Bansal Wire Industries has completed the acquisition by purchase of the remaining 23.85% stake in Bansal Steel & Power. Consequent to completion of this acquisition and other closing conditions as mentioned in the Share Purchase Agreement, the company’s shareholding in Bansal Steel & Power has increased from 76.15% (pre-acquisition) to 100% (post-acquisition) and Bansal Steel & Power has become a Wholly Owned Subsidiary of the company with effect from August 8, 2024.
Wipro has entered into partnership with Cyble to enhance enterprise cybersecurity risk management through AI-driven threat intelligence solutions. The partnership brings together Cyble's patented artificial intelligence (AI) systems and automation capabilities with Wipro’s global security and compliance expertise to provide security teams with deeper insights and enable more informed decision-making.
HCL Infosystems has received approval from board of directors to acquire remaining 15% stake i.e. 7500 shares of Pimpri Chinchwad eServices, subsidiary company from INDO Enviro Integrated Solutions at a value of Rs 1 per share. As a result, Pimpri Chinchwad eService will be a wholly owned subsidiary of the Company. The acquisition will likely to be completed by March 31, 2025.
Lumax Industries has received approval for investment of upto Rs 3.47 crore to acquire upto 49% stake in the Equity Share Capital of Clean Max Nabia (the Special Purpose Vehicle (SPV)), for being qualified as Captive User in terms of the provisions of Electricity Act, 2003 and Electricity Rules, 2005, for the solar energy to be generated by the power plant of the SPV for Sanand (Gujarat) Plants of the company. The said acquisition is expected to be completed in approximately 1 month. The Board of Directors, at their Meeting held on August 08, 2024, has inter-alia, considered and approved the same.
Bartronics India has partnered with Augmont Goldtech (Augmont) in a five-year association in order to improvise the accessibility and distribution of Gold and Silver across the country. This collaboration will utilize Bartronics Financial Inclusion Networks and broad distribution channels to market Augmont’s Gold and Silver Bullion and Jewellery. To augment this, the partnership will incorporate the use of the Bartronics Portal, offering consumers direct access to Augmont’s Premium Products.
Paramount Communications has received approval for raising of funds by way of issuance of equity shares and / or other securities convertible into equity shares (including warrants, or otherwise), fully convertible debentures, partly convertible debentures, non-convertible debentures with or without warrants and/ or convertible preference shares or any security convertible into equity shares (collectively Securities) through permissible modes, for an aggregate amount not exceeding Rs 400 crore or an equivalent amount thereof by way of one or more qualified institutions placement (QIP) or through any other permissible mode and/or combination thereof as may be considered appropriate under applicable law. The Board of Directors of the Company at their meeting held on August 8, 2024, has approved the same.
Shriram Finance executed a Master Agreement on August 7, 2024 for extending financial assistance and / or credit facilities for LAP Loans and/or New Commercial Vehicle Loans to eligible borrowers under the scheme of co-lending by way of back-to-back assignments of loans/ loan portfolios in tranches with Axis Bank Limited in accordance with Guidelines issued by the Reserve Bank of India in this regard.
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