State Bank Of India

Oil and Natural Gas Corporation (ONGC) has signed 6 contracts for Discovered Small Fields (DSF) in the Offshore under DSF-III bid round, with 3 each for fields in the Arabian Sea and Bay of Bengal. These include 4 contract areas as sole bidder and 2 contract areas in partnership with Indian Oil Corporation (IOCL). The company has also signed 2 Contracts for Fields under Special CBM Bid round-2021 blocks in Jharkhand and Madhya Pradesh.

Venus Pipes & Tubes, one of the leading manufacturer of stainless pipes and tubes, has become the first Indian company to receive Bureau of Indian Standards (BIS) approval for stainless steel seamless and welded pipes and tubes. This All India First (AIF) Circular has been granted to Rajkot Branch as per IS 17876: 2022 and IS 17875: 2022.

Reliance Industries’ wholly owned subsidiary -- Reliance Petroleum Retail has executed definitive documents to acquire polyester business of Shubhalakshmi Polyesters (SPL) and Shubhlaxmi Polytex (SPTex) for cash consideration of Rs 1,522 crore and Rs 70 crore respectively, aggregating to Rs 1,592 crore by way of slump sale on a going concern basis. The acquisitions are subject to approval of the Competition Commission of India (CCI) and the respective lenders of SPL and SPTex.

Trident has reported 12,679 metric tons production of paper in August, 2022. The company’s bath linen and yarn production stood at 3,091 metric tons and 6,471 metric tons, respectively, while bed linen production stood at 1.93 million metres during August. The company’s chemicals production stood at 9,063 metric tons.

Sunteck Realty has executed a development agreement for development of mixed use residential project at Mira Road, Thane situated in Village Navghar, Taluka Thane and District Thane admeasuring in aggregate around 28,935 square meters (7.25 acres). Further, the execution and registration of the definitive agreements shall be subject to receipt of the statutory approvals from the concerned authorities. 

State Bank of India (SBI) has raised Rs 6,872 crore through the allotment of 7.75% Unsecured, Not Guaranteed, Basel III compliant Additional Tier 1, Taxable, Non-Cumulative, Redeemable, Non-Convertible Bonds on September 09, 2022. The said AT 1 Bond issue is in compliance with SEBI (LODR) Regulations, 2015 and SEBI (ILNCS) Regulations, 2021. 

PVR has planned a meeting of its shareholders and creditors on October 11 to seek their approval for the scheme of merger with rival Inox Leisure. This comes after the Mumbai bench of the National Company Law Tribunal (NCLT) on August 22 directed PVR to call a meeting.