPL), a fully owned subsidiary of Tube Investments of India Ltd., the transaction will be made. According to the firm, TICMPL wants to
