PSP Projects

Adani Infra (India), the PMC subsidiary of Adani Group, has signed definitive agreements to acquire up to a 30.07% stake in PSP Projects from the existing promoter, Prahladbhai S Patel, for Rs 685.4 crore. Currently, Prahladbhai S Patel and his family own a 60.14% stake in the company. Adani Infra has also announced an open offer to buy up to an additional 26% stake in PSP at a price of Rs 642.06 per share, for Rs 661.8 crore.

Tata Power Company

The company has entered into a strategic partnership with Druk Green Power Corporation (the sole generation utility of Bhutan) to collaborate and develop at least 5,000 MW of clean energy generation capacity in Bhutan. The projects include 2,000 MW of hydro, 2,500 MW of pumped storage, and 500 MW of solar capacities.

Dr Reddy’s Laboratories

The United States Food and Drug Administration (USFDA) completed a Good Manufacturing Practices (GMP) inspection at the company’s API manufacturing facility (CTO-2) in Bollaram, Hyderabad. The inspection was conducted from November 13 to 19. The US health regulator issued a Form 483 with seven observations.

JSW Steel

The company has been declared the preferred bidder for Codli Mineral Block XII, located in Dharbandora, Goa, in an auction held on November 12. The projected iron ore resources stand at 48.5 million tonnes, in addition to 2.7 million tonnes of ore in dumps. Meanwhile, the company’s subsidiary, JSW Steel Italy Srl, signed a commercial agreement with Metinvest Adria S.p.A. As per the agreement, Metinvest is required to pay a release fee of euro 30 million to JSW Steel Italy Piombino SpA for the transaction.

Aegis Logistics

The company’s subsidiary, Aegis Vopak Terminals, has filed a draft red herring prospectus with the capital markets regulator to raise Rs 3,500 crore via an initial public offering (IPO). It is an entirely fresh issue with no offer-for-sale component.

Garden Reach Shipbuilders & Engineers

The company has signed a contract worth Rs 226.2 crore with the Transport Department of the Government of West Bengal for the delivery of 13 hybrid ferries. These ferries will operate on the River Hooghly under the West Bengal Transport Infrastructure Development Corporation.

NLC India

The company will invest up to Rs 3,720 crore, in one or more tranches, for various renewable projects and acquire a stake by subscribing to equity shares of NLC India Renewables, as part of its asset monetization plan. The renewable energy assets currently on NLC’s books were valued at Rs 6,263 crore as of September 2024.

Aditya Birla Capital

The company has invested Rs 100 crore on a rights basis in Aditya Birla Capital Digital. Following this investment, there is no change in the percentage shareholding of Aditya Birla Capital, and Aditya Birla Capital Digital continues to be a wholly owned subsidiary of the company.

Power Grid Corporation of India

The company has acquired Khavda V-A Power Transmission from the bid process coordinator, REC Power Development and Consultancy, for Rs 18.9 crore. Khavda V-A Power Transmission is the project Special Purpose Vehicle (SPV) formed to establish a transmission system for the evacuation of power from the potential renewable energy zone in the Khavda area of Gujarat on a build, own, operate, and transfer (BOOT) basis.

Godfrey Phillips India

The company has declared an interim dividend of Rs 35 per equity share for the financial year ending March 2025. November 29 has been fixed as the record date for determining the entitlement of shareholders for the interim dividend.

Varun Beverages

The company has raised Rs 7,500 crore via a Qualified Institutions Placement (QIP) issue. The board has approved the allotment of 13.27 crore equity shares to eligible qualified institutional buyers at an issue price of Rs 565 per share.

UPL

Agricultural solutions provider UPL and global investment firm Alpha Wave Global have signed definitive agreements. As per the agreements, Alpha Wave Global will invest $350 million to acquire approximately a 12.5% stake in seed company Advanta Enterprises, a subsidiary of UPL. The transaction consists of a primary investment of $100 million and a secondary sale of $250 million worth of shares in Advanta by UPL.

RITES

The transport infrastructure consultancy has signed a Memorandum of Understanding (MoU) with the National Institute of Solar Energy (NISE) to collaborate on quality assurance (QA) services for solar and renewable energy projects.

SIS

The Board will meet on November 25 to consider a proposal for fund-raising via a debt issue in the form of debentures.

Suditi Industries

The textile and garment manufacturing company has announced the acquisition of the children's wear brand Gini & Jony. Suditi plans to transform Gini & Jony into a dominant player in the kidswear market through an omni-channel strategy, including exclusive brand outlets (EBOs), large format stores (LFS), and e-commerce platforms.

Kilburn Engineering

The company has entered into a share purchase agreement for the acquisition of Monga Strayfield, an engineering company that manufactures radio frequency dryers and heating solutions, for Rs 123 crore.

Jagsonpal Pharmaceuticals

The company has received full consideration of Rs 41 crore for the sale of its Faridabad facility.

TCI Express

HDFC Mutual Fund acquired a 0.26% stake in the company via open market transactions on November 14, raising its total stake to 5.15%, up from 4.89% previously.

20 Microns

The company has incorporated a joint venture, Sievert 20 Microns Building Materials, to engage in the production of construction chemicals and building material-related products.

Strides Pharma Science

The company has received approval from the National Company Law Tribunal (NCLT) for the creation of OneSource, India’s first specialty pharma Contract Development and Manufacturing Organization (CDMO). This integration is backed by an equity commitment of Rs 801 crore ($95 million) from a group of investors, valuing the company at a pre-money equity valuation of $1.65 billion, and positions OneSource for robust growth. OneSource is now set to list its equity shares on the BSE and NSE. Strides' shareholders will be allotted one equity share of OneSource for every two equity shares held in Strides, as per the Scheme of Arrangement.

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