HG Infra Engineering, KPI Global Infrastructure and Ashoka Buildcon to see some action today

HG Infra Engineering has incorporated a wholly owned subsidiary company ‘H.G. Raipur Visakhapatnam AP-1’ on August 19, 2021, as Special Purpose Vehicle ('SPV') for development of Six Lane Aluru -Jakkuva Section of NH-130-CD-Road from km 365+033 to km 396+800 under Raipur-Visakhapatnam Economics Corridor in the state of Andhra Pradesh on Hybrid Annuity Mode [Package-I(AP)].

KPI Global Infrastructure has successfully commissioned new capacity of 2.05 MW (DC) in its existing solar power plant at Village-Sudi & Tancha, Ta-Amod, District- Bharuch. The additional capacity of 2.05 MW (DC) was commissioned with effect from July 1, 2021 under Independent Power Producer (IPP) category for Cadila Healthcare, Ahmedabad against their Power Purchase Agreement (PPA) capacity for which the company has also received Commissioning Certificate dated August 17, 2021 from Gujarat Energy Development Agency (GEDA). With this addition, the total cumulative plant capacity under IPP Category of the solar power plant as on date has gone up to 59.03 MW - DC.

Ashoka Buildcon has received Notification of Award (NOA) from Rewa Ultra Mega Solar (RUMS) in respect of the Project, Viz. 'sub-station package -SS71 Associated with the Development of Transmission system for 1500 MW Solar parks in Madhya Pradesh (Project). The accepted Contract Price of the Project is Rs.186.11 crore. 

Lemon Tree Hotels has signed license agreement for a 39-room upcoming Hotel at Tapovan in Rishikesh at Uttarakhand under the brand ‘Keys Lite by Lemon Tree Hotels’. The Hotel is expected to be operational by March 2022. The Hotel will feature 39 well-appointed rooms, complemented by a multi-cuisine restaurant. It will also have a conference room for meetings and events. Carnation Hotels, a subsidiary and the hotel management arm of the Company will be operating and marketing this Hotel.

United States Agency for International Development (USAID) and US International Development Finance Corporation (DFC) have entered into partnership with Kotak Mahindra Bank for $50 million (about Rs 372 crore) loan guarantee for Indian women and small business borrowers. The bank will be providing loans for on-lending to non-bank lenders operating in the MSME and micro-lending space. The program is likely to benefit 30,000 women borrowers and 7,500 MSMEs.

Adani Total Gas has executed a Share Subscription and Shareholders' Agreement (SSSA) with GSEC and Smartmeters Technologies (SMTPL) to acquire 50% stake in Smartmeters Technologies. The cost to acquire 50% stake in SMTPL will be Rs 1 crore i.e. 10,00,000 Equity Shares of Rs 10 each by way of further issuance of equity shares by SMTPL. The objects of acquisition is to manufacture gas meters with a focus on prepaid smart meters. The acquisition is expected to be completed by September, 2021.

Vidli Restaurants has received approval to enter into Share Purchase agreement (SPA) with Conwy Hospitality and Vitizen Hotels for the purpose of acquisition of 31,45,510 Equity Shares of Rs 10 each (84.01%) of Vitizen Hotels from Conwy Hospitality at a price of Rs 13 per share for cash.