CMS Info Systems: The cash management systems player will make its Dalal Street debut today. The company raised Rs 1,100 crore via primary route offering its shares in the range of Rs 205-216 apiece between December 21-23. The issue was overall subscribed less than two times. It was commanding almost negligible premium in the grey market.
State Bank of India: The largest public sector lender said it will acquire about 10 per cent stake in the India International Clearing Corporation (IICC). IICC is the first international clearing corporation set up at GIFT-IFSC that acts as a central counterparty providing clearing and settlement and risk management services.
Hindustan Unilever: FMCG distributors in Maharashtra are planning to stop selling select products of leading firm HUL from January 1, as the company has not engaged in talks with them over the issue of price disparity between traditional distributors and organized B2B distributors.
NTPC: The state-run power major said its board has approved a proposal to discontinue operation of Muzaffarpur Thermal Power Station (MTPS), Stage-I (2X110 MW) of Kanti Bijiee Utpadan Nigam (KBUNL) from September 8, 2021.
PB Fintech: The insurance company approved investment of up to Rs 700 crore in one or more tranches in subsidiary Policybazaar Insurance Brokers Private Limited during FY22 and FY23, and up to Rs 299.99 crore in subsidiary Paisabazaar Marketing and Consulting Private Limited.
Power Grid Corporation of India: The State-run power player has approved Rs 322 crore investment proposal for expansion of telecom into data centre business.
SBI Cards and Payment Services: The credit card company has tied up with Paytm for card tokenisation to protect data of the cardholders. SBI Card has collaborated with Paytm to enable cardholders to tokenise their cards on devices and make payments through Paytm.
JSW Energy: Life Insurance Corporation of India acquired more than two per cent stake in the company via open market transactions, increasing shareholding to 9.01 per cent from 7 per cent earlier.
RBL Bank: The private lender has tasked a search panel, comprising two board members, chairman of its nomination & remuneration committee and an external expert, to find a suitable candidate for the lender’s MD and CEO post.
Biocon: An arm of the biotechnology major, Biocon Biologics, said its partner Viatris has won favourable decisions from a US federal court in Sanofi’s challenge over unpatentability of five device patents for disposable insulin injection pen.
IDFC First Bank: The private lender said its board has favoured the merger IDFC and IDFC Financial Holding (promoter group) with the bank. The board of directors of the bank in a meeting held on December 30, 2021, considered the proposal for merger of IDFC Ltd and IDFC Financial Holding Co Ltd (promoter group) with
Firstsource Solutions: The IT player said it has entered into an agreement to acquire American Recovery Services (ARSI), a nationwide legal collections network headquartered in Southern California. The acquisition enhances Firstsource’s leadership in consumer debt management services by adding legal stage collections capabilities.
Manappuram Finance: The NBFC said it has raised Rs 250 crore by issuing bonds, and the amount will be utilised to pare its debt and shore up capital resources. The company board in its meeting approved the allotment of secured, rated, listed, redeemable, non-convertible debentures for an amount of Rs 250 crore on a private placement basis.
Adani Total Gas: The city gas joint venture of Adani Group and TotalEnergies of France said it has launched a new green initiative that targets afforestation, outreach to millennials, and energy audits.
Jindal Power: The Competition Commission of India approved the acquisition of over 96 per cent stake in Jindal Power by Worldone. Earlier in July, Jindal Steel & Power had announced receiving the Rs 7,401-crore revised offer from Worldone Private Limited to acquire the 96.42 per cent stake in Jindal Power.
Dish TV: The cable TV broadcaster’s AGM was held on Thursday but the outcome of the e-voting for passing resolutions, including reappointment of its director Ashok Kurien, will be known only after the permission of the Bombay High Court.
Sterling and Wilson Renewable Energy: The renewable energy player approved the allotment of 2.93 crore equity shares for Rs 1,099 crore to
New Energy Solar Ltd. Post this transaction, Reliance New Energy Solar Ltd (RNESL), part of Reliance Industries, will hold 15.46 per cent paid-up equity share capital of SWRE.