State Bank Of India

HCL Technologies (HCL) has completed acquisition of Cisco’s Self Optimizing Network (SON) Technology. This acquisition, which comprises of products and services built on Cisco’s SON technology, will help HCL meet the growing needs of its customers in the telecommunications industry, which includes tier-one communications service providers globally, by adding the power of Cisco’s SON’s multi-vendor multi-technology and application support to its clients.

State Bank of India (SBI) has raised Rs 5,000 crore by issuing Basel-III compliant bonds. The committee of directors of capital raising met on October 26, 2020 and accorded its approval to allot 50,000 Basel-III compliant non-convertible, taxable debt instruments.

NITCO is planning to open 10-12 new outlets over the next two-three months in Chandigarh, Kolkata, Amritsar, Haryana, Kerala and Tamil Nadu to expand its retail footprint, as real estate and construction will pick up in the coming months. Of these, the size of three will be large, while the remaining ones will be medium or semi-medium sized. The company has opened around 60 stores in the last few years and has 120 active franchisee-run stores in the country.

Muthoot Finance is looking to raise up to Rs 2,000 crore through non-convertible debentures (NCDs) for lending purposes. The base size of the issue is Rs 100 crore with an option to retain oversubscription up to Rs 1,900 crore, aggregating up to Rs 2,000 crore. The issue will augment the company's long term funding requirements, thereby supporting the stable growth that the company envisages. The funds raised through this issue will be utilised primarily for lending activities.

Vedavaag Systems has received a work order for supply, installation and maintenance (for five years) of 1 lakh IOT devices that will be fitted in the public transport (three-wheelers) in the state of Andhra Pradesh. The estimated order value is around Rs 92 crore. This is the pilot phase of ABHAYA Project, Government of Andhra Pradesh as part of the NIRBHAYA Project, an initiative of Government of India.

Great Eastern Shipping Company (GE Shipping) has received approval from its board of director to raise Rs 150 crore by the issuance of 1500 Secured Non-Convertible Debentures (NCDs) having face value of Rs 10 lakh each on private placement. The board of directors at its meeting held on October 26, 2020 has approved the same.

Asian Energy Services has received a Notification of Award (NOA) from Oil and Natural Gas Corporation (ONGC) for 2D Seismic Data Acquisition in PEL, Kangra Mandi in Himachal Pradesh valued at approximately Rs 68.70 crore (inclusive of GST). The company has acknowledged the receipt of this NOA and has confirmed acceptance of the same.