Zomato: Antfin Singapore Holdings Pte, a subsidiary of the China-based Ant Group, is reportedly planning to sell up to 2% stake or 17.64 crore shares in the food delivery platform Zomato. The transaction, which is expected to be worth ₹2,800 crore, will be conducted through a block deal, reported CNBC-Awaaz on Tuesday. The block deal’s floor price has been set at ₹159.4 per share, indicating a 4% discount on Zomato’s current market price, as per the report.
Ashoka Buildcon: Canadian pension fund CDPQ is in exclusive negotiations to acquire five operational road projects from Ashoka Concessions Ltd, a subsidiary of the infrastructure firm Ashoka Buildcon. The potential equity and enterprise values for this deal are estimated to be around $325 million and $700 million, respectively, according to individuals familiar with the discussions.
Samvardhana Motherson International: Sumitomo Wiring, a key stakeholder in the automotive firm Samvardhana Motherson, is reportedly planning to sell a 4.5 percent stake through a block deal, reported CNBC-Awaaz on March 5, citing sources. The report indicated that Sumitomo intends to sell approximately 30 crore shares via the block deal.
IIFL Finance: On Tuesday, IIFL Finance sought to alleviate investor worries by asserting that there were no governance shortcomings, following the RBI’s order prohibiting the NBFC from granting any gold-backed loans. Nirmal Jain, the company’s managing director, had clarified in a call with analysts on Tuesday, “We want to state unequivocally that there are no issues related to governance or ethics.
Bharat Heavy Electricals: The state-owned company announced on Tuesday that it has secured an order from NTPC to establish a 1,600 MW thermal power project (Stage-II) in Singrauli. The order’s value exceeds ₹9,500 crore, excluding GST, as per BHEL’s regulatory filing. The engineering firm anticipates completing Unit 1 in 50 months and Unit 2 in 54 months.
Adani Green Energy: The company said on Tuesday that an additional 448.95 MW of solar power projects in Khavda, Gujarat, have been put into operation by two of its fully-owned subsidiaries, Adani Green Energy Twenty Four A Ltd and Adani Green Energy Twenty Four B Ltd. Following the company’s disclosure to the stock exchanges on February 14, 2024, a total of 1,000 MW of solar power projects have been operationalised at Khavda, as per the company’s stock exchange filing.
Coal India: The coal ministry announced on Tuesday that the Gevra mine, managed by Coal India’s subsidiary South Eastern Coalfields Ltd (SECL) in Chhattisgarh, has been granted environmental approval to increase its production capacity to 70 million tonnes annually. At present, Gevra has an annual production capacity of 52.5 million tonnes, making it India’s largest.
Indian Railway Catering and Tourism Corp: Food delivery platform Swiggy announced a collaboration with the Indian Railway Catering and Tourism Corp on Tuesday to provide pre-ordered meals to passengers at four key railway stations in India, thereby joining its competitor, Zomato, in offering this service.
Coforge: IT services company Coforge Ltd revealed on Tuesday that it has forged a multi-year alliance with Carnival UK, the parent organization of P&O Cruises and Cunard. In a statement to the stock exchanges, Coforge said that this partnership with Carnival UK will concentrate on enhancing the Quality Engineering (QE) and Testing competencies of P&O Cruises and Cunard’s two cruise lines across all operational areas.
