Zydus Lifesciences, Jindal Stainless and Om infra to see some action today

Zydus Lifesciences has received final approval for Loperamide Hydrochloride Capsules USP, 2 mg (USRLD: Imodium Capsules) from the United States Food and Drug Administration (USFDA). Loperamide hydrochloride capsule is indicated for the control and symptomatic relief of acute nonspecific diarrhea and chronic diarrhea associated with inflammatory bowel disease.

In a major strategic move to ensure long term availability of nickel, Jindal Stainless (JSL) has entered into a collaboration agreement with New Yaking for the investment in, development, construction and operation of a Nickel Pig Iron (NPI) smelter facility (Facility) located in an industrial park in Halmahera Islands, Indonesia. Pursuant to the Collaboration Agreement, JSL will acquire a 49% equity interest for a consideration of around $157 million.

Om infra has proposed to divest its stake in its Subsidiary Chahel Infrastructures and Associate Sanmati Infradevelopers at an approved valuation. Chahel Infrastructures is not material subsidiary and has not been in business since long. Presently, the Company holds 94.64 per cent shares in Chahel Infrastructures. Consequent to the above transaction, Chahel Infrastructures ceased to be the subsidiary of Om infra.

Royal Orchid Hotels has unveiled its newly opened hotels in five cities across India. The hotel chain launched its Regenta brand in Vadodara, Jhansi, Mohali, Greater Noida, and Mahadevpura-Bangalore, marking significant growth for the company. The five properties will showcase the new and vibrant Regenta brand across two categories - Regenta Place and Regenta Inn.

Bombay Burmah Trading Corporation has raised Rs 50 crore through allotment of 500 Fully Paid Senior Secured Rated Unlisted Transferable Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 10,00,000 each for cash, at par on private placement basis. The Debenture Issue Committee of the Corporation has at its meeting held on March 28, 2023 approved the same.

Cholamandalam Investment and Finance Company has entered into a share swap agreement with TVS Supply Chain Solutions (TVSSCSL), White Data Systems India (WDSI) and other shareholders of WDSI for the sale of 12,75,917 equity shares constituting 30.87% held by the Company in WDSI to TVSSCSL. As consideration for sale of WDSI shares, the Company will be issued 22,35,265 Compulsory Convertible Preference Shares of TVSSCSL. Consequently, WDSI will cease to be an associate of the Company upon completion of transaction.

Kotak Mahindra Bank’s arm -- Kotak Investment Advisors (KIA) has raised $1.25 billion for its second special situations fund. The money raised will be deployed in equity, debt capital and hybrid instruments across sectors. The overall targeted amount for the second fund, which will be domiciled in the GIFT City, is $1.6 billion. The second fund, which comes after the deployment of $1 billion in the first fund, will provide strategic solution capital across growth and value companies.