RITES, Shriram Transport Finance, Thomas Cook to see some action today

RITES has signed a memorandum of understanding (MoU) with SMEC Group to cooperate and explore infrastructure projects. The MoU will enable RITES and SMEC to collaborate and cooperate to explore, identify, pursue, and jointly execute mutually beneficial business opportunities in the infrastructure sector.

Shriram Transport Finance Company (STFC) has raised $475 million (about Rs 3,500 crore) through Reg S Bond, having a tenor of 3.5 years and offering a coupon of 4.15 per cent. The proceeds from the STFC social bond would be used for employment generation, including through micro, small, and medium-sized enterprise (MSME) financing.

Thomas Cook (India) has inaugurated a new Gold Circle Partner (franchise) outlet in Delhi. This expansion augments Thomas Cook India’s distribution and reach in Delhi-NCR to 13 consumer access centres: 6 owned branches and 7 Gold Circle Partner (franchise) outlets. In addition to serving the financial hub of Laxmi Nagar, the new outlet will serve as a hub for nearby residential areas of Nirman Vihar, Karkardooma, Preet Vihar as well.

GMR Infrastructure (GIL) has started trading at the stock exchanges as a pure-play airport sector company from January 11, 2022 onwards. This is post the demerger of non-airports business of GIL into GMR Power and Urban Infrastructure (GPUIL). With GIL, for the first time, investors now have the opportunity to invest in the airport sector in the country.

Axis Bank has executed a maiden domestic trade transaction on Government of India (GOI) backed blockchain platform, Secured Logistics Document Exchange (SLDE). The transaction, between Arcelor Mittal Nippon Steel India and Lalit Pipes & Pipes, involved the process of letter of credit advising as well as digital presentation of underlying trade documents including invoice and transport documents.

Inflame Appliances has received in-principle approval from Telangana Government, Information Technology, Electronics & Communications Department dated January 5, 2022 for allotment of 2 acres of Land at Maheshwaram EMC, Hyderabad, Telangana at Subsidized Price. The company will start further activity on this project immediately and the entire project is expected to be operational within next 180 days. 

Federal Bank’s subsidiary -- Fedbank Financial Services (FedFina) has initiated the process of an initial public offering (IPO). The board of directors of the bank FedFina in a meeting on January 11, 2022, has approved initiating the process of an initial public offering (IPO) by way of fresh issue and offer for sale, Federal Bank said in a regulatory filing. The board approval is subject to market conditions and receipt of applicable approvals, including that of Sebi and other considerations. The size of the IPO, portion of an offer for sale (if any), price and other details with respect to the proposed IPO by FedFina will be determined in due course.