The Competition Commission of India (CCI) on Tuesday said it has approved a proposal to acquire a 100 per cent stake in Coastal Energen Pvt Ltd by Adani Power Ltd and Dickey Alternative Investment Trust. The proposed transaction involves the acquisition of 100 per cent equity share capital of Coastal Energen Pvt Ltd (CEPL) by the acquirers (Dickey Alternative Investment Trust (DAIT) and APL), according to a release by fair trade regulator CCI. DAIT is a Sebi-registered Alternative Investment Fund (AIF). It is acting through its investment manager Dickey Asset Management Pvt Ltd.
Private equity firm TA Associates on Tuesday divested an 8 per cent stake in Prudent Corporate Advisory Services for Rs 414 crore through an open market transaction. According to the bulk deal data available with the NSE, TA FDI Investors offloaded 33,12,534 shares, representing an 8 per cent stake in Prudent Corporate Advisory Services.
Domestic telecom gear company HFCL has bagged an order worth ₹179 crore from Bharat Sanchar Nigam Ltd to supply 4G and 5G network equipment. Out of the total advance purchase order worth ₹179 crore, the company has secured an order worth ₹141 crore comprising ₹119 crore in capital expenditure and ₹22 crore for annual maintenance contract.
State-owned PFC Ltd on Tuesday said it has incorporated a wholly-owned subsidiary at the International Financial Services Centre (IFSC) GIFT City, Gujarat. The subsidiary, PFC Infra Finance IFSC Ltd, was officially incorporated on February 11, following a no-objection letter from the Reserve Bank of India (RBI) on January 9, 2024, for setting up of the finance company at IFSC GIFT City.
Water treatment player VA Tech WABAG Ltd has inaugurated its 178.3 million litres per day water treatment plant in Coimbatore. The project implemented under the Centre’s AMRUT scheme was designed, built and commissioned by VA Tech WABAG Ltd for the government-owned Tamil Nadu Water Supply and Drainage Board.
Eris Lifesciences has acquired a 51 per cent stake in Swiss Parenterals for ₹637.5 crore. Ahmedabad-based Swiss Parenterals is a leading player in the sterile injectables business in over 80 emerging markets across Africa, the Asia Pacific and Latin America. It has two facilities in Gujarat, which produce a wide range of sterile injectable formulations.
NTPC said its green energy subsidiary has commissioned a 14 MW capacity of Ayodhya Solar Photovoltaic Project. NTPC Green Energy Ltd, a wholly-owned subsidiary of NTPC, is setting up a 40 MW solar project in Ayodhya, Uttar Pradesh.
The board of Modern Engineering and Projects has approved the execution of joint venture agreement with Aquatech Solutions Private Limited. ASPL and MEPL have executed a Joint venture agreement to jointly develop/execute work of design, construction, supply, erection, testing, commissioning, startup and performance run of 3 Months followed up by Operation & Maintenance of 60 Months at Nashik Municipal Corporation.
ZF Commercial Vehicle Control Systems India Limited (Formerly known as WABCO India Ltd) along with its wholly owned subsidiary, ZF CV Control Systems Manufacturing India Private Limited, will commission its advanced automotive components plant at Oragadam (leasehold land) on February 14.
RailTel as Corporation of India Ltd received the work order from Prasar Bharati Broadcasting Corporation Of India for Design,Development, Implementation, Operations and Maintenance amounting to ₹139.73 crore (Including Tax).
The Rights Issue of Indiabulls Housing Finance Limited was oversubscribed over two times on the last day garnering more than ₹7,500 crore. The ₹3,693.34-crore rights issue received bids of 50.11 crore shares against offered 24.62 crore fully paid-up equity shares of face value ₹2 each with a rights issue price at ₹ 150 a share.
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