CEAT, Ircon International and Crompton Greaves to see some action today

CEAT has raised Rs 150 crore through the allotment of Non-Convertible Debentures (NCDs) on a Private Placement basis. The Board of Directors of the company at its meeting held on September 19, 2022, has allotted the same.

Ircon International has been awarded the work of Stage-III i.e. Detailed Engineering and Project Management Consultancy (PMC) Services for ‘Development of Rail Infrastructure for proposed 02 nos. RLS (20 MTY) for Ananta OCP of Jagannath Area at Talcher’ by Mahanadi Coalfields (MCL) at total value of Rs 256 crore. The duration of the project shall be 15 months from the date of receipt of LOA/ Work Order from MCL.

Crompton Greaves Consumer Electricals (Crompton Greaves) has received approval to sell upto 10,72,775 equity shares of face value of Rs 10 each of Butterfly Gandhimathi Appliances, a material subsidiary of the Company, representing upto 6% of its total issued and paid-up equity share capital through an offer for sale through stock exchange mechanism, in accordance with the applicable laws, towards compliance with the requirement of minimum public shareholding requirements in terms of Rule 19A of the Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation 38 of the SEBI Listing Regulations. Executive Committee of Directors of the company at its meeting held on September 19, 2022 approved the same. 

Kajaria Ceramics has incorporated wholly-owned subsidiary namely ‘Kajaria International DMCC’ at Dubai. The company has initially subscribed 50 ordinary shares of Kajaria DMCC for AED 1000 each, equivalent to Rs 10,87,500. The company has subscribed 100% shares of the Kajaria DMCC. Accordingly, Kajaria DMCC has now become a related party of the company.

Olectra Greentech’s Consortium and Evey Trans (EVEY) have received Letter of Award from one of the State Transport Corporations for 123 Electric Buses.This order for supply of 123 Electric Buses is on Gross Cost Contract (GCC) / OPEX model basis for a period of 15 years (Contract Period). Value of this Contract is approximately Rs 185 crore to the company. EVEY shall procure these buses from Olectra and which shall be delivered over a period of 9 months.

Jyoti has secured prestigious order of Rs 73.6 crore for design, engineering, manufacturing, testing & supply of large capacity Vertical Pumps and HT/LT Motors for Water Resource Department (WRD), Andhra Pradesh, through the contractor, PLR Projects, Hyderabad for 7 pump Houses of GNSS TO HNSS LIFT IRRIGATION SCHEME. The order comprises supply of 53 pump sets, 53 sets of LT& HT motor (Maximum capacity of HT motor 3.5 MW), forced water Lubrication system and spares. 

Adani Enterprises has raised Rs 100 crore on September 19, 2022 by allotment of 1,000 Rated, Listed, Secured, Redeemable, Principal Protected Market Linked Non-Convertible Debentures (MLD) of the face value of Rs 10 lakh each on private placement basis.