Vedanta is the top bidder for debt-ridden Jaiprakash Associates. It emerged H1, tipping Adani, with its bid having a net present value of ₹12,505 crore. If its resolution plans go through, the mining moghul’s conglomerate would end up with a 24 per cent stake in Jaiprakash Power. Mining mogul Anil Agarwal’s Vedanta Ltd is eyeing full control of Jaiprakash Power Ventures Ltd (JPVL), the profit-making power arm of debt-laden Jaiprakash Associates Ltd (JAL). The metals-to-mining conglomerate is preparing to weigh in on a possible auction for additional stakes in JPVL, in a move that could set the stage for what market observers describe as a potentially hostile takeover.
LJIN Electronics India Pvt Ltd, a material subsidiary and Electronics division of Amber Group, announced that it has ₹1,200 crore in strategic funding, through separate definitive agreements with prominent investors, ChrysCapital and InCred Growth Partners Fund I, along with their respective affiliates. PE firm ChrysCapital will invest ₹1,100 crore and InCred PE will invest ₹100 crore in the form of equity shares and compulsory convertible preference shares. The transaction is subject to regulatory approval.
Bharat Heavy Electricals Limited (BHEL) has entered into a long-term exclusive MOU with Horizon Fuel Cell Technologies Pte Ltd, Singapore for Hydrogen Fuel Cell-Based Rolling Stock. The partnership will focus on business sharing and marks BHEL’s entry into the hydrogen transportation segment.
Kaynes Technology India Limited today announced the successful integration of the core team behind Mustard Smartglasses, a pioneering force in AI-powered, waveguide-based smart wearable technology. This strategic move marks a significant leap in Kaynes’ ambition to lead in advanced design and emerging technology for consumer and enterprise markets through strong ODM/OEM partnerships.
Ceigall India Ltd has received a Letters of Intent for Procurement of Solar Power under Mukhyamantri Saur Krushi Vahini Yojana 2.0 for 147 MW and For 190 MW from Maharashtra State Electricity Distribution Co. Ltd (MSEDCL), through tariff-based competitive bid for setting up of grid connecting solar power projects at multiple locations in Maharashtra.
Max Estates Ltd (Max Estates), a leading real estate developer in the NCR, has announced a deal that secures the development rights to a prime land parcel measuring 7.25 acre at Gurugram, on the Golf Course Extension Road, one of the NCR’s most sought after residential corridors. The project has a development potential of about 1.3 million sq. ft. with an expected outlay of ₹534 crore and is expected to generate a booking value of more than ₹3,000 crore, reinforcing Max Estates’ position as a developer of choice for luxury residential communities in Delhi NCR.
Brigade Enterprises Ltd has executed and registered a Joint Development Agreement with the land owner for 10.75 acres of land in East Bengaluru for a residential project. This project will have a total saleable area potential of 2.5 million square feet and an estimated gross development value of around ₹2,500 crore.
Pharmaids Pharmaceuticals Ltd has registered the sale deeds for immovable properties at Hirehalli Industrial Area, Uradegere Hobli, Tumkur Taluk and District. The consideration received from the sale of these properties ₹19.56 crore.
Imagicaaworld Entertainment Ltd has executed a Business Transfer Agreement with Giriraj Enterprises and/or its partners, for the purchase of a Solar Power Plant of 6.65 MW at Mandrup, Solapur, Maharashtra owned by Giriraj Enterprises on a slump sale basis on going concern basis at a purchase consideration of ₹16 crore. The shareholders’ approval for the above transaction was received on March 13.
Colab Platforms Ltd, a diversified technology platform listed on BSE, has announced that it has signed a non-binding term sheet to acquire a majority 51 per cent stake in Indiaoneonline, a rapidly growing digital platforms and technology services company. Colab Platforms will leverage IndiaOne’s product-led technology expertise with its own capital strength, market access and organisational capabilities to rapidly scale in one of the world’s fastest-growing technology markets.
Patel Chem Specialities Ltd has informed the exchanges that the Ministry of Environment, Forest and Climate Change has Granted Environmental Clearance (EC) for the proposed project at Indrad Plant, Mehsana, Gujarat.
Aegis Logistics has announced the proposed new capacity addition being undertaken at Pirpau (near old Pirpau berth) situated at Mumbai Port at an outlay of ₹99.88 crore. The new capacity addition will enable the company to meet both current and future demands from existing as well as new customers and also ease the load on the existing liquid storage facilities of the company at Mumbai. The capacity addition will also reinforce operational resilience and enhance our competitive positioning.
SAR Televenture Limited is pleased to announce the signing of a Share Purchase Agreement (SPA) with L&T Finance Limited for the acquisition of its 19.93 per cent stake in Tikona Infinite Private Ltd for ₹149.50 crore. This acquisition will further consolidate SAR Televenture’s shareholding in Tikona, reinforcing its long-term strategic vision and commitment to the broadband and digital infrastructure sector. Under the terms of the SPA and subject to necessary regulatory approvals, ₹30 crore will be paid upfront, with the balance consideration being settled through a share swap, at the same price offered under the earlier SPA executed with the majority shareholders of Tikona.