Manappuram Finance mentioned that Bain Capital would choose up an 18 per cent stake within the gold mortgage supplier for ₹4,385 crore by means of subscription of shares and warrants at ₹236 apiece, implying a 30 per cent premium over the six-month common buying and selling worth of Manappuram Finance. The deal will set off a compulsory open provide for the acquisition of an extra 26% stake within the firm from current shareholders, it mentioned. Based mostly on open provide subscription, Bain Capital’s stake post-investment will range between 18 per cent and 41.7 per cent.
The board of Hero MotoCorp has thought-about and authorized a strategic funding of as much as ₹525 crore (in a number of tranches), in Euler Motors Non-public Restricted to accumulate 32.5% stake in electrical three-wheeler firm. The acquisition is anticipated to be accomplished by April 30.
Aditya Birla group chairman Kumar Mangalam Birla has mentioned the group’s flagship Hindalco will make investments ₹45,000 crore in copper and aluminium segments and entry into the electrical mobility supplies house by organising the nation’ first copper foil facility for electrical automobiles. The funding will concentrate on upstream operations and superior, high-precision engineered merchandise.
Bajaj Finance on Thursday named Anup Kumar Saha as its managing director, changing Rajeev Jain. The corporate mentioned Jain shall be re-designated as its vice chairman for 3 years, efficient April 1. Saha, who presently serves because the deputy managing director, may even tackle his new function beginning April 1, till the top of his tenure on March 31, 2028
Shares of Bajaj Housing Finance Ltd shall be within the highlight, as will probably be receiving inflows as a part of the FTSE rebalancing changes, which is able to happen in direction of the shut of the buying and selling session on Friday.
Mundra I Transmission Ltd, a venture particular particular goal car (SPV) has been transferred to Adani Power Options, an change submitting mentioned on Thursday. Mundra I Transmission was established for the event of transmission system for provide of energy to inexperienced hydrogen/ammonia manufacturing potential in Mundra space of Gujarat. The asset which was a completely owned subsidiary of PFC Consulting Ltd has been transferred to Adani Power Options, the profitable bidder on March 20, Energy Finance Company (PFC) mentioned within the submitting.
Zomato Ltd has mentioned the Ministry of Company Affairs (MCA) has authorized the identify change of the corporate to Everlasting Restricted, efficient March 20, 2025. The corporate clarified that the identify change applies solely to the company entity and doesn’t have an effect on its model or app identification. The change is a part of a broader technique to align with the corporate’s evolving enterprise pursuits.
Hindustan Development Firm Ltd (HCC) and Tata Initiatives Ltd in a 50:50 Joint Enterprise have acquired a ₹2,470 crore contract by Tata Energy Firm for the development of Bhivpuri Off-Stream OpenLoop Pumped Storage Undertaking (PSP) 1000 MW (2×333 MW + 2×167 MW) at Karjat, Maharashtra
Sirca Paints India Restricted has acquired the enterprise enterprise of “Wembley Group” i.e. Wembley Paints and Chemical compounds, Indo Wembley Paints Pvt. Ltd. and Wembley Gross sales Company by coming into right into a Enterprise switch settlement, Additional, the transaction has been executed on an itemised property foundation for an mixture buy consideration of ₹81.50 crore.
Put up Accenture outcomes, Indian IT shares shall be in focus. The worldwide IT companies big raised the decrease finish of its full-year income forecast however narrowed its steering vary, citing an unsure surroundings for discretionary spending following which ADRs of IT shares will finish in crimson.
Bengaluru-based Embassy Developments Restricted, by means of its wholly owned subsidiary Embassy East Enterprise Park, has signed a ₹1,125 crore land transaction take care of Lam Analysis (India), a number one world semiconductor tools producer, as per an organization assertion. The settlement consists of the sub-leasing and eventual divestment of a 25-acre land parcel in Whitefield, Bengaluru. The transaction is topic to crucial regulatory approvals.
Unichem Laboratories has accomplished the capability enlargement (Part I) of API plant at Pithampur. This may add 210 KL capability to its current capability ₹259.5 KL with a ₹200 crore funding.
Forward of its second spherical of fund infusion — of roughly ₹1,500 crore due in April — PSU steel-maker RINL (Rashtriya Ispat Nigam Ltd) has initiated a recent spherical of discussions with an SBI-led consortium of banks to refinance its high-interest bearing long-term loans. The talks embody a proposal for the Andhra Pradesh authorities to select up stake within the firm as fairness infusion in lieu of energy provide.
Glenmark Prescribed drugs Inc., USA (Glenmark) has acquired remaining approval by america Meals & Drug Administration (U.S. FDA) for Olopatadine Hydrochloride Ophthalmic Answer USP, 0.2% (OTC), decided by the FDA to be bioequivalent1 to Pataday2 As soon as Each day Reduction Ophthalmic Answer, 0.2% (OTC), of Alcon Laboratories, Inc. Olopatadine Hydrochloride Ophthalmic Answer USP, 0.2% (OTC), shall be distributed within the US by Glenmark Therapeutics Inc., US.
RailTel Company of India has bagged a brand new work order value Rs 16.89 crore from the Ministry of Defence for laying optical fiber cables (OFC).
