On August 22, 2024, Adani Power announced that the National Company Law Tribunal (NCLT) in Hyderabad had approved its proposal to acquire Lanco Amarkantak Power Ltd (LAPL) with an upfront payment of ₹4,101 crore. Lanco Amarkantak Power Ltd is currently in the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, according to …
Hindalco Industries is planning to invest $10 billion in its ongoing expansion efforts, according to Chairman KM Birla. This investment includes the expansion at Novelis and plans to grow its aluminium and copper smelting operations. Birla, while speaking at the company’s annual general meeting (AGM), said, “Our expansions across the India business and Novelis will …
On August 22, 2024, Dalmia Cement (Bharat) Limited signed addendums to the SPA and PPA to acquire an additional 7.31% equity stake in O2 Renewable Energy V Private Limited, which consists of 2,782,685 equity shares worth ₹3.15 crore. This acquisition may occur in one or more tranches. As a result, DCBL’s total equity stake in …
On August 22, 2024, Muthoot Microfin, a leading microfinance institution in India, announced the opening of its first branch in Andhra Pradesh, located in Chodavaram. Mr Udeesh Ullas, COO, and Mr Subhransu Pattnayak, CHRO of Muthoot Microfin, attended the inauguration. With this new branch, Muthoot Microfin has extended its presence to 20 states and now …
Allied Blenders and Distillers Limited (ABDL) has announced a strategic partnership with Lexplosion Solutions to implement Komrisk, an advanced regulatory compliance management software. This collaboration is designed to strengthen ABDL’s compliance framework, ensuring robust regulatory adherence across its extensive national operations. With the deployment of Komrisk, ABDL aims to enhance its operational efficiency and maintain …
On August 22, 2024, Bharat Forge Limited announced that its Board, specifically the ‘Investment Committee – Strategic Business,’ has approved an additional investment in its wholly-owned subsidiary, Kalyani Powertrain Limited (KPTL). This strategic move underscores Bharat Forge’s commitment to advancing its electric vehicle (EV) and e-mobility initiatives. KPTL, a public limited company incorporated on September …
On August 22, 2024, Power Grid Corporation of India Limited (POWERGRID) announced the acquisition of Beawar – Mandsaur Transmission Limited (BMTL) and Sirohi Transmission Limited (STL). Both acquisitions were achieved through successful bidding under Tariff Based Competitive Bidding (TBCB) guidelines. Beawar – Mandsaur Transmission Limited Acquisition POWERGRID acquired BMTL, a Special Purpose Vehicle (SPV), for …
On August 22, 2024, Lemon Tree Hotels informed the stock exchanges about the signing of its latest property, Keys Select by Lemon Tree Hotels, Shivpuri, Madhya Pradesh. This new addition will be franchised by Lemon Tree Hotels and is expected to open in FY 2026. Shivpuri, a charming town in Madhya Pradesh, is celebrated for …
Wipro Ltd announced that the company was selected by the John Lewis Partnership (JLP) to transform and modernise its IT infrastructure, solidifying the UK retailer’s position as an industry leader. This strategic partnership will enable JLP to future-proof its business and sustain ongoing growth through cutting-edge technology. Wipro FullStride Cloud will extend JLP’s existing cloud …
On August 22, 2024, Bandhan Bank Ltd, on the eve of its Foundation Day, announced the launch of Avni, an exclusive savings account tailored for women. The bank also introduced its innovative loyalty program, Bandhan Bank Delights, where customers can earn reward points known as Delight Points. These points can be redeemed for purchases and …
