Eicher Motors, Supreme Petrochem and IndoStar Capital Finance to see some action today

Eicher Motors has entered into a strategic collaboration in the space of electric motorcycles with Spain-based Stark Future SL. As part of this collaboration, the Board of Directors of Eicher Motors has approved an investment of 50 million euro for a close to 10.35% equity stake in Stark Future. With this investment, Eicher Motors will have a seat on Stark Future’s Board, and will explore further opportunities to collaborate in the space of electric mobility.

Supreme Petrochem has completed EPS Production Facility Revamp Programme/ Commissioning Trials at its Plant situated at Manali New Town, Chennai, Tamil Nadu on December 28, 2022 and consequently the effective production capacity of EPS at Manali Plant has increased from the existing 24000 TPA to 33000 TPA.

IndoStar Capital Finance has raised Rs 400 crore through the allotment of 4,000 Senior, Secured, Redeemable, Rated, Listed, Taxable Non-Convertible Debentures (NCDs) of face value of Rs 10,00,000  each, for cash, at par, on Private Placement basis under Series I, Series II, Series III, Series IV and Series V. The Debenture Committee of the Company vide Circular Resolution dated December 29, 2022, approved allotment of the same.

Bajaj Finserv’s subsidiary -- Bajaj Markets has recorded a disbursement of Rs 402 crore in November 2022, delivering a 34% year-on-year (YoY) growth. The total disbursals of 30,194 resulted in 154% YoY growth in loans disbursed. The average ticket size for loans disbursed in November 2022 was Rs. 1.3 lakh. As of November 2021, Bajaj Markets had 11,868 disbursals resulting in total disbursements of Rs 300 crore.

Ice Make Refrigeration has incorporated subsidiary company namely ‘IceBest’ on December 28, 2022. The incorporated company will be on the same line of Industrial and Commercial Refrigeration business like Ice Make Refrigeration. The company has subscribed 6000 Equity Shares at the face value of Rs 10 each aggregating to Rs 60,000.

Tata Power company has raised Rs 1,000 crore through the issuance of non-convertible debentures on a private placement basis. It has allotted 10,000 unsecured, redeemable, taxable, listed, rated, Non-Convertible Debentures (NCDs) worth Rs 1,000 crore, on private placement basis. The maturity of Series I NCDs worth Rs 500 crore is scheduled on January 8, 2030 while the Series II NCDs worth Rs 500 crore would mature on December 29, 2032.

Brand Concepts has entered into long-term contract of licensing with Authentic Brand Group to launch Travel & Fashion Accessories in the iconic country fashion brand Aeropostale in India. Brand Concepts has become the official product licensee for Travel Gear, Small Leather Goods, Women Handbags & Socks including designing, manufacturing, retailing across all channels in India.