Vodafone-Idea: Cash-strapped private telecom operator, Vodafone-Idea, on Tuesday saw its board approve a ₹45,000-crore fund raising initiative—including a ₹20,000 crore equity-based fund raise from existing investors. A shareholder meet for the fund raise is expected to take place on 2 April, post which the operator expects to complete the equity fund raise by the end of the upcoming June quarter.
CMS Info Systems: In what could be one of its most successful exits from India, global private equity firm Baring Private Equity Asia through its affiliate Sion Investment Holdings, completely exited its stake in leading cash management solutions provider CMS Info Systems. The company offloaded its remaining 26.7% holding, or 41.77 million shares, through a block deal on Tuesday.
Zee Entertainment Enterprises: The board of directors of Zee Entertainment Enterprises (ZEEL) has expanded and strengthened the role of the independent advisory committee set up last week to review and examine all allegations raised by the regulatory agencies against the company, its promoters and key managerial personnel through a deep-dive exercise. The committee will take necessary measures to investigate the allegations, with the sole interest to protect the rights of the company’s shareholders and other stakeholders, ZEEL said in a statement on Tuesday.
Patanjali Foods: The Supreme Court on Tuesday served a contempt notice to Ramdev-owned Patanjali Ayurved and its managing director Acharya Balakrishna for issuing misleading advertisements about health cures in violation of an earlier order. The apex also court barred Patanjali from promoting products claimed to cure diseases such as heart ailments and asthma.
Hindustan Zinc: Vedanta Group firm Hindustan Zinc on Tuesday announced the formation of a new subsidiary Hindmetal Exploration Services Pvt Ltd, with an aim to lead the company’s foray into strategic mineral exploration and diversification of its portfolio. “…The company has incorporated Hindmetal Exploration Services Private Limited, a wholly-owned subsidiary of Hindustan Zinc Ltd, with an objective to explore, discover, develop and tap mineral resources,” Hindustan Zinc said in a regulatory filing.
Texmaco Rail & Engineering: The flagship company of the Adventz Group, Texmaco Rail & Engineering, on Tuesday said its board of directors has approved plans to raise up to ₹150 crore through a preferential issue of convertible warrants to its promoters and promoter groups. The board has authorised its Capital Issue Committee to finalise the structure, terms, and conditions of the issuance, as well as other related matters.
JSW Energy: The company on Tuesday announced that its arm, JSW Neo Energy, has secured a Letter of Award (LoA) from SJVN Ltd for a solar capacity project of 700 MW that will be connected to the interstate transmission system (ISTS). This LoA has been received against a tariff-based competitive bid invited for setting up 1,500 MW ISTS-connected solar power projects, JSW said in a filing to the stock exchanges. With this order, the company’s total locked-in capacity increases to 11 GW comprising 1.4 GW of solar capacity.
Tata Elxsi: Tata Elxsi and Telefónica have implemented a cloud-native infrastructure management system powered by ETSI Open-Source MANO (ETSI OSM). These advancements mark a new phase in the evolution of telco-cloud technologies and signify a commitment to driving digital transformation across the telecommunications industry.
