GMR Airports Infrastructure, Dixon Technologies and Ahluwalia Contracts to see some action today

10 Sep 2024 Evaluate

GMR Airports Infrastructure has entered into a Share Purchase Agreement (SPA) with Fraport AG Frankfurt Airport Services Worldwide (Fraport), towards acquisition by the company from Fraport, of their current minority 10% equity stake in Delhi International Airport (DIAL), a subsidiary of the Company. The said acquisition would be for a negotiated aggregate consideration of $126 million. The company currently holds 64% of the paid-up capital of DIAL and post the proposed acquisition, its stake in DIAL would increase to 74%. Airports Authority of India (AAI) continues to holds 26% equity stake of DIAL. Post consummation of the Transaction, Fraport’s appointment as the Airport Operator of DIAL shall continue to be governed by the Airport Operator Agreement and/or any other agreement executed in relation to its role as the Airport Operator.

Dixon Technologies’ (India) wholly owned subsidiary -- Padget Electronics has entered into a Memorandum of Understanding (MoU) with HP India Sales to carry out manufacturing of notebooks, desktops and All-in-one PCs, subject to signing of definitive agreements in due course. HP is a leading global provider of personal computing and other digital access devices, imaging and printing products, and related technologies solutions and services.

Ahluwalia Contracts (India) has secured two orders worth Rs 1307 crore. The company has bagged first order worth Rs 1144 crore (Plus GST) from Signatureglobal Business Park for ‘Civil Structure, Part MEP and finishing works for all towers and basements and all other ancillary buildings’ at Project De-luxe DXP, Gurugram. The company has received another order worth Rs 163 crore (Plus GST) from Signatureglobal Homes for ‘Civil Structure, Part MEP and finishing works for all towers and basements and all other ancillary buildings’ at Iconic Tower, Gurugram. Both orders are expected to be completed in 48 months.

Action Construction Equipment has been awarded with a prestigious order from the Ministry of Defence (MoD) for the supply of 99 forklifts. This order demonstrates its efforts under the ‘Make in India’ and ‘AatmaNirbhar Bharat’ initiatives of the Government of India.

Suven Pharmaceuticals’ Wholly Owned Subsidiary -- Casper Pharma’s formulations manufacturing facility has received the Establishment Inspection Report (EIR) from United States Food & Drug Administration (USFDA). The USFDA has categorized the inspection as Voluntary Action Indicated (VAI) and has deemed it as closed under 21 CFR 20.64(d)(3).

Bank of Baroda has successfully raised Rs 5,000 crore through a 10-year infrastructure bond issue, its second such issuance in a short span. The bonds were oversubscribed nearly three times, with the bank securing a competitive pricing of 7.26 per cent.

Awfis Space Solutions (Awfis) has entered into a Business Transfer Agreement with SMS Integrated Facility Services (SMS), for the divestiture of its Facility Management division - Awfis Care for a sale consideration of Rs 27.5 crore. Maple Capital Advisors was the sole advisor to Awfis for this transaction which is expected to be completed within 120 days.

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