Power Grid Corporation of India has been declared as the successful bidder under Tariff based competitive bidding to establish Inter-State transmission system for the project namely Transmission System for evacuation of power from Rajasthan REZ Phase IV (Part 2: 5.5 GW) (Jaisalmer/ Barmer Complex): Part H1 on build, own operate and transfer (BOOT) basis. The Letter of Intent (LoI) has been received by Power Grid Corporation of India on September 18, 2024.
Nazara Technologies has acquired an additional 19.35% stake in Absolute Sports, the parent company of Sportskeeda, for Rs 145.5 crore, with 50% of the consideration paid in cash and the remaining amount in stock. With this, Nazara now holds a 91% ownership stake in Absolute Sports, solidifying its leadership position in the sports media domain.
Aurobindo Pharma has entered into a binding agreement on September 18, 2024, with GLS Pharma, a subsidiary of the Company and its promoters for acquisition of balance 5,90,361 equity shares of Rs 10 each (49% of GLS Pharma) for a purchase consideration of Rs 22.5 crore. The shares are being acquired at a price of Rs 381.12 per share. GLS will become a wholly owned subsidiary of the Company post the acquisition. The completion of the acquisition is estimated before December 31, 2024.
DMR Hydroengineering & Infrastructures has signed a Memorandum of Understanding (MoU) on September 18, 2024, with Photonics Watertech. The MOU pertains to engaging in trade, services, engineering, execution, solutions, and research activities, which will be conducted mutually on a consortium-basis.
Exicom Tele-Systems has entered into a Loan Agreement with Exicom Power Solutions B.V., Netherlands, a Wholly Owned Subsidiary of the Company. Under this Agreement, an unsecured loan of upto Rs 20 crore will be provided to Exicom Power Solutions B.V., Netherlands (Borrower), in one or more tranches. The purpose of this loan is for the Borrower to infuse the funds in its wholly-owned subsidiaries. These subsidiaries will use the funds to support their primary business activities and to facilitate business growth.
Ion Exchange (India) has been awarded Contracts from Adani Power for Comprehensive & Complete Total Water & Environment Management Solution valued at around Rs 161.19 crore for Process & Utility required of 2 x 800 MW units for Raipur & Raigarh Ultra Super Power Projects. The projects are to be completed within 18 months from Project Award dates.
NTPC has filed for an IPO of its green energy arm, NTPC Green Energy, with an aim to raise approximately $1.2 billion (Rs 10,000 crore). The company focuses on renewable energy projects and hydrogen production.
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