D B Realty, SBC Exports and Spandana Sphoorty Financial to see some action

Neelkamal Realtors Tower (NRTPL), a wholly owned subsidiary of D B Realty has entered into a joint venture with Godrej Properties (GPL) for development of land / property being all the piece and parcel of land admeasuring 19,434 sq. mtrs. or thereabouts bearing Cadastral Survey No. 1906 of Byculla Division, E-Ward, Mumbai - 400011 (Land). In this context, NRTPL has executed Deed of Conveyance in favour of Godrej Residency Private Limited (GRPL) on December 23, 2022 for sale of NRTPL's Land for a consideration as agreed therein. The project will be developed by GRPL, wherein NRTPL will hold 49.99% and the balance 50.01% will be held by GPL.

SBC Exports has announced that Work Order for providing Office Support, Project Management Support and Rollout Services has been awarded to it by Department of Consumer Affairs through NICSI, New Delhi vide Work Order No. M2205257. The aggregate purchase order cost of the said Work-Order is Rs. 90,20,856.

Spandana Sphoorty Financial has received a binding bid from an Asset Reconstruction Company (ARC), amounting to Rs 95 crore, on Security Receipt consideration basis, for the written-off portfolio with outstanding of Rs 323.08 crore as on September 30, 2022. The company shall follow Swiss Challenge Method for bidding and decision of sale shall be taken as per extant guidelines governing Swiss Challenge Method and the relevant policy of the company.

Punjab National Bank (PNB) has raised Rs 582 crore by issuing bonds on private placement basis. The bank has issued and allotted Basel III compliant Additional Tier I bonds at a coupon of 8.40 per cent per annum. The non-convertible taxable bonds will qualify as Tier I capital.

Titan Company’s flagship brand -- Tanishq has re-launched its store in Anna Nagar in the city. Spread across 10,000 sq ft, the store offers over 5,000 designs. Tanishq currently has over 400 exclusive boutiques in more than 220 cities.

Tata Power Company has received a Rs 450 crore ‘sustainable trade finance facility’ from MUFG Bank of Japan to fund its solar projects in India. This credit facility was extended for two solar projects under TP Kirnali (TPKL). TPKL is a 100 per cent subsidiary of Tata Power Renewable Energy (TPREL).

MKVentures Capital has entered into a Share Purchase Agreement (SPA), with Parthasarathi Investment Advisors (PIAPL) in connection with the investment by the company in Destination Properties (DPPL) by way of the acquisition of 100% equity shares of DPPL from PIAPL. The cost of acquisition is Rs 5 lakh.