One 97 Communications Ltd, which owns the Paytm brand, on Wednesday said it will sell entertainment ticketing business to Zomato for ₹2,048 crore. Entertainment ticketing business, including movies, sports, and events, will be available on the Paytm app during a transition period of up to 12 months, it said. The deal underscores the value Paytm has created through its entertainment ticketing business, bringing choice and convenience to millions of Indians with its services and scale, the company said.
GE Power India Ltd (GPIL) on Wednesday said its Managing Director Prashant Jain has resigned. The board has appointed Puneet Bhatla as Additional Director and Managing Director from September 1, 2024, to June 30, 2027 subject to the approval of members.
Indian Renewable Energy Development Agency Ltd (IREDA) on Wednesday said its board will consider a proposal to raise up to ₹4,500 crore through issuance of shares in its meeting on August 29. The funds would be raised in one or more tranches through Further Public Offer (FPO)/ Qualified Institutional Placement/ Right Issue/ Preferential Issue or any other permitted mode or combination, subject to the statutory or government approval, a BSE filing said.
Venture capital firm Nexus Ventures Partners on Wednesday sold 1.06 per cent shares in Delhivery for over ₹344 crore through an open market transaction. US-based Nexus Ventures Partners, through its affiliate Nexus Ventures III, sold more than 78 lakh shares or 1.06 per cent stake in Delhivery through a bulk deal on the National Stock Exchange (NSE). The shares were disposed of at an average price of ₹440 apiece, taking the deal value to ₹344.06 crore.
Gensol Engineering on Wednesday said it has secured a 16 megawatt rooftop solar project from a textile company in Madhya Pradesh. The repeat order has been secured under the commercial and industrial (C&I) segment of the company. The project will be set up on engineering, procurement and construction (EPC) basis.
Awfis, one of the largest network of flexible workspaces, has announced the launch of two new centres at Mantri Commerce and Vista Pixel in Bengaluru. The centres offer 39,000 sq. ft. and 27,846 sq. ft. built-up areas respectively, expanding Awfis’ extensive footprint and providing premium workspace solutions in prime locations.
All India Karnataka Bank Employees’ Association (AIKBEA), affiliated to AIBEA, has given a strike call on August 28 to lodge protest against the actions of the Bank of India (BOI) Management. If the strike call materialises, the normal functioning of the Bank Branches/ Offices/Departments are likely to be affected. Karnataka Bank is taking necessary steps to ensure normal functioning in Branches/ Offices/Departments. Expected quantum of loss/damages and impact on the operations are not quantified.
Temasek Holdings Pte is weighing a potential exit from an Indian joint venture with Schneider Electric SE, a Bloombrg report quoting people with knowledge of the matter, said. “The Singapore state investment company has been discussing options including a sale of its minority stake in the joint venture to Schneider or another party, the people said, asking not to be identified because the information is private. An initial public offering is another option that Temasek has considered, according to the people,” the report added.
L&T Technologies informed the exchanges that Thales, a leading global technology and security provider, has announced a new contract. The company will use the Thales Sentinel platform to help customers monetise their software with flexible licensing options.
Market buzz is that a promoter of Alkem Laboratories is likely to sell a 0.7 per cent stake (or 8.5 lakh shares) in the company through block deal. The likely floor price for the sale has been set at ₹5,616 per share.
Rail Vikas Nigam (RVNL) signed a MoU with Dhaya Maju Infrastructure (Asia) Sdn Berhad (DMIA) to participate in railway infrastructure and services projects in All South East Asian Nations (ASEAN) as well as other markets.
BEML has signed a strategic MoU with the Directorate of Marine Engineering, Indian Navy, to design, develop, make and extend product support of marine engineering equipment.
The Department for Promotion of Industry & Internal Trade (DPIIT) has granted an industrial license to Paras Defence and Space Technology to establish an industrial undertaking for manufacture of several items, including infrared or thermal imaging equipment, electro-optics systems, sub-systems and platform of radar systems, modules and control assemblies, opto-electronic assemblies, and border security surveillance systems in Navi Mumbai, Maharashtra.
Foreign investor Highdell Investment will sell a 2.36 per cent stake in Kalyan Jewellers to the firm’s promoter for ₹1,300 crore, said the company in an exchange filing.
Welspun Michigan Engineers, subsidiary of Welspun Enterprises, has received a Letter of Acceptance (LOA) from the Brihanmumbai Municipal Corporation (BMC) for rehabilitating man-entry sewers using trenchless technology in Mumbai’s suburbs. The contract value is ₹159.75 crore, and the project is to be executed within 24 months (excluding monsoon) from the commencement notice.
India Grid Trust will remain in focus as Sponsor Esoteric II Pte – an affiliate of KKR – will sell a 17.32 per cent stake in India’s first power sector InvIT, via offer-for-sale on August 22-23. The floor price for the offer has been fixed at Rs 132 per unit.
