The board of Coal India has approved the divestment of up to a 25 per cent stake in South Eastern Coalfields through an offer for sale (OFS), along with the issuance of fresh equity shares aggregating up to a 10 per cent stake in one or more tranches via an initial public offering (IPO). Additionally, the board has given in-principle approval for the divestment of up to a 25 per cent stake in Mahanadi Coalfields through an offer for sale in one or more tranches via an IPO and/or other permissible market routes in the domestic market.
The board of Dredging Corporation of India has appointed S Divakar as Managing Director and Chief Executive Officer (Additional Director – Executive and Non-Independent) and Key Managerial Personnel (KMP) of the company.
Persistent Systems has announced the appointment of Ruchi Kulhari as Executive Vice President – Enterprise Strategy & Execution. The appointment comes as Persistent continues to scale its global operations and deepen its focus on AI-led, platform-driven services. This role is designed to strengthen enterprise execution, enhance leadership alignment and support the effective translation of strategy into outcomes across the organisation.
Wipro Ltd has announced the expansion of its business operations in South Korea, reinforcing the country’s position as a strategic growth market. The expansion includes an enlarged office footprint in Seoul, the launch of a new Innovation Lab, as part of the Wipro Innovation Network (WIN), and continued investment in local talent to support South Korean clients locally and globally.
DCX Systems Limited has received purchase order(s) from its domestic and international customers amounting to about Rs 14 crore for the manufacture and supply of Cable and Wire Harness Assemblies.
Indian Railway Finance Corporation Limited (IRFC) has signed a major Rupee Term Loan agreement with Hindustan Urvarak and Rasayan Ltd (HURL) to refinance its existing long-term debt up to Rs 12,842 crore. This transaction represents one of IRFC’s largest refinancing initiatives.
The Board of Directors of GOCL Corporation Limited has approved early monetisation of the Company’s land situated at Yelahanka, Bengaluru, known as the ‘ecopolis’ project. The project comprises approximately 38 acres of land under a joint development agreement (JDA) with Hinduja Realty Ventures Limited (’HRVL’). The project is in the process of getting de-notified from the SEZ purview.
Coral Laboratories Limited has successfully completed the expansion of the General Pharmaceuticals Formulation (Ointment) unit at the Dehradun plant to 360,000 kgs. The company has commenced commercial operations at the expanded facility.
Balkrishna Industries Limited’s Finance Committee approved issuance of 75,000 rated, listed, unsecured, redeemable non-convertible debentures of Rs 1 lakh face value each, aggregating Rs 750 crore across three series: Series I: 3-year tenure (allotment March 23; maturity March 23, 2029) at 7.20% p.a; Series II: 4-year tenure (maturity March 22, 2030) at 7.38% p.a; and Series III: 5-year tenure (maturity March 21, 2031) at 7.55% p.a.
Hindustan Foods Limited has entered into a Business Transfer Agreement to acquire the Business Undertaking of Ultra Beauty Care Private Limited. The undertaking, located in Aurangabad, Maharashtra, is engaged in contract manufacturing of a comprehensive range of ayurvedic, herbal, beauty care, and cosmetic products. It manufactures for large FMCG companies and also certain D2C players in the Beauty and Cosmetic segment.
RCCPL Private Ltd, a wholly owned subsidiary of Birla Corporation Limited, on Monday commissioned the third production line at its Kundanganj unit, scaling up production capacity by 1.4 million tons (mt). Post this expansion, Birla Corporation Limited’s consolidated production capacity stands at 21.4 mt, and, as announced by the Company earlier, it is to be further expanded to 27.6 mt by 2028-29. The estimated cost of the Kundanganj expansion is around Rs 300 crore. The 1.4-mt increase in grinding capacity is expected to create close to 100,000 direct and indirect jobs and strengthen Birla Corporation Limited’s competitiveness in its core markets in central and eastern Uttar Pradesh. Additional clinker is to be sourced from the Company’s integrated units at Satna, Chanderia and Mukutban.
The board of SEPC has approved acquiring 90% stake in Avenir International Engineers and Consultants LLC, Abu Dhabi, for 90% of AED 708 million (Rs 1,530 crore) via share swap, subject to lender and shareholder approvals. Avenir, established in 2007, specialises in oil & gas engineering, FEED, and PMC services across the MENA region with a 2024 turnover of AED 73.93 million (Rs 171.89 crore). Order book exceeds AED 500 million.
Panorama Studios Inflight has executed an Assignment Agreement with Indywood Distribution Network to exploit the Airborne Rights (on an exclusive basis) worldwide, including India, for the cinematographic works “Apoorva Puthranmar” and “Parannu Parannu Parannu Chellan”.
Hind Rectifiers Limited, a leading manufacturer of Power Semiconductors, Power Electronic Equipment and Railway Transportation Systems, has announced the appointment of Mr Chidambaram Balakrishnan os ChiefGlobal Growth Officer of the Company.
GR Infraprojects has secured a Letter of Award from the National Highways Authority of India for a highway project worth Rs 2440.87 crore for the construction of a four-lane greenfield section of NH-33 in Bihar. The order must be completed within 910 days under the Hybrid Annuity Mode.