Optiemus Unmanned Systems (OUS), a subsidiary of Optiemus Infracom Ltd, on Thursday said it will invest around ₹140 crore to deploy 5,000 drones in the agricultural and mapping category over the next one year. Through this project, it is also targeting a service revenue of around ₹600-₹900 crore by the end of calendar year 2025, a top official at the company said, adding that the prices of the drones starts at around ₹2.50 lakh each.
Go Digit Insurance informed the exchanges that a team of officials from the Directorate-General of GST Intelligence (DGGI), Bengaluru, had sought information with respect to purchases made by the company from one of its vendor. According to the DGGI, the vendor was non-existent at its registered premises as per discrete inquiries conducted by the Department. “We would like to re-iterate that the said transactions were conducted in the ordinary course of business. During the search procedure, the company contacted the responsible person of the concerned vendor, who assured he would co-operate with the investigation proceedings. Further, assuming and not admitting that the vendor is non-existent, the company has voluntarily reversed input tax credit of ₹7 crore.
Solar Industries India Ltd, a global company specialising in the design, development, manufacture, and application of energetic materials for mining, defence & space applications, has acquired a majority stake in Problast BS (Pty) Ltd, South Africa, through its South African subsidiary Solar Mining Services (Pty) Ltd.
Persistent Systems’ US-based arm is set to acquire a 100 per cent stake in New Jersey-based software company Starfish Associates for a cash consideration of $20.7 million. The acquisition is expected to be completed within 4-6 weeks, the company said in a statement. “Persistent Systems Inc, USA (wholly-owned subsidiary) has entered into a stock purchase agreement for the acquisition of Starfish Associates, LLC, USA .
Coforge on Thursday acquired an 11 per cent stake in IT company Cigniti Technologies for ₹426 crore through an open market transaction. According to bulk deal data available with the NSE, Coforge purchased 30,21,293 shares amounting to an 11 per cent stake in Cigniti Technologies. The shares were picked up at an average price of ₹1,412.25, taking the transaction value to ₹426.68 crore.
HG Infra Engineering’s wholly-owned subsidiary — H.G. Solar Projects — has incorporated a wholly-owned subsidiary, namely H.G. Dudu Solar Project, which will carry out business in the field of solar power. Earlier, the company had incorporated subsidiary companies in the name of H.G. Dhingsari Solar Project, H.G. Ramsagar Solar Project and H.G. Moriya Solar Project, which are also in the business of Solar Power.
Ahluwalia Contracts (India) has secured an order from Airports Authority of India for construction of a new terminal building, allied structures and external development works on the Engineering Procurement and Construction (EPC) model. Broad consideration or size of the order is ₹572 crore (Excluding GST). The order is expected to be executed in 24 months.
RailTel Corporation of India has received a work order from Webel Technology for upgradation and enhancement of existing IT and non-IT DC infrastructure at WBSDC Monibhandar. Broad consideration or size of order is ₹23.96 crore (including tax). The order is expected to be executed by September 25.
Share India Securities has incorporated a subsidiary – Silverleaf Securities Research – to carry on the business of trading and providing stock broking services in securities as defined under the Securities Contracts (Regulation) Act, 1956. The company has subscribed 7,30,900 equity shares of face value of ₹10 each aggregating to ₹73,09,000.
BGR Energy Systems intends to raise ₹1,000 crore through a rights issue, the company said in a notice to the stock exchanges. However, the record date for determining the eligible shareholders as well as the entitlement ratio of the issue are yet to be decided. The company has formed a ‘rights issue committee’ of the Board of Directors to put through the issue.
IDFC First Bank on Thursday said it has raised ₹3,200 crore by selling equity shares to six insurance companies, including LIC and HDFC Life. In a regulatory filing, IDFC First Bank said an authorised committee of the board of directors approved the allotment of more than 39.68 crore shares for ₹80.63 per scrip, “aggregating to ₹3,200 crore”. The names of the six companies to whom shares have been allotted are Life Insurance Corporation of India, HDFC Life Insurance Company, Aditya Birla Sun Life Insurance Company, Bajaj Allianz Life Insurance Company, ICICI Lombard General Insurance Company and SBI General Insurance Company.
Lloyds Metals and Energy has launched a QIP to raise funds and has fixed the floor price at ₹732.08 at a 5.5 per cent discount to Thursday’s closing price. The company may offer a discount of 5 per cent to the floor price.
RVNL has signed an MoU with Delhi Metro Rail Corporation to participate in upcoming projects in India and abroad as a project service provider.
IRCON has received order worth ₹750.8 crore from RVNL.
