IDFC First Bank
The board has approved the preferential allotment of Rs 43.72 crore compulsorily convertible cumulative preference shares to Platinum Invictus B at an issue price of Rs 60 per share, raising approximately Rs 2,623 crore.
GNG Electronics
The company will provide an additional corporate guarantee of AED 5 million to the Commercial Bank of Dubai, raising the total guarantee to AED 15 million. This acts as security for a working capital facility for its subsidiary, Electronics Bazaar.
Bombay Dyeing & Manufacturing
The company has won an appeal with the Maharashtra State Tax Tribunal, overturning an annual tax demand of Rs 3.91 crore for the period April–June 2017.
Lloyds Metals and Energy
The company has emerged as the successful bidder for the Tandsi – III and Tandsi – III Extension coking coal mine, with a premium of 10.5%. The mine spans 338 hectares and holds 23 million metric tonnes of estimated reserves.
Vedanta
Vedanta’s arm Bharat Aluminium Company has received a penalty order of Rs 80.96 lakh from the Income Tax Department for FY 2012-13. The company plans to appeal the order.
Servotech Renewable Power
Servotech has secured an order worth Rs 28.84 crore for the supply, installation, testing & commissioning of a grid solar power plant across the Jaipur Division of Northwestern Railway.
Dynamic Cables
The company has received a BIS license to manufacture High Conductivity Aluminium Alloy Stranded Conductors and Thermosetting Insulated Armoured Fire Survival Cables. Its production capacity now supports a monthly turnover of Rs 135 crore, up from Rs 100 crore earlier.
Indian Railway Finance Corporation (IRFC)
IRFC has sanctioned and executed agreements for a Rs 199.70 crore term loan facility with Surat Integrated Transportation Development to fund the Surat Multi-Modal Transport Hub.
SRF
SRF has signed agreements with Chemours to support market requirements for essential applications by 2026.
Kolte-Patil Developers
BREP Asia III India Holding has launched an open offer to acquire up to 2.31 crore equity shares (26%) of Kolte-Patil Developers.
HDFC Bank
S&P Global has upgraded HDFC Bank’s rating to BBB/Stable/A-2 from BBB-/Positive/A-3, reflecting stronger fundamentals.
CCL Products
The company has entered into an agreement to acquire a 26% equity stake in Mukkonda Renewables for Rs 9.57 crore. This investment secures 7.9 MW of renewable wind and solar energy under a group captive model.
Reliance Industries
Reliance’s arm Reliance NeuComm has completed its voluntary winding-up process and filed a Certificate of Termination with the Secretary of State of Texas.
NTPC
The company’s subsidiary has declared two renewable projects commercially operational — a 212.5 MW solar project in Gujarat and a 52.8 MW wind project in Gujarat.