The Zomato
With a floor price of ₹265.91 per equity share, Zomato, a food delivery aggregator, launched its ₹8,500 Qualified Institutions Placement (QIP) offering. On November 23, 2024, the business declared that a plan to raise money through a Qualified Institutions Placement (QIP) had been approved by its shareholders. Its board approved a qualified institutions placement (QIP) last month that could raise up to ₹8,500 crore. At this stage, the goal of the fundraiser is to improve the balance sheet.
In response to the recent US indictment of Adani Group founder Gautam Adani in a bribery case, the business is proceeding with its second dollar bond sale in two months in an attempt to attract investor interest in Indian offshore debt. In light of the Adani scandal, the sale, which has the potential to generate up to $500 million, is regarded as a crucial test of the market for Indian high-yield credit globally. Vedanta will have more flexibility thanks to the call options in the notes.
Vernova GE
Grid Equipments Private Ltd, the promoter of power transmission and distribution solution providers, announced an offer for sale (OFS) to sell up to 8.38% of the company's paid-up equity share capital. A floor price of ₹1,550 per share has been established for the offer for sale. 14,000,000 equity shares (5.47% of paid-up equity) will be offered as the base price for the sale, with an additional 7,451,168 shares (2.91%) available for oversubscription, for a total of 21,451,168 shares.
HDFC Life
A data theft event involving client information was revealed by the company. In a stock exchange filing, the company said, "We would like to notify you that we have received communication from an unknown source, who has shared certain data fields of our customers with us, with mala fide intent." HDFC Life has responded by starting an information security evaluation and analyzing data logs to identify the underlying cause of the breach.
BHEL
As part of the Khavda renewable energy zone phase V project, the business announced that it has secured a contract with Hitachi Energy India Ltd. to develop two high voltage direct current (HVDC) terminal stations. Power Grid Corporation of India Ltd. (PGCIL) granted the project, which will make it easier to move renewable energy from Khavda, Gujarat, to Nagpur, Maharashtra.
Grid Power
A state-owned business said that it had been chosen as the winning bidder for the transmission infrastructure needed to evacuate power from a project that would span both Rajasthan and Uttar Pradesh. The award will be carried out on a build, own, operate, and transfer (BOOT) basis and was given out through tariff-based competitive bidding (TBCB). On November 25, 2024, Power Grid received the project's letter of intent (LoI).
According to the corporation, the Income Tax Department has granted it a favorable verdict for the assessment years 2013–14 through 2019–20. The corporation is entitled to a total tax refund of ₹1,945.08 crore, which includes ₹489.22 crore in interest, as a result of the orders issued in response to appeals to the Commissioner of Income Tax (Appeals). The business also stated that in an effort to speed up the refund's issuance, it is actively interacting with tax authorities.
Wipro
Omkar Nisal was appointed CEO of the Europe Strategic Market Unit (SMU) by the IT company, with immediate effect. In addition to joining the Wipro executive board, Nisal will answer to CEO and MD Srini Pallia. Pierre Bruno is stepping down, and Nisal takes his place. London will be Omkar's home base. Since joining Wipro in 2012, Nisal has developed a solid reputation as a client-reliable adviser and assembled top-performing teams that collaborate with customers in a variety of industries to provide outstanding outcomes.
HUL
A major FMCG company declared that its board of directors had given its consent in principle to demerge its ice cream division as a distinct publicly traded company. Following Unilever's intention to split its worldwide ice cream business and subsequent assessments by an impartial panel of HUL directors, which resulted in the separation's announcement in October 2024, the demerger decision was made.
The National Highways Authority of India (NHAI) has awarded a highway developer a letter of award (LoA) for a project worth ₹1,391 crore. Under the hybrid annuity form, the contract entails building a four-lane economic corridor along NH-116A in West Bengal from Bowaichandi to Guskara-Katwa Road (km 89.814 to km 133). The entire project, including the monsoon season, is expected to be finished in 910 days.
First Energies
The business reported that it has received many orders totaling ₹1,087 crore for its subsidiaries, Premier Energies Global Environment Private Ltd, Premier Energies International Private, and Premier Energies Photovoltaic Private. The orders, which total ₹964 crore for solar modules and ₹123 crore for solar cells, were given out by two sizable Independent Power Producers (IPPs) and another customer.
Gulf Oil Lubricants
The business announced that it and Piaggio Vehicles Pvt Ltd had extended their exclusive strategic cooperation arrangement through 2030. The partnership's main goal is to supply Piaggio's small commercial vehicles with high-performance, co-branded lubrication solutions that are suitable for retail, factory-fill, and export markets.
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