Dev Information Technology (DEV IT) has secured order from Gujarat State Fertilizers & Chemicals (GSFC), a key undertaking of the Gujarat Government. The Rs 97 lakh order represents a major milestone in its ongoing mission to deliver technology solutions across diverse sectors. Securing this contract from a government entity not only strengthens its portfolio but also opens the door to further government partnerships in the future.
RMC Switchgears’ subsidiary -- RMC Green Energy has secured approval from the Rajasthan Renewable Energy Corporation to establish a 50 MW Renewable Energy Park in Rajasthan under the Rajasthan Renewable Energy Policy 2023. This milestone further cements the parent company's entry into the Solar Park business, operating as a renewable IPP (Independent Power Producer). RMC is actively pursuing additional tenders exceeding 600 MWp and is engaging with both public and private sector entities to achieve the ambitious goal of securing 1 GWp in EPC contracts over the next 18 months. By collaborating with installation and commissioning experts across multiple states and leveraging their in-house team of skilled designers and supervisors, RMC is positioning itself at the forefront of the green energy revolution.
Exide Industries has invested Rs 74.99 crore by way of subscription in the equity share capital of its wholly owned subsidiary --‘Exide Energy Solutions’ (EESL), on rights basis. With this investment, the total investment made by the Company in EESL stands to Rs 2,652.24 crore. There is no change in the shareholding percentage of the Company in EESL pursuant to such an acquisition.
Petronet LNG (PLL) has entered into a Memorandum of Understanding (MoU) with LTL Holdings (LTL) of Sri Lanka on August 20, 2024 at Colombo, Sri Lanka for supply of LNG to LTL’s dual fuelled Power Plant(s) in Kerawalapitiya, Colombo. Both parties, through this MoU, have agreed for development of LNG supply chain from PLL’s LNG terminal, Kochi to LTL’s Power Plant(s) in Kerawalapitiya, Colombo in a time bound manner.
CESC’s subsidiary -- Purvah Green Power has incorporated a wholly owned subsidiary (WOS) Company named Ecofusion Power (EPPL) on August 19, 2024. EPPL will explore opportunity in renewable power sector. EPPL has been incorporated as a WOS of Purvah. Accordingly, 100% of its shareholding is held by Purvah.
Prism Johnson has completed the modernisation of its tile production plant situated at Vijaywada, Andhra Pradesh to manufacture higher value product, ahead of schedule. The total tile production capacity of H & R Johnson (India) (HRJ) Division of the Company (along with the joint ventures) will change from around 67 million square meter p.a. previously to around 64 million square meter p.a. The reduction in annual tile production capacity would not have any adverse impact on overall sales of HRJ Division of the Company.
Updater Services (UDS) has increased the investment in Denave India, Material subsidiary company from 67.27% to 89.57% by acquiring 37,48,614 equity shares from its promoters and other shareholders. The Subsidiary of UDS, Matrix Business Services India holds 10.43% in Denave. Further to the acquisition, the post shareholding percentage in Denave of UDS along with its subsidiary, Matrix Business Services India, is 100%.
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