RITES, ICICI Prudential Life Insurance and Choice International to see some action today

RITES has received order from Karnataka Mining Environment Restoration Corporation for Construction of Railway PFT’s at Dharmapura and Susheel Nagar in Ballari District under CEPMIZ for KMERC, was earlier awarded on Project Management Consultancy (PMC) basis has now been converted into turnkey basis. Broad consideration or size of the order is Rs 453.99 crore excluding GST (including Project Management Consultancy fee).

ICICI Prudential Life Insurance Company has received approval for Issuance of NCDs in the nature of subordinated debt instruments aggregating upto Rs 14 billion as per SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 and IRDAI (Registration, Capital Structure, Transfer of Shares and Amalgamation of Insurers) Regulations, 2024 and other applicable regulations. The Board of Directors of the company at their meeting held on October 22, 2024, inter alia, has approved the same. 

Choice International’s NBFC arm -- Choice Finserv is all set to acquire retail lending business of Paisabuddy Finance and Sureworth Financial Services. This strategic move significantly expands Choice Finserv's presence in the retail loan segments as well its assets under management (AUM). These acquisitions will be done under a slump sale transaction which will be subject to requisite approvals. 

Reliance Infrastructure is setting up the largest Integrated project for Manufacturing of Explosives, Ammunition and Small Arms in Ratnagiri, Maharashtra. The company has been allotted 1000 acres of Land in Watad Industrial Area of Ratnagiri, Maharashtra to develop Dhirubhai Ambani Defence City (DADC). DADC will be the largest Greenfield project in Defence Sector in India by any Private Sector company.

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 Ph -IV (Part-3: 6 GW) [Bikaner complex]: Part B” on build, own, operate and transfer (BOOT) basis. The Letter of Intent (LoI) has been received by Power Grid Corporation of India on October 21, 2024.

Triveni Engineering & Industries has launched premium and super premium whisky brands: Matsya Triple Reserve Blended Whisky and The Crafters Stamp Rare Artisan Blended Whisky, respectively in Uttar Pradesh to enter into the Indian-Made Foreign Liquor (IMFL) market. Priced at Rs 690 for a 750 ml bottle, Matsya Triple Reserve Blended Whisky is tailored for Gen Z, while The Crafters Stamp Rare Artisan Blended Whisky, priced at Rs 950 for a 750 ml bottle, is aimed at Millennials. 

Sonata Software has announced that it has been selected as a strategic managed services partner for a Fortune 500 manufacturer of consumer goods and industrial products. Under the multi-year deal win, Sonata Software will deliver a reliable and scalable operating model that will support the company's global business growth and its ongoing digital transformation journey. For more than 50 years, the Fortune 500 company has partnered with customers to develop, design, and manufacture innovative packaging products with an eye toward the circular economy. Over the years, the company has expanded through multiple acquisitions, strengthening its market presence. In a first-of-its-kind initiative, the client is partnering with Sonata Software to modernize its operations and deliver a homogenous, unified user experience at scale. Powered by AI, the collaboration will leverage industry best practices to drive operational efficiencies and profitable return on investment.