Indian Oil Corporation, Uno Minda and Lupin to see some action today

In a bid to enable India’s decarbonization push, Indian Oil Corporation and NTPC Green Energy (100% subsidiary of NTPC), have signed of Joint Venture Agreement for formation of a Joint Venture (JV) company to develop Renewable Energy (RE) Power plants to meet Round the clock power requirement of new projects of IndianOil Refineries in India.

Uno Minda’s Board has approved acquisition of 81.69 % stake in Kosei Minda Aluminum Company (KMA) and 49.90% stake in Kosei Minda Mould (KMM) from joint venture partner Kosei, Japan (Kosei). The acquisition is planned through composite scheme of merger with Uno Minda through swap of shares. The enterprise value of KMA and KMM considered for the purpose the transaction is around Rs 60 crore and Rs 11 crore respectively.

Lupin’s alliance partner Caplin Steriles (Caplin) has received final approval from the United States Food and Drug Administration (USFDA) for its Abbreviated new Drug Application (ANDA) Thiamine Hydrochloride Injection USP, 200 mg/2 mL (100 mg/mL) Multiple-dose Vials, to market a therapeutically equivalent to the reference listed drug (RLD), Thiamine Hydrochloride Injection USP, 200 mg/2 mL (100mg/mL), of Fresenius Kabi USA LLC.

HCL Technologies (HCLTech) has joined the Intel Foundry Services (IFS) Accelerator Design Services Alliance. With this, HCLTech will be able to build advanced solutions for the global chip manufacturing ecosystem by leveraging its capabilities across digital, engineering and cloud.

Knowledge Marine & Engineering Works (KMEW) has secured a major dredging contract from M/s RKEC Projects on March 20, 2023 for the work of Development of Fishery Harbour at Veraval (Phase - II), Package, Gir Somnath of M/s Gujarat Maritime Board (GMB) for an amount of Rs 47.02 crore (including GST) for a period of 30 months. This is the consecutive second order of the company for development of fishing harbor in Gujarat. The project is being developed under the Pradhan Mantri Matsya Sampada Yojana (PMMSY).

Sterling and Wilson Renewable Energy has emerged as successful bidder for the Balance of System (BOS) package comprising of 4 blocks of 300MW(AC) each in the proposed 1200MW Solar PV project of NTPC Renewable Energy at Khavda RE Power Park, Rann of Kutch, Gujarat with an aggregate capacity of around 1500 MW (DC). The total bid value, including Operations and Maintenance (O&M) for 3 years, would be around Rs 2,100 crore (inclusive of taxes).

Kotak Mahindra Bank has raised Rs 300 crore through allotment of 30,000 Senior, Rated, Listed, Unsecured, Redeemable, Long Term Fully Paid Up Non-Convertible Bonds in the nature of Debentures (NCDs), of the face value of Rs 1,00,000 each, issued on private placement basis. Date of maturity of the said NCDs will be on March 20, 2030.