Tata Power, Sterling and Wilson Solar and Satia Industries to see some action today

Tata Power company has reportedly emerged the highest bidder for South East UP Power Transmission Company, beating four other bidders with a Rs 3,000-crore offer to buy the transmission firm under insolvency process. Tata Power had submitted a final bid on October 30 through its subsidiary Resurgent Power Ventures.

Sterling and Wilson Solar (SWSL) has got shareholders' approval to issue equity shares on a preferential basis to Reliance New Energy Solar (RNESL). Earlier, on October 10, the company had announced that RNESL had executed definitive agreements with Shapoorji Pallonji and Company (SPCPL), Khurshed Daruvala and Sterling to acquire 40 per cent stake post-money in SWSL through a series of transactions.

Satia Industries has bagged two orders of 18,250 MT, one from Chhattisgarh Textbook Corporation for 9,000 MT paper and the second from Assam State Textbook Corporation for 9,250 MT paper, total value aggregating to Rs 125.00 crore with average realization of Rs 70,000 per ton to be executed in Q3FY22 which will have positive effect on both the top and bottom line for the quarter.

Info Edge (India) has entered into an agreement to invest about Rs 41.2 crore in Metis Eduventures (Adda247) through a mix of primary & secondary acquisition of shares. As part of company’s strategic investments, the acquisition would help the company to consolidate its presence into a new line of business within the Internet Services/Tech Industry.

Tata Elxsi and Green Hills Software have collaborated for a Driver Monitoring System (DMS) platform that combines advanced DMS software (V.O.E.O.S.Y.S) and AUTOSAR Adaptive from Tata Elxsi integrated with the safe and secure INTEGRITY real-time operating system (RTOS) from Green Hills Software optimized to run on the latest families of automotive-grade microprocessors. This flexible and standards-based DMS platform enables OEMs and Tier 1 suppliers to reduce the time, cost, and complexity of developing and deploying their DMS-compliant ADAS systems while meeting mandatory global safety and security requirements.

Sunteck Realty’s wholly owned subsidiary -- Mithra Buildcon LLP (Mithra) has acquired entire equity shares and compulsorily convertible debentures (CCDs), representing 100% on a fully diluted basis, of Industele Property (IPPL), for an aggregate consideration of around Rs 58.51 crore respectively. IPPL through its investee company holds interest in properties situated in Nepean Sea Road, South Mumbai.

Linde India has signed and executed the closing documents and agreements with HPS Gases for completing the acquisition of the packaged gases business of HPS Gases, Vadodara. The acquisition of the packaged gases business of HPS Gases is completed with effect from November 1, 2021. The said acquisition will help expand Linde India’s presence in Packaged Gas and Micro Bulk market in Western India.