Tata Power Solar Systems Ltd., a wholly-owned subsidiary of Tata Power Renewable Energy Ltd., has signed a Memorandum of Understanding (MoU) with Small Industries Development Bank of India to provide convenient financing options to MSMEs. TPREL is a subsidiary of Tata Power.
RITES Limited, a major transport infrastructure consultancy and engineering company, has signed a Memorandum of Understanding (MoU) with Angola’s Caminho De Ferro De Moçâmedes (CFM) to collaborate in the development of railways and related infrastructure, including the supply of rolling stock.
The Sikkim High Court has dismissed a writ petition filed by Zydus Wellness Products Limited, a subsidiary of Zydus Wellness Ltd, against the budget support scheme for the goods and services tax regime issued by the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry. ZWPL believes that the facts of its case are sufficient and plans to appeal against the above judgment in due course.
Wipro Holdings (UK), a wholly-owned subsidiary of Wipro (WOS), has transferred 100% equity stake in Wipro 4C NV (sub-subsidiary) to Wipro IT Services UK Societas (WOS), effective September 12. Wipro Holdings (UK) and Wipro IT Services UK Societas are wholly owned subsidiaries of the company, while Wipro 4C NV is a downgraded subsidiary of the company. The purpose of this equity transfer is to rationalize and simplify the overall structure of the group.
KEC International Ltd., a global infrastructure EPC giant and RPG Group company, has secured new orders worth Rs 1,000 crore. Revenue from various businesses including civil, power transmission and distribution and cable TV amounted to Rs 1,012 crore.
The board of directors of CRISIL Ltd has approved the acquisition of 100% equity capital of Bridge to India Energy Private Limited for a price of Rs 6 crore, subject to closing adjustments. In addition, an advance payment of Rs 13 crore will be made as non-compete fee. A binding agreement regarding the acquisition was signed today. In addition, the board of directors of existing subsidiary CRISIL Irevna UK Limited has approved the establishment of a wholly-owned subsidiary in Colombia, named “Crisil Irevna Information Technology Columbia SAS”.
Bajaj Healthcare Limited, a leading manufacturer of APIs, intermediates and formulations, announced the appointment of Dr. Mohammed Jaweed Mukarram as Consultant in the R&D department, specializing in Active Pharmaceutical Ingredients (APIs).
Aditya Birla Fashion & Retail Ltd has incorporated a new company viz. CLI Footwear and Accessories Private Limited in collaboration with Christian Louboutin SAS. The Ministry of Corporate Affairs of the Government of India issued the certificate of incorporation on September 12.
Vakrangee Limited (VL) has entered into a binding term sheet with private equity investor International Finance Corporation (IFC) to acquire 8.8% stake in Vortex Engineering Private Limited (Vortex) in addition to its previous acquisition of 48.5% stake from Aavishkaar capital. This development solidifies Vakrangee’s commitment and investment in the ATM business vertical and supports its emergence as a leading fintech company in rural Bharat.
India Renaissance Fund (IndiaRF), a leading India-focused investment platform driven by Piramal Enterprises Limited and Bain Capital, today announced an investment of INR 525 crore in Ivy Health and Life Sciences Private Limited (Ivy). After the transaction is completed, IndiaRF becomes the majority shareholder of Ivy. The deal marks IndiaRF’s first investment in the healthcare sector and the first such investment in the hospital sector in northern India.
Dixon Infotech Private Limited has become a wholly owned subsidiary of Dixon Technologies (India) Limited (“WOS”). The new entity will be engaged in manufacturing/trading/repair of laptops, desktop computers, IoT devices, monitors, servers, tablets, e-books/e-readers and related hardware and software products.
GE Power India Limited has received an order for NOX emission reduction from Vedanta Limited for 3 x 30 MW CGPP unit in Ranjigarh. The base value of the order is above INR 250 million (including GST 18%).
Waaree Renewable Technologies Limited has received a letter of intent for engineering, procurement and construction (EPC) services for the construction of a 52.6 MWp solar power project. The project is expected to be completed in the 2023-24 financial year.
DMR Hydroengineering & Infrastructures Limited has received a work order from Prebid Engineering Services to provide consultancy services for the Godhaneswar in-river water storage structure across the Mahanadi river in Odisha. The order value is Rs. 1 million plus applicable taxes.
Booker India Limited, a subsidiary of Trent Limited, has acquired approximately 4.95% of the share capital of its subsidiary Fiora Online Limited (FOL) from shareholders. After this acquisition, BIL’s shareholding has increased to 95.05% of FOL’s share capital.