Hindalco Industries: Novelis Inc., a subsidiary of Hindalco Industries, has delayed its IPO due to market conditions. The company, which had planned to raise $810 million to $945 million, will reassess the offering’s timing. AV Minerals (Netherlands) NV and another shareholder were to sell 45 million Novelis shares in the IPO.
Tata Motors: Tata Motors Finance, a subsidiary of the company, is set to merge with Tata Capital, pending regulatory approvals. The board has also approved the creation of a wholly-owned subsidiary, TML Commercial Vehicles, to house its commercial vehicles business.
State Bank of India: The bank’s board will convene on June 11 to discuss raising up to $3 billion in long-term funds through public or private placements of senior unsecured notes in FY 2024-25.
Jindal Stainless: The company has completed the acquisition of Evergreat International Investment Pte Ltd, Singapore (EIPL), making it a wholly-owned subsidiary.
NLC India: The company plans to raise up to $600 million in foreign currency loans through ECBs on June 10, subject to RBI guidelines. It will also seek assistance from MDBs for upcoming renewable power projects.
GPT Infraprojects: The company has secured a ₹547 crore order from Rail Vikas Nigam.
Wipro: The IT firm has partnered with Zscaler to launch Wipro Cyber X-Ray, an AI-assisted decision support platform.
Zee Entertainment Enterprises: Animesh Kumar has resigned as President – HR & Transformation, with Dheeraj Jaggi stepping in as Acting Chief Human Resources Officer.
Container Corporation of India: The company and Shipping Corporation of India have signed an MOU to provide a comprehensive logistics solution.
LTIMindtree: The digital solutions company has expanded its partnership with SAP to deliver innovations for complex manufacturing industries.
Texmaco Rail & Engineering: The company has entered into a Shareholders’ Agreement & Share Purchase Agreement with Saira Asia Interiors for the acquisition of a 51% shareholding for ₹9 crore.
Nuvama Wealth Management: The company has established a wholly-owned subsidiary, Nuvama Wealth Management (DIFC), in Dubai.
IIFL Finance: The special audit of the company directed by the RBI has been concluded.
Deep Industries: The company has received a Letter of Award from ONGC, Kakinada, for the hiring of DPDU (GDU) for gas processing for 10 months, valued at ₹56 crore.
Roto Pumps: The company has started commercial production of downhole pumps in a new manufacturing facility at Greater Noida.
Uflex: The company has entered into a Power Purchase Agreement and Share Subscription and Shareholders’ Agreement for the acquisition of 5.03% equity shares in Onevolt Energy for ₹9.6 crore.
RMC Switchgears: The company has secured a work order worth ₹56.68 crore from AMISP provider for the supply of SMC meter enclosures for smart meters.
Shilpa Medicare: Shilpa Biologicals, a wholly-owned subsidiary, has filed its first Drug Master File of recombinant Human Albumin 20% with the USFDA.
S H Kelkar: The company has incorporated a step-down subsidiary, Keva Germany GmbH.
