Kalpataru Projects concludes Rs 1,000 cr QIP

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

Borosil Group aims for doubling FY25 revenues in 4 yrs

Borosil Group has three listed entities – Borosil Renewables (BRL) – solar glass Borosil (BL) – consumer glassware Borosil Scientific (BSL) – scientific and laboratory glassware In FY 24, BRL reported Rs 1,386 cr of revenues, BL Rs 928 cr and BSL Rs 390 Cr – totalling Rs 2,700 cr revenues for the group. Promoter … Read more

Alberta investment, HDFC Life to invest Rs 667 cr in India Grid Trust

India Grid Trust on Tuesday said Alberta Investment Management Corporation and HDFC Life will invest Rs 567 crore and Rs 100 crore, respectively, in it. According to a statement, India Grid Trust (IndiGrid) announced the launch of its preferential issue process to raise Rs 695 crore following the successful conclusion of the offer-for-sale (OFS). IndiGrid … Read more

Industrials, energy conglomerates see double-digit churn in human capital

As some of India’s big conglomerates in the industrial and energy space see brisk business, they are also witnessing high employee turnover rates, and in double digits, data for FY24 shows. Flagship entities of conglomerates such as Adani, Vedanta, Aditya Birla Group, and Larsen & Toubro (L&T) all have reported a double-digit employee turnover rate … Read more

Gautam Adani plans to cede control to family by early 2030s

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

India China investments: Modi govt may ease curbs on some Chinese investments

India is likely to ease restrictions on Chinese investment in non-sensitive sectors like solar panels and battery manufacturing where New Delhi lacks expertise and which hinders domestic manufacturing, two government sources said. In 2020, India tightened scrutiny on investments from companies based in China due to military tensions in the remote Himalayan border. The government … Read more

Adani at AGM: Well positioned to continue programs with Modi govt now in third term

With Narendra Modi-led National Democratic Alliance voted to power for the third consecutive term, the Adani Group is well-positioned to continue the economic and social programs that have driven “spectacular” journey over the last decade, Gautam Adani said at Adani Enterprises’ Annual General Meeting on Monday. “India is no longer at the crossroads of destiny … Read more

Promoters sell 5.6% equity of Kalpataru Projects

Kalpataru Constructions Private Limited (KCPL) is the selling entity. The stake has been sold at around Rs 1,164/ share totalling Rs 1,053 cr KCPL prior to this stake sale held 13.76% in the company as at March 31, 2024 (out of the total promoter stake of 40.59%) The stake sale was executed to help cut … Read more

RIL, ACME, JSW among 7 bidders for 10 GWh ACC PLI

Seven companies, including Reliance Industries (RIL), ACME Cleantech Solutions Pvt Ltd, JSW Neo Energy Ltd and Waaree Energies, have placed their bids – in a second With tround – for manufacturing advanced chemistry cells (ACC) with a capacity of 10 gigawatt hours under the government’s production linked incentive scheme. The last date for filing applications … Read more