PG Electroplast, Praj Industries and Isgec Heavy Engineering to see some action today

PG Electroplast (PGEL) has acquired 100% stake in PG Technoplast. Consequently, PG Technoplast has become a Wholly Owned Subsidiary of the company. The object of said acquisition is to avail various special fiscal incentives and benefits under Industrial and other policies of Central and State Governments.

Praj Industries has signed Memorandum of Understanding (MoU) with the Institute of Chemical Technology (ICT) to jointly promote higher education and research in the areas of process development and development of novel reactor designs for biochemical and catalytic processes. The MoU comes into effect immediately and will be valid for the next 10 years, that is up to December 31, 2030.

Isgec Heavy Engineering has secured a new order from KPR Sugar & Apparels to set up a 10,000 TCD Sulphurless Sugar Plant, 40 MW Co-Generation Plant, 60 TPH Incineration Boiler and 7.5 MW Power Plant for Zero Liquid Discharge system for client's distillery plant on EPC basis. The order is valued at Rs 431 crore.

Coal India is aiming at substituting imported dry fuel of 80-85 million tonne (MT) with more domestic supplies in the current fiscal. The country had imported 248 million tonne of coal in 2019-20, resulting in an outflow of around Rs 1 lakh crore of foreign exchange.

Mindspace Business Parks REIT has raised Rs 200 crore through non-convertible debentures (NCDs) and allotted 2000 NCDs having face value of Rs 10 lakh each on a private placement basis.

IFC -- a member of the World Bank group, and IFC Emerging Asia Fund (EAF) are planning to invest Rs 556 crore in an affordable housing platform of realty firm Puravankara to develop up to four projects. IFC and IFC EAF have partnered with the Puravankara Group to invest in the development of up to four residential projects under the Puravankara group's affordable housing brand 'Provident'. Two of these four projects are planned in Kochi and Bengaluru with a saleable area of 4.5 million sq ft. About 4,000 housing units will be built in the next five to seven years, with other projects to be identified by 2021.

Manappuram Finance has received approval to raise Rs 400 crore through issuance of Secured, Rated, Listed, Redeemable, Non-Convertible Debentures (NCDs) of face value of Rs 10,00,000 each for an amount of Rs 100 crore with an option to retain over subscription upto Rs 300 crore on private placement route. Financial Resources and Management Committee of the Board of Directors of Manappuram Finance at its meeting held on December 17, 2020, approved the same.