AU Small Finance Bank has issued a press release announcing the launch of its Sustainable Finance Framework (SFF), which has received an independent Second-Party Opinion from Moody’s Ratings, with an SQS2 (Very Good) Sustainability Quality Score. The Framework establishes a structured approach for mobilising and deploying capital towards eligible green and social projects, including renewable energy, clean transportation, green buildings, financial inclusion, affordable housing, MSME development, healthcare and education.
Adani Power wins GVK Energy resolution process
Adani Power Ltd has been declared the successful resolution applicant for GVK Energy Limited (GVKEL) after the Committee of Creditors (CoC) approved its resolution plan under the Corporate Insolvency Resolution Process (CIRP). GVK Energy owns and operates a 330 MW hydroelectric power plant in Uttarakhand through its subsidiary, Alaknanda Hydro Power Company Limited.
udaan acquires Swiggy’s LYNK Logistics
udaan, India’s leading business-to-business e-commerce platform, has acquired LYNK Logistics Ltd, Swiggy’s wholly owned retail distribution arm, for ₹500 crore. The deal will be settled through preference equity shares issued to Swiggy in Trustroot Internet Pvt Ltd, udaan’s parent entity, giving Swiggy approximately a 2.8 per cent stake in udaan. Swiggy will also make a fresh primary equity investment of ₹75 crore for an additional 0.4 per cent stake.
GE Vernova T&D India bags major HVDC project bid
GE Vernova T&D India Limited (formerly known as GE T&D India Limited) has announced that it has been designated as the L1 bidder by Power Grid Corporation of India Ltd for a major infrastructure project. The domestic contract entails the design, supply, and execution of a 6000 MW ±800 kV High Voltage Direct Current (HVDC) LCC Terminal Station (2×3000 MW) for the evacuation of renewable power from Barmer II to South Kalamb. The project will be executed over a multi-year period as part of the company’s normal course of business, with no related-party interests involved.
Arisinfra subsidiary secures Bengaluru residential project
Arisinfra Solutions Ltd has announced that its subsidiary, Arisunitern RE Solutions Pvt Ltd, has secured a Service Order to provide Development-as-a-Service (DaaS) for a residential project in Bengaluru. Entity Awarding Contract: O2 Spaces (a partnership firm under the Vaishnavi Residences Group). Project Name & Location: “Morning Mist,” a residential apartment project in Whitefield, Bengaluru.
Mankind Pharma subsidiary gets liquidation approval
Shareholders of Bharat Serums and Vaccines Ltd, a wholly-owned subsidiary of Mankind Pharma, have approved its voluntary liquidation at an EGM as part of a strategic corporate restructuring to integrate operations into the parent company. The liquidation remains contingent on obtaining necessary creditor consent under the Insolvency and Bankruptcy Code, 2016.
REC issues India’s first pilot tokenised corporate bonds
REC, a Maharatna Central Public Sector Enterprise (CPSE) under the Ministry of Power and a leading NBFC-IFC, has issued India’s First Pilot Issue on Tokenised Corporate Bonds under the Securities and Exchange Board of India (SEBI) Regulatory Sandbox Framework. The size of the pilot issue was Rs 500 crore (a base issue of Rs 100 crore with a green shoe option of Rs 400 crore), and bidding was undertaken on the EBP platform of the National Stock Exchange of India Limited (NSE).
Neuland Laboratories approves Rs 126 crore land purchase
Neuland Laboratories Ltd has approved ₹126 crore in capital expenditure for the purchase of approximately 134 acres of land at Auro Industrial City in Kakinada, Andhra Pradesh. Neuland Laboratories also has a right of first refusal to purchase an additional contiguous land parcel of approximately 66 acres at a later date. If acquired, the potential aggregate land parcel at the location would increase to approximately 200 acres.
Tembo Global signs ammunition production MoU
Tembo Global Industries Ltd, a prominent player in the industrial sector with expertise across engineering mechanics, design load calculations, drawings, specifications, manufacturing, supply and project execution, and operations spanning sectors including oil & gas, chemicals, construction, power, shipbuilding, nuclear power, HVAC, anti-vibration systems, defence, and various industrial, commercial, utility and OEM installations, has announced that its subsidiary Tembo Classic Engineering Pvt. Ltd. has entered into a Memorandum of Understanding (MOU) with Lachaussee SA, Belgium, for the establishment of a complete production line for two types of ammunition in India. Under the proposed partnership, Lachaussee SA and Tembo Classic Engineering Pvt. Ltd. will supply a complete production line to manufacture two types of ammunition. The facility is expected to have a production capacity of approximately 100 million rounds per year. The project is valued at approximately €50 million, with deliveries scheduled for 2028 and 2029.
Oneindig Technologies emerges L1 bidder for solar rooftop project
Oneindig Technologies has announced that it has emerged as the Lowest Bidder (L1) in an e-tender floated by NHPC Limited for the selection of a rooftop developer to set up grid-connected solar rooftop plants on various government buildings in the state of Haryana, through HAREDA, on a RESCO basis via tariff-based competitive bidding. The project carries an aggregate estimated tender value of approximately Rs 140 crore, spanning multiple locations with specific capacity allocations and tariffs. The company noted that emerging as the L1 bidder does not constitute a final contract award, which remains subject to the completion of applicable formalities, the issuance of a Letter of Award or Purchase Order, and the execution of definitive agreements.
Aarti Industries commissions Phase I of Zone IV project
Aarti Industries Ltd has announced the successful commissioning of Phase I of its Zone IV project in Jhagadia, Gujarat, marking an important milestone in the Company’s ongoing growth and expansion. Phase I brings together Calcium Chloride, PEDA (2-Phenyl Ethyl Diethyl Aniline) and a part of its Multipurpose Plant (MPP), creating complementary capabilities in downstream integration, diversified end-use applications, and flexible multi-product manufacturing. The platform is designed to support the commercialisation of high-value and niche products, with several products planned from Zone IV expected to be manufactured in India for the first time.
Rajputana Stainless awards wind and solar project contracts
The board of Rajputana Stainless Ltd has approved the awarding of a 2.10 MW Wind Power Project contract to Suzlon Energy Ltd in Gujarat to set up 1 No. of Suzlon-make S120_140_2100 kW capacity Wind Turbine Generator at Jamjodhpur site in the state of Gujarat. The contract size is Rs 16.21 crore + GST per WTG. Rajputana Stainless Ltd also approved the award of a contract for an 8 MWp DC Solar Project at the Banaskatha site in Gujarat to Prozeal Green Energy Ltd., Ahmedabad. The contract size is Rs 22.71 crore + GST per WTG.