CMS Information Systems: Dalal Street Cash Management Systems Operator will start today. The company raised Rs 1,100 crore via the base track as it offered its shares in the range of Rs 205-216 per lot between December 21 and 23. The release was generally subscribed less than twice. It was getting almost a tiny premium on the gray market.
Central Bank of India: The largest public sector lender said it will acquire about 10 per cent of the stake in India International Clearing Corporation (IICC). IICC is the first international clearing company set up in GIFT-IFSC that acts as a central counterparty providing clearing, settlement and risk management services.
Hindustan Unilever: FMCG distributors in Maharashtra are planning to stop selling select products from leading HUL from January 1, as the company has not engaged in talks with them on the issue of price disparity between traditional distributors and regulated B2B distributors.
NTPC: The state-run energy major said its board of directors has approved a proposal to decommission Muzaffarpur Thermal Power Plant (MTPS), Phase One (2X110 MW) at Kanti Bijiee Utpadan Nigam (KBUNL) from September 8, 2021.
PB Fintech: The insurer has agreed to an investment of up to Rs 700 crore in one or more tranches in its subsidiary Polisibazaar Insurance Brokers Private Limited during the financial years 22 and 2013, and up to Rs. 299.99 crore in its subsidiary Paisabazaar Marketing and Consulting Private Limited.
Indian Power Grid Corporation: The state-run energy operator has approved an investment proposal of Rs 322 crore for telecom expansion in its data center business.
SBI Cards and Payment Services: The credit card company has linked up with Paytm to encrypt the card to protect cardholders’ data. SBI Card has partnered with Paytm to enable cardholders to tokenize their cards on devices and make payments through Paytm.
JSW Power: Life Insurance Corporation of India acquired more than 2 per cent of its stake in the company through open market transactions, increasing the shareholding to 9.01 per cent from 7 per cent earlier.
RBL Bank: The private lender has commissioned a search committee, consisting of two members of the Board of Directors, the chair of the Nomination and Remuneration Committee and an outside expert, to find a suitable candidate for the position of managing director and CEO of the lender.
Biocon: The biotech arm, Biocon Biologics, said its partner Viatris has won upholding US federal court decisions in Sanofi’s patent inability challenge for five device patents for the disposable insulin injection pen.
IDFC First Bank: The private lender said its board of directors favored a merger between IDFC and IDFC Financial Holding (Group of Promoters) with the bank. The Board of Directors of the Bank, at a meeting held on December 30, 2021, considered the proposal to merge IDFC Ltd and IDFC Financial Holding Co Ltd (Group of Promoters) with
Firstsource solutions: The information technology company said it has entered into an agreement to acquire American Recovery Services (ARSI), a network of national legal groups based in Southern California. The acquisition reinforces Firstsource’s leadership in consumer debt management services by adding legal stage collection capabilities.
Manapuram Finance: The NBFC said it has raised Rs 250 crore by issuing the bonds, the amount will be used to reduce its debt and support capital resources. The Board of Directors of the Company in its meeting approved the allotment of secured, classified, listed, redeemable and non-convertible bonds amounting to Rs 250 crore on a private placement basis.
Total Adenoid Gas: The city’s joint gas project between Adani Group and France’s TotalEnergies said it has launched a new green initiative targeting afforestation, outreach to millennials, and energy audits.
Jindal Power: The Competition Commission of India has approved Worldone’s acquisition of more than 96 percent of Jindal Power. Earlier in July, Jindal Steel & Power announced receiving a revised offer of Rs 7,401 crore from Worldone Private Limited to acquire a 96.42 per cent stake in Jindal Power.
dish tv: The cable television station’s Ordinary General Assembly was held on Thursday, but the outcome of the electronic vote to pass resolutions, including the reappointment of its director Ashok Koren, will not be known until after permission is obtained from the Bombay High Court.
Stirling and Wilson Renewable Energy: The renewable energy operator has agreed to allocate Rs 2.93 crore of equity for Rs 1,099 crore to
New Energy Solar Ltd. Following this transaction, Reliance New Energy Solar Ltd. (RNESL), part of Reliance Industries, will own 15.46 percent of the paid-in capital of SWRE stock.