GRE Renew Enertech has received one EPC order aggregating to Rs 17.75 crore in the ordinary course of its business operations. The order pertains to the turnkey EPC execution of a 5.2416 MW (DC) / 3.90 MW (AC) grid-connected ground-mounted solar power project, including associated transmission infrastructure.
Bharat Petroleum Corporation (BPCL) has acquired Videocon's remaining stake in Brazilian joint venture IBV Brasil Petroleo, taking full ownership of the company as it seeks to expand its overseas upstream portfolio and strengthen long-term energy supplies. The acquisition, completed through BPCL's upstream arm Bharat PetroResources (BPRL) and its step-down subsidiaries, increases BPRL's stake in IBV to 100 per cent from 65.4 per cent, making the Brazilian company its wholly-owned subsidiary.
Adani Enterprises (AEL) and International Resources Holding (IRH), the Abu Dhabi-based natural resources investment platform and an IHC Group company through 2PointZero, have signed a Memorandum of Understanding (MoU) with the Government of Odisha to develop an integrated greenfield aluminium project in the mineral-rich state. AEL and IHC, through its subsidiary IRH, will form a 50:50 joint venture for the proposed project. The proposed investment, valued at around Rs 1.08 lakh crore ($11.5 billion), is likely to be Odisha's largest Foreign Direct Investment (FDI) proposal and India's largest foreign direct investment in the metallurgy sector. The project comprises a 4 million metric tonnes per annum (MMTPA) alumina refinery, a 2 MMTPA aluminium smelter, a 4,000-megawatt (MW) captive power plant and a 1 MMTPA downstream manufacturing park, supported by enabling infrastructure.
Sterlite Technologies (STL) has raised Rs 1500 crore through a Qualified Institutions Placement (QIP). The entire process saw participation by reputed domestic and global investors including Motilal Oswal, Nomura, HSBC, Bank of India, Oxbow, Think Investments, Bandhan and Manulife, among others. The proceeds from the QIP will be primarily utilized to substantially de-leverage the company's balance sheet, significantly enhancing financial strength while creating a robust platform to fund the next phase of STL's growth.
Titagarh Rail Systems (TRSL) has entered into a Strategic Collaboration Agreement with TuTr Hyperloop, a technology company specialising in Hyperloop propulsion and advanced mobility technologies. The collaboration aims to develop first-of-its-kind Hyperloop technology enabled freight transportation solutions from India. This strategic collaboration brings together TRSL’s proven expertise in the design, engineering and manufacturing of rolling stock with TuTr Hyperloop’s capabilities in Hyperloop propulsion, control systems and advanced mobility technologies. Together, the two companies will evaluate, design, develop, integrate and explore the commercialisation of high-speed, energy-efficient freight transportation systems aligned with future logistics and infrastructure needs.
BLS E-Services has successfully acquired 100% stake in Atyati Technologies, a Bengaluru based AI-powered banking technology company providing digital solutions to banks and financial institutions across India, for a purchase consideration of around Rs 157 crore in an all-cash transaction. The acquisition strengthens BLSe's position as a technology-led financial services platform by adding Atyati's advanced banking technology capabilities, expanding its CSP network, and enhancing its ability to provide AI-driven banking and financial inclusion solutions to banks and customers nationwide.
Chiraharit has received a purchase order from VSL Green Power for supply and services for Solar Cell and Solar Module Manufacturing Facility. Broad consideration or size of the order(s)/contract(s) is Rs 4.49 crore.
