Triveni Turbine, South West Pinnacle and HDFC Bank to see some action today

Triveni Turbine’s arm -- Triveni Turbines DMCC has inked an agreement to acquire 70 per cent equity of TSE Engineering in South Africa for 11.9 million South African rand (around Rs. 6.17 crore). TSE, registered under the South African law, has been engaged in high-precision engineering repairs and servicing of machinery in sugar and other industrial plants in the South African Development Community region.

South West Pinnacle Exploration’s joint venture (JV) -- Alara Resources LLC (ARL), Oman, has secured a Limestone Drilling & related services contract from Bedrock Mineral Resources Consulting (BMRC) for a total value of OMR 181 Thousand (around Rs 3.58 crore) plus taxes as applicable. It is a short duration project of 13 weeks with a provision of further extension on similar terms.

HDFC Bank has been allotted 10 lakh fully paid up Equity Shares of face value of Rs 100 each by Open Network For Digital Commerce (ONDC) for a consideration of Rs 10 crore. Post investment, HDFC Bank holds 7.84% of the Equity share capital of ONDC. The proposed transaction will enable the Bank’s participation in ONDC’s objective of creating an open public digital infrastructure to develop and transform the Indian digital commerce ecosystem for both goods and services.

Bajaj Electricals has completed the procedure towards purchase/acquisition of additional 2,671 (0.37%) equity shares in Nirlep Appliances (Nirlep), a subsidiary of the Company, from all the other shareholders of Nirlep, for a cash consideration at Rs 695.81 per equity share. With the above purchase/acquisition, the entire 100% equity share capital of Nirlep is now legally and beneficially held by the Company along with its nominees, and consequently, Nirlep has now become a wholly-owned subsidiary company of the Company.

Shriram Transport Finance Company has raised Rs 50 crore through the allotment of senior secured rated, listed, redeemable, Non-convertible debentures (NCDs) of face value of Rs 10 lakh each on private placement basis. 100% of the Proceeds of the issue will be utilized for financing of Commercial Vehicles, refinancing of existing debt and other general purposes of the company. The Allotment Committee - NCDs of the Company in its meeting held on March 23, 2022, approved and allotted the same. 

Godrej Agrovet has made additional investment aggregating to Rs 25 crore in the Equity Share Capital of Godrej Maxxmilk (GMPL), wholly owned Subsidiary Company, by way of subscription to Rights Issue and accordingly, has been allotted 7,35,295 Equity Shares of Face Value of Rs 10 each of GMPL on March 22, 2022.

The Board of Directors of CreditAccess Grameen has, at its meeting held i.e. on March 23, 2022, considered and unanimously approved the proposal of raising funds through public issue of non-convertible debentures (NCDs) in domestic market up to Rs 1,500 crore in different tranches.