ideaForge Technology Ltd, a pioneer in the UAV industry, said its tactical surveillance drone, Q6 V2 platform, has been assigned a NATO Stock Number (NSN) under the NATO Codification System (NCS). This marks a major achievement for the company, as it enables standardised procurement of the Q6 V2 platform by NATO and allied forces worldwide. Highlighting India’s growing ability to build export-grade unmanned systems that meet global benchmarks in quality, inter-operability, and mission readiness, this codification is a significant strategic leap for India’s indigenous defence manufacturing ecosystem. ideaForges SWITCH UAV is already codified with the NATO Stock Number.
Servotech Renewable Power System said its subsidiary, Hertz and Pixelz Private Ltd (formerly known as Techbec Green Energy Private Ltd), have entered into an agreement to acquire the business operations of Hertz and Pixelz, a proprietorship concern, marking a significant step in expanding into the entertainment and events space, reinforcing its vision of diversifying into industries that thrive on innovation, creativity, and transformative experiences. Pursuant to this transaction, Servotech’s shareholding in the subsidiary will fall from 100 per cent to 51 per cent on a fully diluted basis, effective upon completion of all statutory and contractual formalities.
Rail Vikas Nigam Ltd emerges as the Lowest Bidder (L1) from West Central Railway for “Design/ Modification, Supply, Erection, Testing and Commissioning of 220/132kV/2X25 kV Scott connected Traction Sub Station and switching posts with AT including SCADA work between BINA to RTA section of Bhopal Division of WC Railway to meet 3000MT loading target.” The order value is ₹169.49 crore, including applicable taxes.
The board of Astral Ltd has considered and approved the acquisition of the remaining 20 per cent equity shares of Astral Coatings Pvt Ltd (formerly Know Gem Paints Pvt Ltd) (Astral Coatings) (subsidiary of the company) from the existing shareholder at a consideration of ₹75 crore. With this acquisition, the total equity stake of the company in Astral Coatings has increased from 80 per cent to 100 per cent, making it a wholly-owned subsidiary of the company. Astral Coatings is subsidiary of the company, involved in manufacture, sale and distribution of paints, varnishes, coatings, products related to home decor, industrial paints etc.
Coromandel Engineering Company Ltd has issued a corporate guarantee to RAR Fincare Ltd for ₹1 crore as guarantee for a Business Term Loan availed by Ms Kalaiarasi, relative of the G V Manimaran, Chairman and Managing Director of the company. The said facility is for a period of 36 months (including 6 months of moratorium) and interest payable during moratorium.
Shyam Metalics, one of India’s leading integrated metal producers, has announced a strategic foray into the crash barrier segment, aiming to capture a market share of 8-10 per cent in FY 2025-26. The company has commenced production at its Giridih facility, which houses an annual capacity of 24,000 MTPA and employs over 150 skilled professionals.
Tega Industries, in consortium with funds managed by affiliates of Apollo, has entered into a term sheet to acquire Molycop, a leading global supplier in grinding media for the mining industry, from an affiliate of American Industrial Partners (AIP) at an enterprise value of $1.5 billion. This strategic, complementary acquisition will establish Tega Industries as one of the world’s leading designers and manufacturers of ‘critical-to-operate’ consumables for certain production steps in the mining, mineral processing and material handling industries with an innovative and differentiated product portfolio.
Swelect Energy Systems Ltd., a pioneer in renewable energy solutions, has appointed Dr. Arulkumar Shanmugasundaram as its new Chief Executive Officer and Managing Director. This leadership transition marks a pivotal moment in SWELECT’s growth journey. R. Chellappan will assume the role of Vice-Chairman.
Sattrix Information Security Ltd has received orders from its original equipment manufacturer, Tenable Network Security India Pvt Ltd, for the delivery of Consulting and Professional Services to its Critical & Infrastructure Enterprise Customers. Sattrix will provide Tenable, for the benefit of the End User, with delivery management services on a Time and Material basis.
RRP Defense Ltd will participate in the upcoming East Tech Symposium 2025, to be held from September 19-21 at the Tana Bhagat Indoor Stadium, Ranchi, Jharkhand. East Tech Symposium is a premier platform showcasing industry innovations to Army leaders, whose evaluations will guide future procurements under Special Financial Powers. The event is designed to boost India’s operational readiness by bringing together defence manufacturers, technology providers, and innovators.