Adani Ports, PNB and KP Energy to see some action today

Adani Ports and Special Economic Zone (APSEZ), India’s largest ports and logistics company, has entered into a definitive agreement to purchase the 56% stake of the SP Group and 39% of Orissa Stevedores Limited (OSL) in Gopalpur Port (GPL). The acquisition is made at an enterprise value of Rs 3,080 crore, and the transaction is subject to statutory approvals and fulfilment of other conditions precedents. 

Punjab National Bank (PNB) has raised Rs 1859 crore through the allotment of 8.47% Unsecured, subordinated, non-convertible, fully paid-up, perpetual, taxable, Basel Ill compliant bonds on private placement basis. The non-convertible taxable bonds will qualify as Additional Tier I capital.  

KP Energy has successfully commissioned further 16.8MW (Phase-VIII) ISTS connected Wind Power Project comprising 8 numbers of WTGs of 2.1MW each at Sidhpur site in Devbhoomi Dwarka. This Phase-VIII commissioning is a part of the 250.8MW ISTS connected Wind Power Project capacity awarded to Apraava Energy by Solar Energy Corporation of India (SECI) under Tranche-VIII bidding. KP Energy is developing the Project for Apraava Energy as a Contractor under the Land and Balance of Plant Contract.

Universal Cables’ board has approved additional capital expenditure for augmenting the production capacity of XLPE Insulated Medium Voltage Power Cables through debottlenecking at the company's manufacturing facility at Satna, Madhya Pradesh. Post debottlenecking, the production capacity shall stand increased by approximately 1500 KMs per annum. The envisaged enhanced capacity is likely to be fully operational by March 2025.

Maruti Suzuki India has planned to acquire an equity stake of 6.44% in Amlgo Labs. Amlgo Labs is an Advanced Analytics, Machine Learning (ML) /Artificial Intelligence (AI) and Big Data Solutions Implementation company. 

Rail Vikas Nigam (RVNL) has signed memorandum of understanding (MoU) with Airports Authority of India (AAI) for Construction of Subway/Underpass to connect operational area to the Airport Authority of India residential colony in Kolkata. The estimated cost of the project is Rs 229.43 crore (including GST).

Hindustan Aeronautics (HAL) has signed a contract with Guyana Defence Force (GDF), Government of Guyana, for supply of two Hindustan-228 commuter aircraft along with Manufacturer Recommended List of Spares (MRLS), Ground Handling Equipment/Ground Support Equipment, Training, Hand-holding at a total value of MUSD 23.37 (approximately Rs 194 crore).