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Piramal Enterprises, Kalpataru Power Transmission and Bosch to see some action today

26 Nov 2021 Evaluate

Piramal Enterprises’ subsidiary -- Piramal Capital & Housing Finance (PCHFL) has tied up with API Holdings to provide financing solutions to customers and has earmarked an amount of Rs 100 crore for disbursement by the end of this fiscal. The company has forged a strategic partnership with API Holdings through its digital platform Retailio. Retailio is India's largest digital B2B healthcare platform.

Kalpataru Power Transmission (KPTL) is set to approach a New York court to seek enforcement of an arbitration award of over $32 million (about Rs 240 crore) against Rwanda Energy Group (REG) in a matter related to a dispute over a contract. The company had entered into a contract with REG in November 2013 to install and commission a 220 KV power transmission network connecting Democratic Republic of Congo and Rwanda in Central Africa. A dispute arose when REG refused to pay KPTL for price adjustment.

Bosch has partnered with Deutsche Gesellschaft fur International Zusammenarbeit (GIZ) GmbH to jointly launch a green urban mobility innovation initiative for implementing sustainable and smart mobility solutions across several Indian cities. GIZ is a German government-owned enterprise providing support to achieve its objectives in the field of international cooperation for sustainable development.

Housing Development Finance Corporation (HDFC) is planning to raise Rs 2,000 crore by issuing secured redeemable non – convertible debenture (NCDs) on private placement basis at 7.05% p.a. coupon rate. The object of the issue is to augment the long term recourses of the company. The proceeds of the present issue would be utilized for financing/ refinancing the housing finance business requirements of the corporation.

Reliance Industries and Saudi Aramco have called off a deal for the state oil giant to buy a stake in the oil-to-chemicals business of the Indian conglomerate due to valuation concerns. 

Ugro Capital has received approval to raise Rs 15 crore through issue of 150 rated, senior, secured, listed, transferable, redeemable, principal protected market linked nonconvertible debentures (NCD’s) each bearing a face value of Rs 10 lakh each for cash, at par, in dematerialised form, on a private placement basis. The Investment and Borrowing Committee of the Board of Directors of the Company at its meeting held on November 25, 2021 has approved the same.

Seamec’s subject vessel ‘Seamec Princess’ has been contracted with Posh Subsea Pte for working at Mumbai High Offshore. The tenure of the contract is for a firm period of 21 days with option for extension. The contract will commence between the window period of November 25, 2021 to November 30, 2021. The aggregate value of contract is about $1.46 million exclusive of GST.

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