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HERO TO ZERO
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Reliance Capital: The Competition Commission of India (CCI) has approved the acquisition of the stake in Reliance Capital by IndusInd International Holdings Limited, IIHL BFSI (India) Limited, and Aasia Enterprises LLP. Reliance Capital is undergoing insolvency resolution proceedings initiated under the Insolvency and Bankruptcy Code.
Tata Power Company: The Tata Group company has signed a share purchase agreement and acquired a 100 percent equity stake in Bikaner III Neemrana II Transmission, a project special purpose vehicle. The acquisition cost is Rs 18.6 crore. The special-purpose vehicle formed in June 2023 will build, own, operate, and transfer an electrical power transmission system between Bikaner and Neemrana in Rajasthan.
Canara Bank: The public sector lender has given approval to initiate the process of listing its mutual fund subsidiary, Canara Robeco Asset Management Company, on the stock exchanges via an initial public offering (IPO). The modalities of listing will be decided in due course.
Petronet LNG: Petronet LNG has executed binding transaction documents with Goplapur Ports for setting up of floating storage regasification unit (FSRU) based LNG terminal with capacity of 4 MMTPA (Phase-1), with provision for converting to 5 MMTPA land-based terminal in Odisha. PLL is in process of setting up its maiden LNG terminal on the east coast of India at Gopalpur, Odisha which would bring augmentation in overall regasification capacity in the country.
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