Reliance Industries, EPL and Dr. Reddy’s to see some action today

Reliance Industries has entered into a definitive agreement, for making capital contribution, up to $50 million, in Breakthrough Energy Ventures II, L.P. (BEV), a limited partnership, newly incorporated under the Delaware State Laws, United States of America. The capital contribution commitment of $50 million constitutes 5.75% of the size of the fund contemplated at present. The said investment will be made in tranches over the next 8-10 years.

EPL’s Board of Directors has approved the acquisition of Creative Stylo Packs in a part-cash and part-stock transaction. Creative Stylo Packs is an established manufacturer of corrugated boxes, laminated tubes, plastic co-ex tubes and caps-primarily serving personal care, cosmetic, pharmaceuticals and FMCG markets in India.The transaction entails purchase of 72.5% stake in Creative Stylo Packs through cash. The remaining 27.5% stake will be purchased through issuance of EPL shares to the founders of Creative Stylo Pack post the merger.

Dr. Reddy’s Laboratories has launched Succinylcholine Chloride Injection USP, 200 mg/10 mL (20 mg/mL), Multiple-Dose Vials a therapeutic equivalent generic version of Quelicin (Succinylcholine Chloride) Injection, 20 mg/mL, approved by the US Food and Drug Administration (USFDA). The Quelicin brand and generic market had U.S. sales of approximately $74.8 million MAT for the most recent twelve months ending in September 2020 according to IQVIA Health. Dr. Reddy’s Succinylcholine Chloride Injection USP, 200 mg/10 mL (20 mg/mL), is available in multi-dose vials.

Lupin in alliance with Concord Biotech (Concord) has received approval from the United States Food and Drug Administration (USFDA) for Tacrolimus Capsules USP, 0.5 mg, 1 mg, and 5 mg, to market a generic version of Prograf Capsules, 0.5 mg, 1 mg, and 5 mg, of Astellas Pharma US, Inc. Tacrolimus Capsules USP are indicated for the prophylaxis of organ rejection in adult and pediatric patients receiving allogeneic liver, kidney or heart transplants, in combination with other immunosuppressants.

Generic Engineering Construction and Projects has been awarded the with work for Civil, Structural, Architectural & External Development works for GIS &DC4 Building at Ctrls in Mumbai worth Rs 57 crore plus GST. With receipt of the said order, the total current outstanding order book stands at Rs 1087.50 crore. The business opportunities in the company’s core operating region of MMR have been promising and it expects the momentum of order inflow in residential, industrial and infrastructure sector to continue.

AU Small Finance Bank has started its operations in Eastern India with the setting up of a branch in the metropolis on November 12, 2020. Since the start of banking operations three and half years ago, AU has presently 710 touchpoints in 13 states and two UTs.

Infibeam Avenues has received approval from board of director for investment in So Hum Bharat Digital Payments. Aggregate cost of investment not exceeding Rs 18 crore, to be invested in the Equity Shares of the face value of Rs 10 each at par. Post-acquisition, So Hum will become associate Company.