Welspun Corp Ltd informed the exchanges that its wholly owned subsidiary, Welspun Mauritius Holdings Ltd (WMHL), has divested a 4.5 per cent equity stake in Saudi Arabia-based East Pipes Integrated Company for Industry (EPIC) for SAR 283.46 million (about ₹650 crore). The stake sale was executed through a series of negotiated trades on the Tadawul Stock Exchange in Saudi Arabia on June 9, according to the company’s regulatory filing. Post the stake sale, Welspun arm will hold a 22 per cent equity stake in EPIC.
Dixon Technologies (India) Ltd has signed a binding term sheet agreement with Gemtek Technology Co., Ltd to establish a joint venture through Dixon Electroconnect Private Ltd for manufacturing optical transceivers and telecom products. Dixon will hold 60 per cent of the paid-up share capital, while Gemtek will hold 40 per cent, subject to regulatory approvals. The partnership aims to leverage Dixon’s manufacturing capabilities and Gemtek’s expertise to serve the data centre and telecom sectors.
The board of KRN Heat Exchanger has approved a capital infusion of ₹235.26 crore into its wholly owned subsidiary, KRN HVAC Products. This move underscores the parent company’s aggressive strategy to consolidate its manufacturing footprint and capture the rising demand for energy-efficient cooling solutions.
The Maharashtra Food and Drug Administration (FDA) has issued a formal notice to Patanjali Foods for claims associated with its Karela Jamun Juice. This development places one of the company’s notable health-segment products under the threat of a mandatory recall, following scrutiny over labelling and medicinal assertions.
Quality Power Electrical Equipments Ltd has signed a term sheet to acquire Winwin Speciality Insulators Ltd (WSIL) at an enterprise value of approximately ₹315 crore, the company said on Tuesday. The proposed transaction, subject to due diligence, regulatory approvals and other customary closing conditions, is expected to be completed within three months.
Emerald Finance Ltd has partnered with Yerik International Pvt Ltd to offer an Early-Wage-Access program to its employees. The initiative aims to provide instant financial relief by allowing employees to access part of their salaries throughout the month. The product involves short-term loans provided as salary advances, collected through salary deductions.
Hinduja Group Solutions informed the exchanges that its OneOTT Intertainment has launched Project GANGA in Uttar Pradesh in association with the state government. The project aims to connect over 20 lakh homes with high-speed broadband across Uttar Pradesh over the next 2–3 years.