Kalpataru Projects International has informed that it has successfully completed a Qualified Institutions Placement (QIP) of Rs 1,000 cr. This is Company’s first equity raise in over a decade. As per the Company, the capital raise attracted significant interest from domestic mutual funds, foreign investment funds, and insurance companies. Funds are expected to strengthen Kalpataru’s … Read more
The impacted Company is VA Tech Wabag. The order pertains to the proposed 300 mega liters per day seawater desalination plant in Yanbu, Kingdom of Saudi Arabia. VA Tech Wabag said the client notified tender participants this week that the said tender stands cancelled due to some internal administrative procedures. “We are currently in touch … Read more
Sona BLW Precision Forgings (Sona) has entered into an agreement to acquire the Railway Equipment Division (RED) of Escorts Kubota (Escorts). RED of Escorts is a leading supplier of critical components for Railways, such as brakes and suspension systems for various rolling stocks. The division reported revenues of Rs 950 cr in FY 24. In … Read more
Reliance Infrastructure Ltd announced the settlement of Rs 235 crore in dues owed to Edelweiss Asset Reconstruction Company Ltd (Edelweiss), marking another significant development in the company’s debt resolution efforts. The announcement was made through an exchange filing on Wednesday, at the same time the company stated that it had also reached a Rs 600 … Read more
The Reserve Bank of India (RBI) is contemplating a staggered implementation of the increase in provisioning for project financing to soften the blow on lenders and give them ample time to prepare for any impact on profitability. Projects nearing completion may also be given some leeway in provisions, people familiar with RBI’s plans said. Facing … Read more
Adani Group chairman Gautam Adani, 62, plans to step down at the age of 70 and shift control to his sons and their cousins in the early 2030s, he told Bloomberg News in an interview published on Monday. When Adani retires, his four heirs – sons Karan and Jeet, and their cousins Pranav and Sagar … Read more