on Thursday said the company’s board has approved the appointment of Shashwat Sharma as the new Managing Director and Chief Executive Officer (CEO), effective January 1. Sharma has been the CEO Designate over the last 12 months. The company has also announced the appointment of current Vice-Chairman and MD, Gopal Vittal, as Executive Vice-Chairman from January 1, for five years, overseeing Bharti Airtel and all its subsidiaries. Sharma will report to Vittal.
Debt-ridden on Thursday said its subsidiary, VITIL, has completed a Rs 3,300 crore fundraise through the issuance of non-convertible debentures. The fundraiser assumes significance, as the proceeds will be used by VITIL to repay its payment obligation to Vodafone Idea, the company said, adding that this will enable it to bolster its capex and support business growth.
IT services company on Thursday announced it will purchase the Telco Solutions Business of Hewlett Packard Enterprise for a total purchase price of up to USD 160 million. The purchase price includes USD 15 million of incentives based on FY25 performance. “HCLTech to acquire Telco Solutions Business from Hewlett Packard Enterprise (HPE) to further strengthen its engineering and AI-led network propositions to global communication service providers,” the company said in a release.
State-run Bharat Petroleum Corporation () said on Thursday that it will form a joint venture (JV) with Coal India (CIL) for a coal gasification project in Maharashtra. The project will come up at the state-run mining behemoth’s subsidiary Western Coalfields (WCL) in Maharashtra, where the proposed JV firm will construct, operate and maintain the coal gasification project, the oil marketing company (OMC) said in a filing on BSE. Coal India will hold a majority 51 per cent stake in the JV firm, with BPCL controlling the remaining 49 per cent, it added.
on Thursday announced a Rs 64 crore investment in Khorlochhu Hydro Power Limited (KHPL) as part of an agreement to acquire a 40 per cent stake in the Bhutan-based entity. In October 2024, Tata Power executed a Share Purchase Agreement to acquire a 40 per cent equity stake in KHPL in one or more tranches.